• PEPE price rebounded from the $0.00001369 support and headed towards $0.00001725.

  • Large holders support this outcome, having purchased 2 trillion PEPE last week.

  • About 30 trillion PEPE, worth $377 million, is also on the verge of turning profitable, keeping investors motivated.

PEPE prices hit a new all-time high this week and are likely to hit another all-time high as we head into June.

Not only are investors optimistic about this, they are also driving memecoin towards this outcome.

PEPE Whale Hoarding

The price may benefit from the optimism shown by holders. Large wallet holders are strictly accumulating after a long sell-off. The PEPE supply held by the top non-exchange addresses surged by 2 trillion.

This supply, worth over $25 million, was accumulated by non-exchange top addresses in a single week. This change in behavior is consistent with price action, suggesting that whales are dictating price action.

If this behavior continues, PEPE prices could benefit from it.

PEPE's largest shareholder's shareholding. Source: Santiment

Secondly, investors are motivated to maintain bullish momentum as nearly 30 trillion PEPE is about to be profitable. According to the Global Fund Inflow/Outflow (GIOM) indicator, 30 trillion PEPE is purchased between $0.00001300 and $0.00001800.

Given that the meme coin’s all-time high is $0.00001725, PEPE would need to hit new highs to make the entire $377 million supply profitable. This would require considerable investor bullishness.

Pepe Guiome. Source: Into The Block

Their optimism will keep prices rising.

PEPE Price Prediction: Beware of This Level

PEPE price is $0.00001525 and has bounced off the $0.00001369 support level after a multi-day decline. This comes after the meme coin hit a new all-time high and is now turning into a bullish pattern with a new all-time high.

This would require PEPE to break through $0.00001725 and turn it into a support floor.

PEPE price analysis. Source: TradingView

Failure to do so will kill the chances of setting a new ATH and PEPE price, with a drop back to $0.00001369 likely as a result. Losing this support will completely invalidate the bullish thesis, sending the meme coin down to $0.00001200.

Welcome to join us - how to layout, what varieties to layout, how to maximize the profit strategy, see the homepage click here 👉Follow Home Page