3 Big Reasons Why Pepe Coin Could Be the Next Meme Coin to Explode

Jakarta, Pintu News – The price of Pepe Coin (PEPE) as of June 19, stood at $0.00001042, down more than 36% from its high point in May.

Overall, its value has plummeted more than 62% from its all-time high, erasing more than $5.7 billion from its total market capitalization.

However, Pepe’s technical indicators, declining balances on exchanges, and whale buying suggest that the asset is not quite “dead” yet.

Pepe Coin Price Technical Analysis Suggests a Rebound is Coming

On the daily timeframe (19/6), the Pepe Coin price formed a double-bottom pattern at the $0.0000057 level between March and June. This pattern often triggers strong bullish breakouts, which explains Pepe’s price surge to a multi-month high of $0.00001652.

Read also: Altcoin Season Delayed? ETH/BTC Consolidation Sparks Fear of What’s Coming Next!

Currently, Pepe’s price is experiencing a correction as selling pressure increases in the crypto market, triggered by fears of a major crisis in the Middle East. Technically, this drop is still considered part of the ongoing bull run, as the price seems to be eyeing theneckline of the double-bottom pattern around $0.000009257.

This kind of price movement pattern is known as a break-and-retest and is often considered a sign of trend continuation.

The ongoing price correction also forms a bullish flag pattern. This pattern consists of two main parts: the flagpole and the flag. In this case, the flagpole starts from $0.000005741 to $0.00001625, with a length of about $0.00001050.

Currently, Pepe is forming a flag section, which is characterized by afalling channel pattern. Therefore, the price target is calculated by adding the length of the flagpole to the potential breakout point-in this case around $0.00001200.

This results in a price target of $0.00002250, up about 116% from the current level. If the price manages to break through this level, Pepe’s chances of hitting an all-time high of $0.00002827 will increase.

However, if the price drops below the $0.000009257 support, then this bullish projection will be invalidated, and Pepe risks falling back to the double-bottom level at $0.000005741.

Whale Starts Buying Pepe Coin, Balance on Exchange Continues to Decline

One of the other bullish factors for Pepe’s price is on-chain data showing that whales are starting to accumulate the asset.

As seen in the chart, whale holdings have increased to 7.61 trillion tokens, up from 7.23 trillion in the same period last month.

Accumulation by whales is often considered a positive signal for an asset, as these types of investors are generally very experienced and move based on in-depth analysis.

Another interesting data point-and also clearly visible in the chart-is the downward trend of token balances on exchanges. Currently, the balance on exchanges stands at 249.19 trillion tokens, down 2.1% compared to a month earlier.

This drop in balance indicates that investors are moving their tokens from exchanges toself-custody wallets, which usually means they intend to keep them for a longer period of time.

Read also: Shiba Inu Set to Skyrocket 194%? Whales Snatch Up 1.3 Trillion SHIB Ahead of Massive Breakout!

These two signals-accumulation by whales and declining balances on exchanges-supportthe narrative that Pepe Coin still has the potential to rise.

Pepe Futures’ Open Interest and Funding Rate Show Market Optimism

Meanwhile, activity in the futures market showed increased demand and optimism among traders.

Data from CoinGlass notes that open interest for Pepe futures contracts has surged to $537 million-the highest figure since June 12 and well above this week’s low of $457 million.

In addition, Pepe’s funding rate also remained in the green zone. This indicates that investors in the futures market expect Pepe prices to be higher than current levels. These fundamental factors could be an additional driver for Pepe Coin’s price increase.

Overall, the Pepe Coin price has experienced a downward trend in recent weeks.

However, technical indicators such as the bullish flag pattern as well as fundamental factors such as funding rates and rising open interest suggest that the potential for a rebound is strengthening and could happen soon.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Top 3 Reasons Why Pepe Coin is Not Dead Yet and Price May Surge Soon. Accessed on June 20, 2025