PEPE slides around 10.5% as memecoin trading volume hits record and volatility spikes

Traders Union
All News
Crypto
Pepe slides 10.57% today

Highlights

Pepe saw its price jump and a more than 200% surge in one-day trading volume in November, making it the top memecoin by volume during the period.
Wallets linked to Justin Sun are now among the largest individual holders of Pepe, yet broad selling pressure persists.
PEPE/USD trades near $0.0000047 within a consolidation range, with mostly bullish momentum signals but overbought conditions pointing to possible near-term correction risk; the expected five-day range is $0.000004205 to $0.000005195.

Volume leadership and Sun-linked wallet activity as pressure persists

Pepe, an Ethereum-based memecoin, saw a notable price increase and a one-day trading volume jump of over 200% in November. It was reported to be the largest memecoin by trading volume during this period, surpassing Dogecoin. Wallets linked to Justin Sun are now among Pepe's largest individual holders, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, views PEPE’s recent 10.57% drop as a sign of lingering risk despite bullish technical signals. He notes that surge in trading volumes and outsized wallet holdings by major players like Justin Sun have not prevented broader selling pressure. Kharitonov highlights overbought indications from the CCI and high session volatility, flagging potential for further correction in the short term. He cautions that bullish momentum may fade quickly if short-term support at $0.00000463 fails. "Sustained rallies are unlikely unless PEPE can consolidate above strong resistance and shake off instability from speculative flows."

Viktoras Karapetjanc, expert at Traders Union, sees underlying strength in PEPE’s technical structure and rising trading activity. He believes new large holders and upticks in volume reinforce the market’s bullish foundation. The analyst expects further growth if price can break above immediate resistance, with overall prospects remaining positive despite recent volatility. "The bullish structure remains intact — further upside is likely as market participation deepens and consolidation sets the stage for the next breakout."

Sholanke Dele, market strategist, remains wary of PEPE’s near-term outlook given heightened volatility and correction risk. He points to evidence of speculative excess, with price action vulnerable below key levels and sentiment mixed despite large trades. Dele suggests macro uncertainty could add further headwinds in the days ahead. "Caution is warranted — a breakout is possible, but instability may persist until market conviction strengthens."

Bullish trend holds as momentum and resistance levels diverge

PEPE is currently trading below its 20-day moving average at $0.000004785, but still sits above its 50-day ($0.000004464) and 200-day ($0.000003539) averages, suggesting a bullish medium- to long-term technical structure. Immediate resistance is seen at the Ichimoku Kijun near $0.000004725, with short-term support at $0.00000463. Momentum indicators remain mostly bullish with the MACD and Average Directional Index (ADX) showing upward strength. The Relative Strength Index (RSI) and Stochastic RSI are both in neutral territory, while the Commodity Channel Index (CCI) is overbought, flagging potential risk of overheating. Bull/Bear Power (BBP) is positive, and the Awesome Oscillator continues to support the bullish tone. High volatility of 14.58% on the session hints at intraday weakness and possible correction risk, even as medium-term signals remain constructive.

Earlier, analysts noted that Pepe had entered a period of heightened downside risk amid strong selling momentum and forced liquidations across trading platforms. The current technical structure, with price holding above medium- and long-term moving averages despite recent volatility, adds a constructive dimension to the outlook and makes the $0.000004725 resistance level a pivotal threshold for potential breakout opportunities in the coming sessions.

Source of Data: PEPE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.