Journalist
Posted:
- PEPE showed bullish activity across multiple metrics, but its lack of stability is raising the stakes.
- Will this be the turning point, or is there more uncertainty ahead?
Pepe [PEPE] market cap was climbing, up by 1.5%, at press time, with volume surging as signs of accumulation build. Could this be the spark for a 30% breakout to reclaim its late-January peak?
The stakes are high. After hitting its early December peak of $0.00002836, PEPE has wiped out its gains from the Trump pump and is now trading back at pre-election levels of $0.00000953.
While a rebound from here is possible, the coin’s volatility keeps traders on edge. Since its peak, PEPE has posted consistent lower lows, with no solid support forming at any key price levels.
Source: TradingView (PEPE/USDT)
However, its recent consolidation between $0.00000860 and $0.00000980 could be setting the stage for a big breakout – if the right conditions fall into place.
But if this support fails, it could trigger a massive sell-off of 14.06 trillion PEPE coins, dragging the memecoin dangerously close to its key floor of $0.00000770.
PEPE’s future hangs in the balance
By mid-February, the top ten PEPE token holders have already dumped a staggering $9 trillion, leaving them with just $165 trillion in their treasuries.
Source: Santiment
With the flow of big money slowing down, the memecoin’s ability to maintain its current price levels is being tested. A 30% rebound seems like a distant dream right now.
With the rise in derivatives trading, volatility is increasing. In the last 24 hours alone, $1 million in long positions were squeezed despite rising volume.
This could be just the beginning. Official Trump [TRUMP] is rapidly closing in on PEPE, with its market cap now over $3.30 billion.
PEPE may soon face stiff competition for the top spot in the memecoin race. Its need for consolidation has never been more urgent. The asset is firmly in a “high-risk” zone – keep a close eye on it.
