Will PEPE Hit $0.000021? Whale Moves $10.99M Amid Market Rally

The crypto market has seen a strong recovery, with total valuations reaching $3.5 trillion. 

As Bitcoin (BTC) remains around $100,000, the meme coin sector has grown to a $107 billion market cap. PEPE has been among the top-performing tokens, recording a 8.97% increase in the past 7 days. Investors are now watching if the rally can push PEPE to $0.000021.

PEPE Price Movement and Key Levels

PEPE was trading at $0.00001842 at press time, with a 24-hour trading volume of $1.11 billion. The price has increased 8.97% over the past week but dropped 1.40% in the last 24 hours. The circulating supply stands at 420 trillion PEPE, giving it a market cap of $7.76 billion.

Technical analysis shows that PEPE is consolidating near the lower Bollinger Band, with support at $0.000016000. Resistance is set around $0.000021000, a level that, if broken, could signal a stronger uptrend. 

Analysts suggest that a move above this resistance could lead to further gains, while a drop below support may trigger a decline.

Market Trend and Analyst Projections

The ADX (14) at 18.13 indicates that the trend is weak, meaning PEPE is in a consolidation phase. The DMI (14) readings of +DI at 18.6865 and -DI at 18.1300 suggest a slight bullish advantage but no strong momentum. If ADX moves above 25, it would confirm a stronger trend.

Crypto analyst Ali Martinez has pointed out that the TD Sequential Indicator has triggered a buy signal for PEPE. Martinez believes that this setup could push the price to $0.000021, aligning with the 38.20% Fibonacci retracement level at $0.00002190. 

The price pattern also suggests a potential Double Bottom Reversal, which could support further gains.

Whale Activity and Market Reactions

A major PEPE holder, identified as wallet address 0xBE2, has deposited 588 billion PEPE tokens—worth $10.99 million—on Kraken. This deposit has raised speculation about whether the whale intends to sell its holdings. 

The investor had accumulated PEPE for $5.2 million over seven months and currently holds an unrealized profit of 141%, valued at $7.34 million.

3 hours ago, a whale 0xBE2 deposited 588B $PEPE (~$10.99M) to #Kraken.

7 months ago, he accumulated those tokens with $5.2M.

Not sure whether he sell it but his unrealized profit ~$7.34M with ROI 141%

Address:https://t.co/w6ZQmLVtCl pic.twitter.com/vPyuv2LPmM

— The Data Nerd (@OnchainDataNerd) January 16, 2025

This transaction has led to uncertainty about the short-term price movement of PEPE. If a large portion of these tokens is sold, it could increase selling pressure, potentially affecting PEPE’s price recovery. 

On the other hand, if the whale holds, the rally might continue, pushing PEPE towards $0.00002250, which aligns with the 61.80% Fibonacci retracement level.

What to Expect Next for PEPE

PEPE’s price is currently moving within a defined range, with $0.000017393 as a key support level and $0.000021 as a target for further gains. The ongoing market recovery and increased investor interest in meme coins could support higher prices. 

However, whale movements and overall market conditions will play a crucial role in determining PEPE’s next move. Traders will be closely watching for any breakout above resistance or a breakdown below support to assess the next price direction.

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