Pepe Price Prediction: PEPE Rallies as Justin Sun Linked Wallets Accumulate $51 Million

Pepe ($PEPE) gained momentum on October 29 as renewed buying activity, rising derivatives participation, and reported whale accumulation supported its recovery. The meme coin traded at $0.0000055055, marking a 6.10% increase over 24 hours and a 12.05% gain over seven days. Its daily trading volume reached $818.2 million, while its market capitalization climbed to approximately $2.13 billion.

$PEPE Price Analysis Shows Bullish Momentum

$PEPE’s daily chart shows improving momentum after the price broke above the $0.00000476 Fibonacci retracement level. The token also trades above its 20-day, 50-day, 100-day, and 200-day exponential moving averages.

This alignment supports the bullish outlook and suggests buyers have strengthened their position. Besides, recent higher lows indicate that demand has improved during the recovery.

The immediate resistance sits near $0.00000518. A decisive breakout above this level could open the path toward $0.00000550.

On the downside, $0.00000476 represents the first significant support. The 20-day EMA near $0.00000444 provides another level to monitor. A breakdown below that average could expose $PEPE to further weakness toward $0.00000428.

Significantly, the Bollinger Bands %B indicator stands at 1.06, placing the price above the upper band. This reading reflects strong momentum but also raises the possibility of a short-term cooling period.

Rising Open Interest Signals Renewed Derivatives Activity

$PEPE’s open interest climbed to $400.08 million on October 29, highlighting renewed participation in derivatives markets. The increase followed a prolonged decline from July’s peak above $1 billion.

During much of October, open interest fluctuated between approximately $150 million and $250 million. However, the latest recovery suggests traders have begun opening positions as prices strengthen.

Exchange Flows Reveal a Mixed Market Picture

$PEPE’s exchange flow data presents a more complicated picture. Outflows dominated several periods throughout the year, including substantial negative netflows during January and February.

Although inflow spikes appeared in April, August, and September, they failed to establish sustained positive netflows. On October 29, $PEPE recorded a negative netflow of approximately $1.53 million.

Justin Sun-Linked Wallets Draw Attention to $PEPE

Reported accumulation by wallets linked to Justin Sun has emerged as a potential catalyst for $PEPE’s latest rally. The wallets reportedly built a $51.25 million position through substantial withdrawals from Poloniex over 10 days.

Such movements can influence market sentiment because investors often monitor large holders for signs of renewed interest. Moreover, withdrawing tokens from exchanges can reduce the supply immediately available for trading.

Technical Outlook for Pepe ($PEPE) Price

Key levels remain well-defined as $PEPE extends its bullish momentum:

Upside levels: $0.00000518 and $0.00000550 represent the immediate resistance targets. A breakout above $0.00000550 could open the way toward higher psychological levels.

Downside levels: $0.00000476 serves as the first key support, followed by the 20-day EMA near $0.00000444 and additional support at $0.00000428.

Resistance ceiling: $0.00000518 is the immediate hurdle bulls must overcome to sustain the rally. $PEPE trades above its 20-day, 50-day, 100-day, and 200-day EMAs, reinforcing the bullish daily structure. However, a Bollinger Bands %B reading of 1.06 signals potential short-term overheating after the recent advance.

Will Pepe Price Go Up?

Pepe’s price prediction hinges on whether buyers can defend $0.00000476 and push the token above $0.00000518. Rising open interest, which reached $400.08 million on October 29, indicates renewed derivatives activity.

Additionally, reported accumulation by wallets linked to Justin Sun has drawn attention to $PEPE’s recovery. Exchange outflows of $1.53 million also suggest fewer tokens entered exchanges than left them.

If buying pressure continues, $PEPE could retest $0.00000550 and establish a stronger upward trend. However, failure to hold $0.00000476 could expose the token to $0.00000444 and $0.00000428. For now, $PEPE maintains a bullish technical structure, but sustained demand and a confirmed resistance breakout will determine its next move.