Will PEPE rebound strongly in October?
Since the spring, PEPE's market performance has been dominated by volatility and downward behavior. However, recent signs indicate that this trend may be about to usher in an important turning point. Especially after entering the second week of September, PEPE's bullish power has increased significantly, indicating that the meme currency is likely to end this month's market on a positive note. So, can this upward momentum continue into October? How should we view its future price trend?
Looking back over the past few months, PEPE price has found support near $0.00000897 multiple times, forming a relatively stable bottom area. This phenomenon reflects that many holders have a strong willingness to hold within this price range and are unwilling to sell easily. Based on this observation, we can try to predict the short-term and long-term price trends of PEPE.
Judging from current market dynamics, PEPE has achieved an increase of approximately 42% since the September low. Based on Fibonacci retracement analysis, PEPE’s next important resistance level may be between $0.00001153 and $0.00001287. This means that if market sentiment continues to improve, PEPE is expected to rise further, and the increase may reach 26% to more than 40% in the short term.
In addition, from the analysis of holder behavior, the number of addresses holding PEPE for a long time has continued to grow since April, especially those holding PEPE for more than a year. The number of addresses has reached nearly 85,000, showing the market's firm confidence in PEPE. . Although the number of addresses in the cruiser category has declined slightly recently, overall it is still higher than at the peak in May, indicating that market participation remains high.
PEPE is currently showing strong rebound momentum after experiencing a period of decline. October is the next critical month, and its market performance is worth looking forward to. However, investors still need to remain cautious when participating in the market and pay close attention to market dynamics and changes in risk factors.
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