PEPE Marks Bottom After Scary Market Crash, Enters Wave 3 With Over 500% Promise

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A cryptocurrency expert has predicted that the price of Pepe (PEPE), currently the third-largest meme coin by market value, has reached its lowest point for this cycle following a significant market downturn that erased much of its potential gains from 2025. Using the Elliott Wave theory as a guide, the analyst believes that Pepe’s price movement indicates it is about to enter Wave 3, which they anticipate will result in a bullish recovery with an estimated increase of up to 594%.

Pepe Hits Market Bottom After Price Crash

On the 13th of January, a well-known crypto analyst named ‘Slick’ declared that the market bottom for Pepe had been reached, indicating a possible shift from a decline to an uptrend. Sharing a comprehensive chart on platform X (previously Twitter), Slick examined Pepe’s price fluctuations, emphasizing wave patterns and Exponential Moving Averages (EMA).

The chart separates Pepe’s price movement into three segments: Wave 1, Wave 2, and Wave 3. In Wave 1, we observe an initial increase in Pepe’s price that sees the attainment of two temporary highs. Subsequently, Wave 2 demonstrates another pair of local highs and a correction phase that dips below the 200-day moving average.

According to Slick’s analysis of Pepe’s price fluctuations, he predicts that the meme coin will soon enter Wave 3. He believes this wave could lead to a substantial increase in its value. Furthermore, Slick identifies the 200-day Exponential Moving Average (EMA) as an important support level. Whenever Pepe’s price dips to this support, it is referred to as a “fear phase,” indicating a period of apprehension in the broader market.

In Waves 1 and 2, two significant highs have been identified. These highs serve as intermediate resistance levels where the price may correct after a brief uptrend. The first high, referred to as Top 1, signifies the conclusion of a short-term rally, while Top 2 represents a surge to a secondary level of resistance.

As a crypto investor, I’ve found it intriguing that the analyst has expressed a high confidence (70%) in his prediction about Pepe hitting its bottom. This estimation seems to line up with Pepe’s recent drastic price plunge to unprecedented lows. Looking at the numbers from CoinMarketCap, Pepe has undergone a steep drop that erased approximately 26.45% of its worth over the past month – quite a frightening decline indeed.

1) The cryptocurrency continues to follow a strong downward trend, decreasing by around 16.20% over the last seven days. Meanwhile, Pepe is showing similar levels of volatility and bearishness common among most meme coins. Notably, Dogecoin and Shiba Inu have declined by approximately 12.5% and 11.2%, respectively, during this timeframe.

Analyst Forecasts 594% Pepe Price Rally 

Discussing Pepe’s downward trend and possible market recovery point, Slick also highlighted a positive aspect, suggesting an imminent rebound. The analyst has established a price and market worth goal for Pepe, expressing optimism that the meme coin with a frog theme could reach a 50 billion market capitalization, leading to a substantial increase in value.

The dashed lines on the graph represent anticipated price fluctuations in the future for Wave 3, which differs from Waves 1 and 2 as it recorded a single peak instead of two. After reaching this local high, there was a subsequent drop to the 200-day Moving Average (MA).

According to Slick’s analysis, Pepe might follow a pattern similar to past price movements, with two peak prices before a substantial price drop occurs. The analyst estimates that the peaks in Wave 3 for Pepe could propel its value up to an astonishing 594%, reaching a new bullish goal of $0.000118 from its current trading price of $0.00017.

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2025-01-14 15:40