Usman Salis
The memecoin market remains hot, and PEPE is catching serious attention from both retail investors and big players. With its current price hovering near $0.00001053, technical signals suggest we might be on the verge of something big. Let's dive into what the charts are telling us about PEPE's next potential move.
PEPE Price Action Suggests Elliott Wave Momentum
PEPE isn't slowing down in the memecoin space. The token is building what looks like a solid market structure that could launch it into its next bullish run.
Trader @Steph_iscrypto has been tracking PEPE's movement and believes the chart shows a textbook Elliott Wave pattern. We've already seen four complete waves, and if wave 5 kicks in, it could be the biggest rally yet. This is typically when memecoins see massive speculative money flowing in.
Looking at the weekly chart, PEPE has clearly marked out waves 1-4 and is now consolidating before its next big move. The Elliott Wave theory suggests wave 5 could push PEPE much higher if the momentum picks up.
The support around $0.00001000 is holding strong, giving bulls a solid foundation for a potential breakout. If market sentiment turns more positive and we see increased buying pressure, PEPE could test higher levels - maybe even challenge its previous peaks or set new all-time highs.
Can PEPE Price Deliver Another Meme-Driven Rally?
Here's the million-dollar question: can PEPE pull off the kind of explosive runs we saw with DOGE and SHIB during their golden moments? The volatility is definitely there, and the technical setup looks promising. Plus, the broader meme sector is showing renewed life, with social media buzz still backing speculative plays.
If this 5th wave scenario actually happens, PEPE could end up being one of the top performers in the memecoin space this year. But let's be real - meme markets can flip quickly if the hype dies down, so traders need to stay sharp.
Usman Salis
