The Pepe price is currently trading at $0.00002128, with a market capitalization just shy of $9 billion. A closer look at its 1-hour chart reveals why experts are optimistic about the memecoin’s short-term prospects. PEPE has broken out from a bullish pennant pattern, suggesting momentum is building.
Adding to this bullish sentiment, the Pepe coin price has flipped its 50-day Simple Moving Average (SMA) into strong support. Analysts believe this could pave the way for fresh all-time highs. Notably, PEPE is outperforming all major moving average indicators across daily, weekly, monthly, and 4-hour timeframes, further boosting investor confidence.
Read Detailed Pepe Coin Price Prediction 2025 for More Insights
Ethereum’s Influence on Pepe Crypto
The Pepe crypto price has also been closely correlated with Ethereum. ETH’s 4-hour chart shows an ascending wedge pattern, and a breakout could positively impact both ETH and the price of Pepe. Similarly, the Pepe price today benefits from Bitcoin's broader market sentiment, with bulls hoping BTC flips its 50-day SMA soon.
Addressing Investor Sentiment
Despite sell pressure in December, PEPE has retained much of its November gains, signaling enduring optimism about the Pepe price prediction 2024. Long-term holders peaked at 91,210 addresses in November but dropped due to profit-taking. However, re-accumulation has pushed HODLer addresses to 91,490 as of January 3, 2025.
Swing traders (cruisers) have also shown increased activity, with addresses rising from 188,650 on December 12 to 225,950 by January 3. This accumulation has supported the Pepe crypto price recovery.
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Whale Activity and Short-Term Challenges
While short-term traders have decreased, whales remain focused on profit-taking. On January 2, large holder netflows reached 377.4 billion PEPE, reflecting significant sell pressure. This could limit the upside in the near term.
For the Pepe coin to sustain gains and reach its full potential, increased whale and institutional interest will be essential. Nevertheless, with strategic accumulation and a favorable market, the Pepe price now could pave the way for an exciting year ahead.