PEPE Price Leads The Charge With 18% Gain Amid The BTC Recovery

• After a significant price drop, the PEPE price showed signs of recovery, supported by broader market trends and increased investor interest.
• The crypto market is experiencing a positive shift, with the Fear and Greed Index improving and Bitcoin‘s market cap rising.
• The number of addresses holding PEPE has increased, indicating growing adoption and investor confidence.

Pepe (PEPE), the 25th-ranked cryptocurrency in the crypto market, is a memecoin based on the PEPE the Frog meme. Recently, its price has formed consistent green candles in the demand area with a nearly 18% surge. It signified that the bullish presence is rising.

The PEPE price relies greatly upon broader market movements, as it has a 0.9 price correlation with BTC. The Bitcoin price is recovering from $53489 support at press time and PEPE from $0.00000600 support. Continue reading to learn how the PEPE meme coin will perform in the near future.

Pepe Crypto Market Cap Surged from the 30-day low

The entire crypto market trend has been improving, as the market cap of BTC surged by 3.56% in the last 24 hours.

With the advance in optimism, the Fear and Greed Index has needled improved market conditions from yesterday. The index was at 33, which recovered from 26. It signified that buying occurred and showed an improved risk appetite for investors.

The meme coin sector’s market cap has surged from a 30-day low of $34.91 Billion to $39.83 Billion at press time. Likewise, the PEPE crypto market cap has witnessed a surge from a 30-day low market cap of $2.69 Billion to $3.146 Billion.

PEPE Price Movement Effects On-chain

Per the price data, the gains have been halved since the peak in 2024. However, the total addresses with PEPE crypto balance have surged and have reached 272.25K addresses at press time.

Investors and whales’ concentration in this meme-coin has reached 73%, while retail holds 27% of the floating supply. The overall market change this week illustrated improved holders’ positions from certain losses faced.

As a result, 144.35K addresses (48.94%) hold in green from the bought price to the current PEPE price. While the 115.82K addresses (39.27%) still bear losses, these might be the asset’s late joiners or cruisers.

The 34.78K addresses (11.79%) are at break even, and their possession is not facing any loss or profit.

Similarly, the asset’s MVRV ratios on 30 days have recovered from the low in August of the first week.

PEPE Chart by TradingView.com

Meanwhile, the volatility is lower, and the PEPE crypto price is at support, illustrating stability.

Daily Chart Analysis of PEPE Price

The volume/market cap ratio was 17.60%, representing strong liquidity in the PEPE price. Over the daily chart, the PEPE price has witnessed significant profit-taking. It resulted in a decline of 55% over the last two and a half months.

This bearish trend has also led to a falling wedge pattern on the daily chart. Furthermore, the pattern suggested that momentum may shift.

Currently trading at $0.00000747, the PEPE crypto price was pushed higher this week from the demand zone.

Per the PEPE price prediction, it might attempt to advance above $0.00000878, which could act as resistance. However, if buying pressure surges, the memecoin could break through this level and attain a character change (ChoCh).

Another critical area to monitor is the supply zone near $0.00000989, where PEPE has faced multiple rejections. The next target could be around $0.0000130 if it surpasses this zone.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.