- PEPE rose about 13% from October 17–22, but exchanges regained 2.11 trillion tokens, reversing over 40% of October 16 withdrawals.
- PEPE retreated from $0.00000510 to $0.00000445 as RSI fell to 48.09 and MACD turned negative, signaling weaker momentum.
- Analyst Giannis Andreou sees $0.00000500 as a breakout level, with $0.00000727 possible if resistance breaks and holds on a retest.
PEPE gained about 13% between October 17 and 22, but renewed exchange inflows and weakening technical momentum now challenge the rally. Santiment Intelligence reported that exchanges recovered more than 40% of the 4.77 trillion tokens withdrawn on October 16. Meanwhile, analyst Giannis Andreou identified a symmetrical triangle, as PEPE retreated from $0.00000510 toward immediate support.
Exchange Inflows Reverse Part of PEPE’s Supply Decline
Santiment reported that PEPE’s exchange supply fell by 4.77 trillion tokens on October 16, a 6% decline and its largest daily drop since at least October 2. The same day recorded 15 transfers exceeding $1 million and approximately $20 million in net exchange outflows.
Those outflows ran about eight times the October 11–15 average. Subsequently, PEPE rose around 13% from its October 17 close to its October 22 close, while Bitcoin and Ethereum finished roughly flat.
However, exchange supply increased by 2.11 trillion PEPE between October 19 and 22. Net inflows occurred on October 20, 21 and 22, reversing more than 40% of October 16’s withdrawals.
PEPE Price Rejection Weakens Short-Term Momentum
PEPE recently climbed from around 0.00000380–0.00000400, briefly breaking above $0.00000500 before facing resistance near $0.00000510. The four-hour chart shows a pullback to $0.00000445, with the latest candle declining 2.84%.
Trading volume reached 1.46 trillion PEPE amid elevated activity during the rally and subsequent sell-off. Immediate support sits at 0.00000440–0.00000445, followed by $0.00000420 and $0.00000400. Buyers would need to reclaim 0.00000460–0.00000470 to challenge the recent peak.
The Relative Strength Index is at 48.09, below its 58.15 moving average and the neutral 50 threshold. Meanwhile, the MACD line at 0.00000009 remains below its 0.00000011 signal line, with a negative histogram of -0.00000003.
Analyst Maps Triangle Breakout Levels
Andreou said PEPE is consolidating between falling resistance and rising support. A pullback toward $0.00000410 could precede a breakout attempt.
A daily close above descending resistance would put $0.00000500 in focus. If PEPE holds that trendline during a retest, $0.00000727 becomes the next target. However, a daily breakdown below rising support followed by a failed reclaim would weaken the setup.
