Pepe Price Prediction: Pepe Bounces 3.4% Off Key Support, Defying Whale Pressure—Is a Bullish Reversal Next?

Pepe crypto surprised the market with a 3.4% rebound, defying bearish pressure and sparking fresh debate over whether this meme coin is preparing for a trend reversal.

After an impressive 60% surge earlier in July, Pepe coin faced heavy selling, retreating more than 25% from its local high of $0.00001473. But a recent bounce from the key $0.00001088 support zone has reignited interest, especially as the memecoin sector shows signs of renewed activity. With Pepe price now hovering around $0.00001119, analysts are closely watching whether this recovery has legs—or if whales and weak sentiment will drag it lower again.

Pepe Whale Activity Adds Fuel to the Fire

On-chain data reveals a mixed picture when it comes to large holder behavior. According to IntoTheBlock, there was a 45% surge in high-value Pepe transactions on July 29. This spike in activity may suggest that certain whale investors are accumulating Pepe tokens, anticipating a market reversal.

PEPE falls 5% as whale selling and outflows shake the memecoin market. Source: @WormChester33 via X

However, this accumulation follows a notable wave of sell-offs just days earlier. Whale wallet tracking from Nansen shows a 0.1% decline in large wallet holdings and a 0.5% decrease in Pepe coin balances on exchanges over the past week—indicators of cautious sentiment or strategic exits.

Technical Indicators Show Signs of Recovery

From a technical standpoint, several indicators are signaling a potential shift in momentum. The Relative Strength Index (RSI) has moved closer to oversold territory, a level often followed by renewed buying interest. If the bulls manage to gather sufficient volume, analysts suggest the Pepe price could test the $0.00001215 resistance in the short term.

PEPE remains bullish after reacting to a key Fib level, unless it closes below $0.00000918. Source: ohDANG on TradingView

Additionally, the MACD (Moving Average Convergence Divergence) on the 4-hour chart is showing weakening bearish momentum. Histogram bars are shrinking, and moving average lines are beginning to converge—an early sign of a possible bullish crossover.

Despite these positive signals, market volatility remains high. Recent price action has been marked by lower highs and increased selling pressure during rebounds, which could mean the market hasn’t fully shaken off bearish control yet.

Exchange Activity and Trading Volume Highlight Market Caution

Data from CoinDesk’s technical analysis reveals that trading volume for Pepe reached 6.91 trillion tokens in just one hour, setting a short-term ceiling near $0.000011692. However, late-session trading failed to maintain momentum, with rejection observed at $0.000011549 and prices dropping to intraday lows.

Pepe coin was trading at around $0.00001156, up 0.07% in the last 24 hours at press time. Source: Brave New Coin

Lack of follow-through from buyers at the support level of $0.000011525 reflects broader investor hesitation, even in the face of potential reversal signals. The absence of strong demand at key technical zones suggests caution still dominates the sentiment.

This underperformance was mirrored across the memecoin sector. The CoinDesk Memecoin Index (CDMEME) dropped by 6%, signaling weakness in meme-based assets like Pepe coin, which struggled to attract sustained bullish interest amid broader market uncertainty.

Is Pepe a Good Investment Going Forward?

The recent bounce in Pepe price offers some hope to bulls, but the path forward remains uncertain. With whales exerting mixed pressure, technicals showing tentative recovery, and broader memecoin sentiment weakening, Pepe coin predictions remain divided.

Still, for many in the community—particularly supporters of Wall Street Pepe and the based Pepe subculture—the token’s volatility is part of its allure. Discussions around “Can Pepe coin reach $1?” continue to surface, though analysts caution such milestones are long-term speculative at best.

For now, Pepe news today centers on whether this rebound marks the beginning of a sustained rally—or just a pause before further decline. Traders and long-term holders alike will be watching closely in the days ahead as Pepe crypto news develops.