The PEPE token, which has seen a decline in interest over recent months amidst falling popularity of meme coins, is drawing attention again with recent price increases and market activity.
Recent Hacker Purchases of PEPE
Lookonchain reported that five wallets spent around $4.3 million in just eight hours to acquire over 610 billion PEPE tokens. These addresses withdrew ETH from Tornado Cash, a tool frequently used by fraudsters and hackers, two weeks ago.
Current Market Situation for PEPE
Currently, PEPE is the third-largest meme coin with a market cap of about $3 billion. Following the US elections, it experienced significant price gains, reaching its peak at the end of the year, but is currently trading 75% below that peak. Nevertheless, the token has risen 13% over the past week, amidst a general revival of interest.
Predictions and Potential Trends
Analysts are becoming optimistic about PEPE's future. BOBO noted a clear double 'W' pattern on the chart, which may indicate a potential trend reversal. If the price breaks the resistance level at $0.000009, a noticeable shift in market sentiment is anticipated. Other analysts, such as Bitcoinsensus, also suggest that the cryptocurrency could reach $0.00009 by August 2025, which would indicate a growth of over 1100% from current values.
Overall attention towards PEPE is resuming, despite its significant declines. The further development of the situation will depend on the token's ability to overcome essential resistance levels and renew investor interest.
