1 week ago
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TLDR
Pepe has recovered 7% from recent lows to trade at $0.00001143 Major whale accumulated 154.29 billion PEPE tokens worth $1.7 million Dogecoin Millionaire Glauber Contessoto now holds $1.116 million in PEPE Technical analysis shows breakout from descending channel pattern Analysts target $0.00001500 if key resistance levels are clearedPepe has staged a 7% recovery from recent lows, trading at $0.00001143 after finding support near the $0.00001050 level. The meme coin’s price action has caught the attention of both retail traders and institutional players.
PEPE Price
Large-scale wallet activity has increased over recent days, with whale wallets beginning to reaccumulate PEPE following a key technical breakout. According to data from Whales_Crypto_Trading, this shift in behavior often precedes sustained uptrends in cryptocurrency markets.
Pepe is finally breaking out of a bullish pennant pattern🚀
A successful breakout could trigger a massive bullish wave📈
Expecting potential 2x gains if the breakout is confirmed👨💻
👇Crypto Traders-join Telegram👇 https://t.co/4ApYM0WgpD
. pic.twitter.com/PQUOhzwIOf
— Whales_Crypto_Trading 🐋 (@WHALES_CRYPTOzz) June 6, 2025
One major whale has accumulated 154.29 billion PEPE tokens for $1.7 million, according to Spot on Chain data. The whale now holds 1.38 trillion tokens with over $12 million in profits, representing a 196% gain overall.
The token’s current price represents a bounce from a recent low of $0.00001052. This recovery has lifted PEPE out of short-term oversold conditions and confirmed the $0.00001050-$0.00001060 zone as a reliable demand base.
Volume during the recent breakout was substantial, indicating that larger players are positioning themselves in the market. This activity extends beyond retail participation and suggests calculated positioning by institutional traders.
Technical Pattern Formation
From a technical analysis perspective, PEPE recently reclaimed a major resistance level and is now retesting it. This development, combined with supportive volume and market structure, presents a bullish scenario for traders.
The current consolidation is forming a symmetrical triangle pattern on the 4-hour chart. This pattern is marked by higher lows and lower highs, creating a classic squeeze setup that typically leads to a breakout in either direction.
Market structure suggests a bullish resolution may be more likely. The trendline support from May remains intact, and the price is trading within a well-established rising channel pattern.
$PEPE/USDT Weekly Analysis
PEPE is showing strength after a clean breakout above the key resistance zone. It’s now in the process of retesting that breakout level, which is a classic bullish confirmation if the zone holds.
The price has also respected the rising trendline… pic.twitter.com/oOR2YxuTti
— UniChartz (@UniChartz) June 4, 2025
Analysts are watching for a reclaim of the $0.00001283 resistance zone. A successful break above this level could target $0.00001388 or even $0.00001500 in the next leg higher.
However, traders should monitor resistance around $0.00001180-$0.00001220. This zone contains a cluster of exponential moving averages and horizontal levels that could temporarily stall any rally attempt.
A successful breakout above this range would validate the triangle pattern and reinforce upward momentum. The breakout would also convert the $0.00001180-$0.00001280 range into support for future price action.
Momentum Indicators and Whale Activity
Short-term momentum indicators point to strengthening buyer conviction. The Relative Strength Index on intraday charts has surged above 70, while the MACD recently flipped bullish with a strong crossover.
The Ichimoku Cloud is showing early signs of a bullish reversal. The Tenkan-sen and Kijun-sen lines are forming a positive twist, which typically indicates changing market sentiment.
Stochastic RSI readings are in overbought territory, suggesting a brief cooldown or sideways action may occur. This consolidation could provide a healthier base for any sustained rally to resume.
The Dogecoin Millionaire, Glauber Contessoto, has become a prominent PEPE holder. He now owns approximately $1.116 million worth of the Ethereum-based meme coin across six verified wallets.
This is me at every party ever pic.twitter.com/hVFpigD2Kq
— SlumDOGE Millionaire (@ProTheDoge) June 6, 2025
Contessoto purchased $100,000 worth of PEPE in spring 2024, alongside Brett and Dogwifhat. In February, he converted his entire Ethereum holdings into PEPE after becoming frustrated with ETH’s price performance.
“I sold out all of my ETH, completely sold everything, and put it all into Pepe,” Contessoto explained. With PEPE’s price rising 36.96% since the end of February, this decision has proven profitable.
PEPE is still trading beneath a long-standing descending trendline from late May. Bears are expected to defend this level, and failure to break above could trigger another test of lower support.
The 0.618 Fibonacci retracement near $0.00001120 serves as a key pivot level. Analysts consider this level critical for maintaining a bullish bias heading into mid-June.
PEPE was trading at around $0.00001155, up 1.15% in the last 24 hours at press time according to market data.
The post Pepe (PEPE) Price: Whales Return as Meme Coin Eyes New All-Time Highs appeared first on CoinCentral.
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