On Wednesday, PEPE again showed significant gains, giving a certain group of investors hope for possible profits.

Although the meme coin is actively growing, the broader market situation is becoming an obstacle to PEPE's path to new all-time peaks.

Since late February, Pepe's price has risen 643% to reach an all-time high of $0.00001084. However, in the last week there was a price correction, which was partially compensated by Wednesday.

At current price levels, approximately $110 trillion of PEPE worth nearly $900 million are on the verge of generating profits for their owners. These coins were purchased at a 20% discount from the all-time high.

The number of investors who purchased tokens in this range totals approximately 15,300 addresses, representing 8.3% of all PEPE holder addresses and has a potential impact on the price.

These investors own approximately 25.7% of the total PEPE supply, making their actions important to price movements. Their abstinence from taking profits in the next trading sessions could support the coin's growth and possibly lead to a new all-time high.

The price is currently above the important support level of $0.00000826, which is above the 50-day exponential moving average. This gives Memcoin a chance to set a new all-time high if it does not fall below this support.

However, it should be noted that at the moment the token is overbought, which could lead to saturation of bullish sentiment and possible profit-taking.

Rejection of the bullish scenario could lead to a more significant correction and the price returning to the support level of $0.00000630 on the daily chart.