Despite a 3% intraday drop, PEPE remains resilient at major support, with rising on-chain activity hinting at strategic accumulation among large holders.
The PEPE/USDT pair continues to attract market attention as the meme token stabilizes near its critical support zone around $0.00000069, following a brief 3% pullback over the past 24 hours. While short-term sentiment appears cautious, technical indicators suggest that the token’s consolidation may be setting the stage for a potential recovery, especially as trading volume shows an uptick linked to large wallet activity.
At the time of writing, PEPE trades at approximately $0.000000692, testing the green support range between $0.00000063 and $0.00000070. This area has historically acted as a strong demand zone, absorbing selling pressure during previous downtrends. The chart structure also reveals a descending channel breakout in mid-year, followed by an extended correction that has now found footing at this same support level.
Volume data indicates a notable surge in transactions exceeding average daily levels, often interpreted as evidence of whale repositioning or accumulation. “The market is showing clear signs of accumulation at these levels. If support holds, we could see a technical rebound toward the $0.00000090 resistance in the short term,” said BitXJournal technical analyst observing meme coin market structures.
Still, resistance remains firm between $0.00000100 and $0.00000150, marked by the red zones on the chart where previous rallies were rejected. A sustained close above these levels could confirm a shift in market momentum, while a failure to defend $0.00000065 might expose PEPE to deeper retracement toward $0.00000055.
BitXJournal market strategist noted that PEPE’s resilience amid a broader memecoin cooldown underscores persistent investor interest. “Despite volatility, the coin continues to maintain key liquidity levels, suggesting that larger players are positioning quietly,” the strategist said.
While short-term price action shows hesitation, PEPE’s ability to hold above the $0.00000069 support remains a key technical signal. With volume rising and large addresses showing renewed activity, analysts are watching closely for confirmation of a potential reversal. For now, the $0.00000070 mark stands as the battleground between accumulation and capitulation, defining the next directional move in the weeks ahead.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.