Peter Smith
PEPE just erased a zero from its price, hitting $0.0000106 – up 1.54% in the past day. This comes after six brutal days of selling that pushed the meme coin from $0.00001315 on July 28 down to $0.00000986. The selloff actually started from $0.00001475 on July 22 before bulls finally stepped in.
PEPE Price Breaks Key Technical Level
The recovery began Sunday when PEPE broke above its 200-day moving average at $0.00001028. Early Monday, it hit an intraday high of $0.0000107. Breaking that technical level is crucial – it means PEPE is moving away from the danger zone where it could add another zero.
Massive Whale Activity Drives PEPE Movement
While PEPE recovered, whales were busy. A massive 2.53 trillion PEPE tokens moved in large transactions over 24 hours, worth $26.46 million. These $100,000+ trades usually signal institutional or big-money activity, suggesting smart money is either accumulating or repositioning.
PEPE Faces Critical Levels Ahead
PEPE now faces resistance between $0.000011-$0.000013, where 82.68 trillion tokens were bought by 58,610 addresses at $0.000012 average cost. These underwater holders might sell at break-even.
Support sits at $0.00008-$0.000010, where 47.35 trillion PEPE are held by 58,070 addresses at $0.00009 average cost.
PEPE is still walking a tightrope – one wrong move could add that zero back. The whale activity suggests something's brewing, but whether this recovery sticks remains to be seen.
Peter Smith
