- Pepe, the meme-inspired cryptocurrency, experienced a significant surge as institutional entities began purchasing the asset in bulk.
- Price action suggests Pepe is trading within a bullish pattern, but the rally’s fate depends on the current support level holding firm.
Pepe, the cryptocurrency that’s been making waves in the meme-verse, rallied in the past 24 hours following an influx of large entities buying into the asset. Its 9.9% gain, however, hinges on several market dynamics, particularly a key support level it’s currently testing.
While holders’ conviction remains strong, liquidation maps show both opportunity and risk for a sustained rally.
Entities accumulate as long-term investors join the party
Large investors are once again entering the market, accumulating Pepe in significant volumes, according to data from Arkham Intelligence.
In the past 24 hours, over $3 million worth of Pepe was accumulated, with Morpho leading the charge by purchasing approximately $1.3 million in tokens.
At the same time, the number of Pepe holders hit an all-time high of 455,670, according to CoinMarketCap.
The simultaneous rise in both accumulation and holder count signals growing confidence in the token’s outlook, suggesting strong potential for continued upside momentum.
Technical structure and support key
While institutional entities and long-term holders are adding to their positions, the continuation of Pepe’s rally rests on a crucial support level.
Currently, Pepe is trading within a bullish pattern known as the inverse head and shoulders, which often precedes upward breakouts.
Pepe has entered a critical support zone at $0.00001024, a level that previously acted as resistance.
If the price breaks below this threshold, it would invalidate the current bullish pattern and could trigger a bearish reversal.
However, if support holds and buying pressure continues, Pepe may climb to $0.00001157, offering a potential 12% gain.
Sustained demand could push the token even higher toward $0.00001339, representing an additional 15% upside.
The next few sessions will be key in determining whether this support level can hold and fuel further momentum.
Analysis of the Bull Bear Power (BBP) indicator, which helps determine whether buyers (bulls) or sellers (bears) dominate, shows consistent green bar formations, signaling bullish momentum.
More consecutive green bars would suggest heightened buying activity, increasing the chances of a breakout above $0.00001157.
Two likely price scenarios ahead
The liquidation Heatmap on CoinGlass, which highlights potential price pivot zones, shows a two-sided risk profile.
Key liquidation levels lie both above and below the current price, implying that Pepe could move in either direction.
A downside move could push the asset toward $0.0000099, where the last major liquidity cluster sits.
On the flip side, if upward momentum continues, Pepe could rally toward $0.00001114, a zone marked by significant liquidity clusters.
This level may act as a magnet for price action, especially as leveraged short positions face pressure.
Currently, several indicators and overall market sentiment lean bullish, suggesting that continued capital inflows could drive Pepe higher.
However, sustained volume and follow-through will be key to confirming the breakout.
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2025-07-04 11:47