Pepe (PEPE), the popular meme coin, is capturing attention once again as it hovers near a key support level. Traders and analysts are closely watching for signs of whether the recent correction is ending or if deeper consolidation is still likely.
The token’s current position may determine whether it can maintain momentum and set the stage for a significant rally toward $0.00005 in the coming months. With both technical indicators and community sentiment in focus, Pepe’s next moves could signal a broader trend in the meme-coin market.
Correction Phase Under Observation
Unlike previous periods of rapid gains, Pepe (PEPE) is currently stabilizing after completing its initial upward move, or Wave 1, according to Elliott Wave Theory. Instead of a sharp pullback, analysts are noting that the token may be experiencing a gradual consolidation phase, which could help absorb selling pressure and prepare for the next bullish wave.
Pepe (PEPE) has completed Wave 1, is likely to correct toward $0.0000040 before Wave 3, and could rebound to $0.00005 in the coming months. Source: vmoradian6 on TradingView
This phase is being closely monitored by traders, as a stable base at key support could increase confidence in a potential Wave 3 rally. Short-term fluctuations in Pepe crypto price are expected, but the overall setup suggests that the market may be positioning itself for a stronger recovery.
Key Support Level Emerges
PEPE has found support at 0.000005770, and holding this level is considered crucial for sustaining bullish momentum.
“Found support at 5770. Again, this is the area bulls really want to hold for continuation up.”
PEPE/USD has found support at 0.00000577, a key level bulls aim to hold to maintain upward momentum. Source: Crypto Tony via X
A deeper correction toward $0.0000040 is still possible, representing the bottom of Wave 2 and a potential buying opportunity. If this occurs, the token could be well-positioned for the next upward leg—typically the most profitable phase in the cycle.
Technical and Sentiment Backdrop
Technically, Pepe coin price shows signs of both pressure and recovery potential. The 7-day RSI is heading towards oversold levels, which is a sign of a likely reversal, while the Fibonacci retracement at $0.0000067 is support.
The PEPE bear market appears to be ending, with potential for daily gains of up to 25%, signaling traders to prepare for renewed bullish momentum. Source: STEPH IS CRYPTO via X
Sentiment-wise, Pepe crypto remains highly sensitive to community hype and online popularity. Even fundamentals-driven traditional cryptocurrencies are not as likely as meme coins like PEPE to be influenced by social activity and hype. This upcoming technical support and strong community demand coming together point to a potential bounce if market sentiment remains favorable.
Outlook: Rally Towards $0.00005 in 2025?
If the correction phase ends and Wave 3 sets in, the bullish case for Pepe price forecasting 2025 indicates a target around $0.00005. This would be a strong move from current prices and an indication of restored market confidence.
Pepe was trading at around $0.000006650, down 3.14% in the last 24 hours at press time. Source: Brave New Coin
There are analysts, however, who have a conservative stance, predicting Pepe coin to range between $0.000004 and $0.000016 in 2025 based on its volatile, meme-coin nature.
What to Watch
Traders are watching closely to see if PEPE continues to stay supported at around $0.00000577 or maybe near $0.0000040. Holding these prices will further strengthen the case for resumption of the uptrend and confirm the end of Wave 2. Getting back to health will also depend on the volumes of trades as well as genuine buying interest, which are required for a meaningful bounce.
At the same time, the broader crypto market context matters as well. Because PEPE is a meme coin, it will track Bitcoin and general sentiment. Hype, influencer presence, and community participation can become Wave 3 drivers and start the next big rally.
Final Thoughts
Pepe (PEPE) continues to attract market attention as it approaches the final phases of Wave 2 correction. The area around $0.00000577 has the potential to serve as a turning point—either to facilitate a breakout or prolonged consolidation if broken.
With renewed hope in meme coins, enthusiastic community engagement, and rising investor interest, PEPE’s performance would determine its position in the overall crypto landscape for 2025. However, as with every high-risk meme asset, investors should carefully monitor technical levels, be self-disciplined, and not base decisions on pure short-term sentiment.