- PEPE price was holding a key accumulation zone $0.0000091–$0.0000112 and still above the trendline support.
- There were now 441.89K PEPE holders, whales owning 46.15% of the tokens and the majority of addresses having less than $1K of PEPE.
- Pepe coin’s social volume started to rise since the end of April after a period of decline.
The meme coins slowly reignited, but a complete reversal that could see most of them recover their previous cycle highs was still to be confirmed.
PEPE coin price prediction analysis gave a detailed view of the potential movement with a combination of a couple of metrics in addition to price action analysis.
PEPE Coin Price Prediction Analysis
PEPE remained above its major support and hoarding zone, which is from $0.00000910 to $0.00001129. This area overlapped with the trendline support, which showed strength and meant the asset could soon break out.
Recently, the price went back to this level, indicating a bullish signal since it was able to rise near $0.00001120.
As the price kept rising, the next area to slow down was the resistance zone at $0.00001478 and a clear breakout would aim for $0.00001775.
It’s key to watch the support at $0.00000910 and $0.00001129, resistance at $0.00001478 and $0.00001775. The large upside goals were at $0.00002500, $0.00003500 and $0.00005500.
Breaking above $0.00001775 and holding at a high level might lead to more gains toward the $0.00002500–$0.00003500 zone.
If price managed to drop past $0.00000910, a rally down toward $0.00000631 or $0.00000542 may happen.
Should the breakdown take place, the upward potential would end, and price action resuming its upward trend would be delayed.
Price remaining above the trendline could help support the bullish trend, which suggested PEPE could continue its rising trend if its value remained above the line.
Having a price above $0.00001129 was still important. If control remained with buyers, PEPE might rise by 5 times to $0.00005500.
Overview of PEPE Coin Analytics
There were 441.89K PEPE holders with a total market cap at $4.9B, whales own 46.15% of the tokens, and the majority of addresses have less than $1K of PEPE.
Between April 28 and the time of writing, the number of wallets rose, and as many as 20,000 new users joined in just over a month.
As the trend continued, the market cap increased, which verified that there was still great demand for PEPE.
Nonetheless, most of the addresses (86.6%) held less than $ 1,000 of PEPE and were therefore unlikely to significantly influence prices.
While whales own 46.15% of the tokens, this made them susceptible to big PEPE sell-offs. Even so, most of the total supply was held by just a few people, so the market was still quite diversified.
About 63% of coins were cruising for weeks or months, 29% were owned by long-term holders, while 8% traded daily, showing a hold for the long-term mentality.
Should momentum and new holders increase, PEPE might climb. A sudden increase in whale selling may cause volatility, which is why caution is needed.
What Social Volume Means for PEPE Coin Price Prediction
Lastly, after being low for so long, the social volume of PEPE spiked sharply on the Santiment chart.
Whenever the prices go up or some new interesting news breaks out in the early part of June, the members of the community could be interested in PEPE again.
Many times, a lot of social media mentions foreshadow or appear at the same time as price shifts, which usually come from increased retail involvement.
If people’s enthusiasm continues and they keep participating, PEPE could experience short-term gains. If the social mentions decrease again, this could mean that only a small number of people stay interested.
For now, increased activity might support bulls, though for it to matter, prices must also increase with actual network action or demand from the market.
But if the jump was just noise from speculators, it might only lead to a brief surge that would be quickly followed by a drop.
Social volume was a major signal, yet it showed even if people were interested, not that they would definitely buy.
