Crypto chartist and Elliott Wave analyst More Crypto Online says meme token Pepe Coin has quietly become “one of the stronger meme coins at the moment,” after its price effectively doubled from its December low. The focus of his latest update: the rally looks intact, but he’s now preparing for a potentially decisive pullback as early as next week.
The move started around December 19, when Pepe Coin (PEPE) bottomed near 0.00000036 (he calls it “0.36” in the video, clarifying it’s not 36 cents). From there, the token rallied roughly 100–101%, depending on the exchange, forming what he frames as a classic Elliott Wave 1–2 setup to the upside — a pattern many short‑term traders specifically look for.
PEPE’s Price Level That “Has To Hold” For Bounce
The analyst’s key line in the sand is the $0.000000528 area, which he describes as both the 50% Fibonacci retracement of the current rally and the lower boundary of his marked support zone.
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In his Elliott Wave count, the market is still working through a five‑wave impulse up. A fourth wave pullback, he notes, “should not break below the 50 percent retracement.” If Pepe holds above that 0.528 level during the next drop and the structure of the decline looks corrective (three waves), he would expect “one more high” to complete the pattern.
If, instead, the next move down unfolds in five waves, he warns it “would likely be a wave one to the downside,” implying a larger trend reversal and the potential for deeper losses after a wave‑two bounce.
Resistance In Sight, Attention Shifts To Structure
On the upside, he highlights two concrete resistance zones: around $0.000000795, tied to the October 13–14 high, and a more important barrier near $0.000000948, the October 10, 2025 peak where “the selling pressure started.”
He repeatedly stresses that the rally “could still go a little higher” before any pullback begins, and that the pullback “clearly hasn’t started yet.” The emphasis is less on predicting the exact top and more on how the next decline behaves. For him, that microstructure will determine whether traders can stay focused on higher prices or should start treating the recent move as a fading spike.
For investors and short‑term speculators, the message is straightforward: Pepe’s trend is still up, the recent doubling is real, but the next correction — specifically whether it respects the 0.528 zone and unfolds in three waves — will be the key test of whether this is a sustainable impulse or just another meme‑coin burst.
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People Also Ask
No. He expects a pullback soon but allows for some further upside before it starts.
Around $0.000000528, the 50% retracement of the latest rally and his main support boundary.
A five‑wave move down from the high, suggesting the start of a larger downside trend rather than a simple 4th-wave correction.
