PEPE Reclaims Bullish Structure as Rally Hits 45%

Published: 2026-09-23 09:14:24 |

PEPE has shifted from a whale-led bearish setup to a stronger but volatile breakout structure. Earlier, PEPE traded near $0.00000348 after rejecting its 200-day EMA at $0.00000364. Wallets holding 10 million to 100 million PEPE sold about 80 billion tokens, while smaller and mid-sized holders accumulated only 5.06 billion. Negative funding, a bearish MACD crossover and weakening RSI added to downside risks. A daily close below $0.00000313 could have exposed PEPE to around $0.00000230, while reclaiming $0.00000364 would have improved the outlook. In the latest update, PEPE trades near $0.00000492 after retreating from a seven-day high of $0.00000534. PEPE remains about 45% higher over the week and above the $0.0000044 breakout zone. Traders are watching $0.0000047 as immediate support and $0.0000044 as key structural support. A daily close below $0.0000044 could return PEPE to its previous range, while a move above $0.00000534 would confirm a fresh local high. Momentum has cooled, with the 14-day RSI falling from 78.09 to 51.37 and the MACD line remaining below its signal line. The September golden cross still supports the broader bullish trend, although historical signals have been mixed. PEPE open interest is near $393 million, against about $912 million in 24-hour futures volume and $267 million in spot volume. Futures liquidations reached roughly $1.96 million in 24 hours. Elevated leverage raises liquidation risk but does not show whether traders are net long or short. Holding $0.0000047 would preserve the breakout, while losing $0.0000044 would increase downside risk.

Neutral

PEPE’s price structure has improved materially from the earlier bearish setup. The token is about 45% higher over the week and remains above the $0.0000044 breakout zone. The golden cross also supports the medium-term trend. However, the rally has lost momentum, with RSI falling sharply from overbought territory and MACD remaining bearish. Elevated open interest and futures activity could amplify short-term volatility and liquidations. Whale selling and negative derivatives signals from the earlier phase also show that supply and positioning risks remain. Holding $0.0000047 would support further consolidation or a retest of $0.00000534. A break below $0.0000044 could trigger renewed selling and a return to the prior range. These conflicting signals make the immediate price impact neutral rather than clearly bullish or bearish.