Pepe (CRYPTO: PEPE) jumped 16.5% over the past week, decisively outperforming Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which posted gains of about 6% during the same period.
Whale Accumulation, Supply Burn Fuel Momentum
According to social analytics platform LunarCrush, speculation is mounting that PEPE may be staging a broader comeback as whale wallets reportedly accumulate trillions of tokens and sentiment improves.
Key drivers behind the renewed interest include:
- Cultural dominance (30%): Supporters argue Pepe’s meme appeal rivals early-stage Dogecoin and Shiba Inu, fueling narratives that it could become the next meme coin leader.
- “Free money” narrative (25%): Influencers are positioning PEPE’s current market cap as an attractive entry point with asymmetric upside.
- Token burn catalyst (20%): A reported burn of 7 trillion PEPE tokens, reducing overall supply, is being viewed as a bullish structural shift.
Together, whale accumulation, improving sentiment and supply reduction are reinforcing short-term bullish momentum.
Trendline Break Signals Shift
Market analytics firm Whale Factor said PEPE has officially broken its multi-week downtrend line with a strong impulse candle, confirming a potential structural shift.
Key technical developments cited include:
- Confirmed downtrend break
- Volume shelf holding
- Liquidity grab completed
- Fibonacci upside targets activated
The 0.618 Fibonacci retracement level now stands as the first major upside target. Analysts suggest a retest of the broken trendline or nearby support could offer a higher-probability entry for traders who missed the initial breakout.
“History in the making,” Whale Factor concluded — though whether this rally evolves into sustained leadership or fades like prior meme coin spikes remains the key question.
Image: Shutterstock
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