While the broader crypto market has been basking in green over the past couple of days, one frog-faced contender is hopping ahead of the pack. PEPE, the meme coin that refuses to be ignored, has surged by over 22% since May 6 — and over 60% since its early April bottom.
Once flirting with lows around $0.0000057 just a month ago, PEPE now trades near $0.0000093, reclaiming its momentum after a rough stretch. The latest rally has reignited bullish chatter among meme coin enthusiasts, with some big names making big bets.
A Whale Makes Waves
While general market optimism has lifted most boats, PEPE’s rally seems to have an extra set of propellers — courtesy of a deep-pocketed investor. Blockchain tracker Lookonchain reports that a mysterious whale scooped up 500 billion PEPE tokens worth approximately $4.36 million. This buy pushed their total stash to 2 trillion PEPE, now valued at over $17 million.
This move didn’t go unnoticed by the community and appears to have sparked renewed confidence in the meme coin’s short-term prospects.
Resistance in Sight — and a Community Buzzing
Technical analysts and traders are keeping close tabs on one key level: $0.00000926. If PEPE breaks above this resistance, many believe it could set off the next leg up. The token is currently hovering just above it.
One prominent X user, James Wynn, told his 35,000 followers that he’s gone “insanely bullish” on PEPE for the first time in a long while — and has expanded his long position accordingly.
Wynn dismissed the coin’s late 2024 spike as nothing more than “a hype pump” and claims the real bull phase might finally be on the horizon. According to him, the weekly MACD, which has been bearish for 17 weeks, is flashing signs of a major trend reversal. “Bearish momentum is fading, and we’re on the verge of a bullish crossover,” he wrote.
Moonshot Forecasts: $42B to $100B Market Cap?
Wynn isn’t holding back on his predictions. He believes PEPE has the potential to match Shiba Inu’s last-cycle peak market cap of $42 billion — or even eclipse Dogecoin’s record $100 billion valuation. With PEPE currently sitting just under $4 billion, that would mean a price explosion of between 950% and 2,400%.
Of course, such ambitious targets come with plenty of caveats, but if this rally gains further momentum — and if retail investors follow the whale’s lead — PEPE could once again steal the meme coin spotlight.
