The new month has seen market participants flip from capitulation to accumulation, bringing new bullishness to the PEPE price outlook as volume tops levels unseen since early June.
Over $1.4 billion in transaction volume over the past 24 hours has pushed the meme coin to a 15% gain to start July, and it appears to be driven by more than purely retail flows
Whales are core contributors to this accumulation, increasing their holdings by over 5% over the past month to top $7.95 billion, according to Nansen data.
Smart money typically moves ahead of the market, placing interest in the month to come as a potential reversal point as PEPE remains 60% below its late-2024 high.
The total PEPE supply on exchanges has also dropped to its lowest level in over two years, falling to 246.82 trillion—a 2.66% decline since early July.
Pepe supply held on exchanges. Source: Nansen.
Fewer tokens on exchanges typically signal a shift toward HODLing, as investors move holdings into self-custody.
Pepe Price Analysis: Is This the Start of a Push to $1?
The early July surge has pushed Pepe to retest critical support at $0.00001035—the final barrier to confirming the breakout of a 6-month cup and handle pattern.
Having completed the corrective ABC phase of a potential Elliott Wave structure, mid-June now stands as a likely local bottom, favoring bullish continuation within the pattern’s broader trend.
PEPE / USDT 3-day chart, cup and handle breakout. Source: TradingView, Binance.
Momentum indicators tell a similar story: buy pressure is returning.
The RSI has sustained a lasting uptrend for the first time since the downtrend forming the handle began, now sitting just below the neutral line at 49 as buyers step back in.
The MACD is also flashing bullish signals. While the daily chart has already confirmed a golden cross, the 3-day time frame could soon follow suit, hinting at a potential longer-term uptrend.
More so, the MACD en route to cross above the signal line in a potential golden cross. While it has already formed on the 1-day chart, the 3-day time frame points to a longer-term uptrend.
Should the PEPE price close above $0.00001035 decisively, the pattern projects a technical target in line with the 1.618 Fibonacci level at $0.00002160—a 117% gain from current levels.
The coveted $1 target will likely hinge on more sustained long-term growth driven by increased adoption and deflationary measures like token burns, given the meme coin’s current $4.28 billion market cap.
However, if it fails, PEPE risks a false breakout and a continuation of its current downtrend.
The next key support $0.0000079—aligned with the end of the prior Elliott Wave structure—potentially signaling a deeper correction.
This Under-the-Radar Narrative Could Shape the Next Bull Market Winners
The last bull run collapsed when the now-bankrupt exchange giant FTX was exposed for misusing customer funds—the narrative of the next bull run will have an emphasis on security and self-storage.
Best Wallet ($BEST) aims to fill this gap as the next-generation self-custody solution, bringing a robust set of features to challenge the dominance of MetaMask and Phantom.
But it’s more than just a wallet. It introduces innovative tools like “Upcoming Tokens”—a crypto screener that helps users spot early opportunities while they still fly under most investors’ radar.
This utility extends to TradFi with Best Card—replacing the traditional debit card—allowing seamless real-world transactions using stablecoins anywhere that Mastercard is accepted.
This vision has already attracted over $13.6 million in initial funding for its $BEST utility token. Its app is already featured on Google Play and the App Store.
To learn more about Best Wallet, follow its official X, Telegram, or visit the Best Wallet website.
The post Pepe Price Prediction – Whales Accumulating Fast as Volume Explodes Past $1.4B: Is $1 PEPE Still in Play? appeared first on Cryptonews.
