A crypto analyst has called for the following PEPEThird largest meme coin by market capitalization. According to the analyst, Pepe hit his lowest price point for this cycle after experiencing a Scary market crash That wiped out most of its 2025 gains. Based on Elliott Wave Theory, Pepe’s price action indicates that it is entering Wave 3, which the analyst expects will be a bullish reversal with a 594% promise.
Pepe hit the bottom of the market after the price crash
A crypto analyst known as ‘Slick’ on January 13 announced That Pepe’s market was officially down indicates a potential reversal from a downtrend. The analyst shared a detailed chart on X (formerly Twitter), analyzing Pepe’s price movement focusing on wave patterns and Exponential Moving Average (EMA).
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The chart divides Pepe’s price action into three waves: 1, 2, and 3. Wave 1 represents the initial rise in the price of Pepe, during which two local peaks were achieved. The next phase, wave 2, has two local peaks and a corrective period That retraces below the 200-day EMA.
based on Pepe’s price movementSlick expects the meme coin to enter wave 3 soon. He predicts that the wave could make a significant move to the upside. Further, the analyst points to the 200-day EMA as an important support level, where every time Pepe’s price corrects this supportThis has been labeled as the “fear phase”, reflecting widespread market uncertainty.
The two peaks shown in Waves 1 and 2 are the peaks that mark the interim resistance points before the price correction. Peak 1 signals the end of a brief price rally, while peak 2 indicates a rise to a secondary resistance level.
Interestingly, the analyst Accepted that his estimate of Pepe’s bottom comes with 70% certainty. This prediction is also consistent with Pepe’s recent one Huge price crash to new lows. According to data from CoinMarketCap, Pepe experienced a frightening decline that wiped out more than 26.45% of its value in the last month.
Cryptocurrency is still a Significantly downward trendAnother 16.20% decline in the last seven days. Pepe is currently experiencing the same volatility and bearish conditions as most meme coins in the market. Top dogs like Dogecoin and Shiba Inu have dropped 12.5% and 11.2% respectively this past week.
Analysts predict 594% Pepe price rally
Commenting on Pepe’s poor performance And in the potential down market, Sleek also offers a silver lining, It is predicted that there may be a rebound soon. The analyst has set a price and market cap target for Pepe, confidently projecting that the frog-themed meme coin could grow to $50 billion. Market capitalizationAfter a significant increase in value.
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The dotted lines in the price chart show the future price action leading to wave 3. Unlike Waves 1 and 2, which recorded two peaks, Wave 3 experienced only one local peak, followed by a decline to the 200-day EMA.
Slick believes that Pepe may experience similar price movements to previous waves, where it will reach two local peaks before a significant price correction. The analyst estimates that the top 2 in Pepe’s Wave 3 will push its price up to 594%. New bullish target Current market price of $0.000118 from $0.000017.
Featured image created with Dall.E, chart from Tradingview.com
