Pepe (PePE) has indeed shown signs of a bull market since the second week of September, and the meme coin seems poised to end the month on a positive note. However, the key is whether it can sustain the current upward momentum and reveal what October will bring.
Looking back, PEPE has been in an overall downward channel since May, finding support around $0.00000897 on multiple occasions, forming a relatively stable bottom area. This price behavior reflects that many holders are unwilling to sell below this price level, providing a basis for subsequent short-term and long-term price predictions.
So far, PEPE has rebounded strongly by 42% from the September low to $0.00000908 at the time of press release. In the short term, Fibonacci retracement analysis points to the next important target price range for PEPE between $0.00001153 and $0.00001287, which means that from the current level, PEPE has the potential to rise by another 26% to more than 40%.
Further analyzing the holdings, the number of addresses holding PEPE for a long time (more than one year) has continued to grow since April, indicating that nearly 85,000 addresses of firm holders are still present, which provides support for short-term price predictions. At the same time, although the number of short-term traders (cruiser category) has decreased slightly, it is still higher than the peak in May, showing an increase in market activity. The decline in the number of traders may mean that the market is shifting to a longer-term holding strategy, which helps reduce market volatility and creates a more favorable environment for bulls.
Looking ahead to the long term, PEPE has the potential to re-challenge its historical high of $0.000017 in the next few years, especially around 2025. However, the realization of this goal will be highly dependent on the strengthening of bullish power and the continued rebound of the market. The current market sentiment is positive, which has laid a positive foundation for the realization of this goal.
At present, I have locked in a potential black horse coin that is about to soar, and doubling is just an easy jump! The more ambitious goal is to carefully select a batch of potential coins that are expected to explode before the end of the year. I will announce the specific big moves inside, and the main business will be found and shared directly!
