Pepe Coin Price Could Surge 45 / Amid Decreased Exchange Volume and Whale Activity

Pepe Coin, one of the most popular meme-based cryptocurrencies in the market, has recently experienced a notable retreat, falling over 27% from its peak price earlier this year. Despite this, market analysts are predicting a potential price surge of 45% in the near future. This forecast is driven by a combination of factors, including a reduction in the supply of Pepe on exchanges, ongoing whale activity, and an overall increase in market momentum.

As of Wednesday, November 27, Pepe (PEPE), the third-largest meme coin by market capitalization, was trading at $0.0000187, bringing its total market cap to a solid $7.8 billion. Although its price has seen a decline from its previous highs, the fundamentals suggest a strong possibility for a price rebound, fueled by key indicators in on-chain data and technical analysis.

Key Metrics and Whale Activity Point to Potential Bullish Momentum

Data from Nansen, a leading cryptocurrency analytics platform, reveals that the total supply of Pepe coins on exchanges has decreased by 1.46% in the past week, now standing at 239.84 trillion. This represents approximately 57% of the total circulating supply. The decreasing amount of Pepe on exchanges is considered a bullish sign, as it indicates that a greater proportion of coins are being held by long-term investors, potentially reducing selling pressure in the future.

This reduction in exchange supply is significant because it shows a shift in the behavior of Pepe holders. Rather than selling or trading their coins, many investors are choosing to hold them, expecting higher prices in the future. This trend is particularly evident in the recent $9.19 million outflow of Pepe from centralized exchanges (CEXs) in just a 24-hour period. Such outflows are generally interpreted as a positive indicator, suggesting confidence in the asset and a desire to retain ownership rather than liquidating positions.

Meanwhile, whale activity remains a critical factor in driving Pepe’s price action. On November 27, one significant whale purchase was recorded, with the buyer acquiring over $2.7 million worth of Pepe. Another large whale transaction saw nearly $1 million worth of Pepe coins moved from Binance, further indicating that institutional and high-net-worth investors continue to view Pepe as a viable long-term investment.

Strong 24-Hour Trading Volume Signals Market Confidence

Another important metric that supports the bullish outlook for Pepe is its substantial 24-hour trading volume. With a trading volume of $2.9 billion, Pepe ranks second only to Dogecoin (DOGE), which recorded $8 billion in volume during the same period. The high trading volume is a clear indication of strong market participation and interest in the token, which is often correlated with price volatility and upward price movement.

Pepe’s strong position in terms of volume, combined with its resilience in the face of broader market challenges, makes it an attractive investment for those seeking opportunities in the meme coin space. Compared to other meme tokens, Pepe has managed to maintain a solid foothold, especially with its growing community and sustained investor interest.

Technical Indicators Point to a Bullish Breakout

From a technical analysis perspective, Pepe has recently completed what’s known as a “break and retest” pattern, a classic sign of potential bullish continuation. In this scenario, Pepe’s price broke through a key resistance level, then returned to test that level as support. This pattern is often seen as an indicator that the price will continue to rise following the retest of support.

In Pepe’s case, the price retested the support level at $0.0000172, which represents its highest price point in March 2024 and aligns with the upper portion of a cup and handle chart pattern. The cup and handle formation is a well-known bullish pattern that suggests a strong upward movement after the consolidation phase is completed. By measuring the depth of the cup, analysts estimate that Pepe’s next price target could be around $0.000028, a potential increase of about 45% from its current price.

Adding further weight to the bullish outlook is the presence of two other technical patterns: the falling wedge and the morning star. The falling wedge, formed by two converging downward trendlines, is a well-known bullish reversal pattern, often indicating that the price is preparing to break out to the upside. Meanwhile, the morning star candlestick pattern, characterized by a small body with upper and lower shadows, signals a potential reversal and upcoming price increase.

These patterns collectively suggest that Pepe is on the cusp of a bullish breakout, with an initial target of $0.000025, the highest level achieved so far this year. The next resistance level beyond that could be the previously mentioned $0.000028, which is 45% higher than its current price.

Market Sentiment and Future Catalysts for Pepe

Pepe’s price movement is largely influenced by broader market sentiment and the behavior of key market participants. Given the growing trend of whale activity, exchange outflows, and technical signals pointing toward a bullish continuation, the outlook for Pepe remains optimistic.

As the third-largest meme coin by market capitalization, Pepe has carved out a significant niche within the meme coin market, challenging the dominance of Dogecoin and Shiba Inu. Its strong community support, large market cap, and active trading volume position it as a formidable asset in the meme coin space. If the current trends persist, it could see significant price appreciation in the coming weeks.

Conclusion: Should You Buy or Wait?

For potential investors, the key question remains: is now the right time to buy Pepe, or is it better to wait? Based on current data, there are strong indications that Pepe could rise by 45%, driven by whale activity, declining exchange supply, and positive technical indicators. While the cryptocurrency market remains volatile, Pepe’s fundamental and technical strengths make it a strong candidate for those looking to capitalize on the meme coin market's potential.

As always, investors should carefully consider their risk tolerance and conduct thorough research before making investment decisions. With its ongoing developments and robust trading activity, Pepe continues to be a meme coin worth watching closely in the coming months.