It has been observed that the price of PEPE is strongly influenced by the movements of whales as they tend to hold the majority of the circulating supply. This is both a blessing and a curse, because it dictates the price movement for the rest of the investors.
Currently, their dominance is a blessing, as over the past few days these whales have been adding more and more tokens to their portfolios. Top holders have bought over 4 trillion PEPE worth over $20 million in the past 10 days alone.
PEPE price has a chance to rise as medium-term holders show signs of avoiding selling for at least 12 months.
PEPE Price Prediction: Frog May Jump 60%
This bullish pattern, also known as a falling wedge, is characterized by a narrow price range and lower highs and lows, indicating a potential bullish breakout.
Based on this formation and bullish signals from traders, the target is set at 60% above the breakout point at $0.00000633 after a potential breakout. This would take memecoin to not only cross the $0.00001000 mark, but also reach all-time highs.
However, if PEPE price breaks down and loses the support at $0.00000474 before it can break out, it will invalidate the bullish thesis. As a result, the Toad symbol will drop below 0.$00000400.