PEPE price trend targets $0.000010 as a falling wedge breakout rally sees a surge in whale holdings.

With a bullish recovery in the crypto market, the meme coin market segment has reached a valuation of $56.48 million. Following the recent short-term

Pepe price has struggled to rise above the $0.0000090 handle as the bull run faces rejection from the 50-day EMA line. A failure to sustain gains over the 50-day EMA could open the door for a return to the $0.0000060 support.

On the other hand, a decisive break above the 50-day EMA could pave the way for a test of the 23.6% Fibonacci level, which is providing support at the $0.000010 psychological mark. A successful clearance of this resistance could propel Pepe prices towards the $0.000013344 resistance.

Despite the pessimistic outlook, it’s worth noting that the MACD indicator is showing signs of bullish momentum, with both the MACD and signal lines remaining in the positive territory. This suggests that the meme coin could continue to see buying pressure in the coming days.

However, it’s important to note that the 50, 100, and 200-day EMA lines are still maintaining a negative alignment, which could pose a challenge for the bull run in the long term.

Earlier this month, an early Pepe investor, Qianbaidu.eth, withdrew 506.2 billion PEPE, valued at $4.4 million, from Binance. The investor, who had a floating profit of $164K and previously booked a profit of $7.34 million, is known for making massive trades.

The investor's remaining holdings in PEPE amount to 699.8 billion, which is nearly $5.11 million at current prices.

As the investor returns to the market, we're also seeing a huge increase in whale holdings, especially in the balance of 1 trillion to 10 trillion PEPE.

From 131.81 trillion PEPE in early March, the holdings have now risen to 152.01 trillion PEPE. This signals that there's been a strong interest in the meme coin among major investors.

At the beginning of the year, when Pepe was launched, it quickly gained popularity and hit a peak price of $0.000015. However, the meme coin faced a sharp decline in the latter half of the year, even falling below the $0.0000050 support in December 2024.

As the new year began, Pepe's price recovered, breaking through the $0.0000080 resistance and aiming for the next key level at $0.000010. This recovery was fueled by the broader crypto market rebound, which saw Bitcoin price attempting to break above the $50K resistance.

If Bitcoin manages to sustain gains above $50K, it could set the stage for a continuation of the bull run, potentially pushing Bitcoin towards the $60K resistance. This, in turn, could support further recovery in the altcoin market, paving the way for Pepe to rise towards the $0.000013344 resistance.

However, a failure to hold above $50K could lead to a return of selling pressure, dragging Bitcoin back towards the $40K support. This scenario could also put pressure on the meme coin market, potentially pushing Pepe back towards the $0.0000050 support. Nonetheless, only time will tell which way the market will ultimately swing.