PEPE Price Surges 35% Despite Crypto Market Slump: Here’s Why

Looking at the chart above, the number of PEPE long-term investors surpassed the short-term trader wallets around May 5. This formed a major bullish catalyst as prices raced to new all-time highs 22 days later on May 27.

More recent trends show that there were 58,240 long-term investor addresses holding PEPE at the close of May 31.

But curiously, since June 1, the number of PEPE long-term investor addresses  has increased by 4,320, while 15,350 short-term holder addresses exited their positions amid the month-long market dip.

Despite holding historic profits following the new global price peaks recorded in May, the majority of PEPE long-term investors have opted to hold firm rather than join the selling frenzy that has gripped crypto markets in June.

Firstly, the PEPE long-term investors’ resilience indicates strong confidence in the asset’s potential, which created a relatively more stable price floor compared to other assets during volatile market conditions.

Secondly, the exit of short-term holders, who are typically more reactive to swings in market sentiment, may have reduced selling pressure on PEPE, setting the stage for the accelerated 35.8% price recovery observed between June 24 and June 26.

PEPE Price Forecast: PEPE Could Breakout Above $0.000015 

Drawing insights from the on-chain trends analyzed above, PEPE’s 35.8% price uptick appears to be driven by long-term investors’ month-long show of resilience. However, technical indicators suggest further upswings toward $0.000015 could be on the cards in the days ahead.

Looking at IntoTheBlock’s GIOM data below, PEPE price now faces relatively smaller resistance clusters until it reaches the $0.000015 mark.