Pepe (PEPE), the frog-themed meme coin that once commanded a market cap above $10 billion, is now trading near $0.000003304 after a 55% yearly decline.
But a closely watched technical indicator has just flashed a buy signal that analyst Ali Martinez says could trigger a rally of roughly 50%.
Martinez's TD Sequential Signal
The TD Sequential indicator on PEPE's chart has produced a buy signal, according to Martinez. He noted the pattern could drive prices toward $0.000005 from current levels.
That would mark an approximate 50% gain. The same indicator proved reliable in late September last year, when it generated two buy signals ahead of a double-digit price surge.
That rally, however, faded quickly. A sharp correction followed within days.
PEPE's market cap has fallen from its late-2024 peak to roughly $1.4 billion, per CoinGecko data. The token last traded near its all-time high of $0.00002803 toward the end of 2024.
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Analysts See Potential Bottom
Other market watchers have weighed in with cautiously optimistic readings. X user The Penguin called PEPE's chart "probably one of the most picture-perfect" from an Elliott Wave perspective, arguing the formation signals a macro bottom ahead of a major move higher.
Crypto Candy, another X user, expects "some move" in the short term. Exchange netflow data supports the case for reduced selling pressure — outflows have exceeded inflows in recent weeks, suggesting holders are shifting tokens to self-custody.
Still, not everyone is bullish. X user Surya described PEPE's recent price action as "weak" and warned that a rejection near $0.00000345 could lead to a 7% drop.
PEPE's Meme Coin Origins
The token launched in April 2023 as an homage to the Pepe the Frog internet meme, created by artist Matt Furie in 2005 for his comic "Boy's Club." PEPE reached its all-time high in December 2024, briefly entering the top 20 cryptocurrencies by market cap. The broader meme coin sector has since cooled considerably, and tokens like PEPE face an uncertain path forward amid persistent bearish conditions across crypto markets.
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