PEPE Enters Wave 5 of Elliott Pattern, Analysts Set Price Targets Toward $0.000028 and Beyond

PEPE enters Elliott Wave 5 with bullish momentum, targeting $0.000028 and higher into 2026.

Whale accumulation and $9.8M in outflows support strong investor confidence and reduced selling pressure.

Open interest rises to $676M as leveraged long positions increase, signaling bullish trader sentiment.

PEPE has shown strong upward movement in recent days, driven by technical structure, whale accumulation, and rising investor activity. The memecoin is now completing a five-wave Elliott structure, with wave 4 nearing its end. Analysts expect the fifth wave to start, continuing into 2026 with new price targets.

Wave 5 Structure and Technical Momentum

According to analysis prepared by Steph Is Crypto, PEPE has followed a five-wave Elliott pattern since early 2025. The asset is now entering wave 5. The previous waves demonstrated higher highs and higher lows, showing consistent upward strength. After completing wave 4, analysts say the asset may begin a new rally.

PEPE broke above the 200-day Exponential Moving Average and a prolonged descending trendline. It also exited a consolidation zone. These moves were followed by three consecutive bullish green candles. As of July 12, 2025, PEPE traded at $0.000001273, gaining 15% in 24 hours

Source: CryptoCatalyst(X)

Trading volume rose 70%, reflecting continued interest and upward pressure. If this pattern continues, PEPE may rise another 22%, targeting the $0.000016 level. The Falling Wedge Breakout structure observed by Crypto Catalyst supports a move toward $0.000028 and above.

Whale Activity and Market Sentiment

According to blockchain analyst Lookonchain, a whale wallet (0x06b3) spent $2.68 million to buy 227.8 billion PEPE. This trade occurred just before Bitcoin hit its all-time high, suggesting strategic accumulation. Whale buying continues to support upward movement and strong market confidence.

Source: CoinGlass

Data from CoinGlass shows over $9.80 million in PEPE outflows from exchanges in the past 48 hours. These outflows reflect accumulation trends. Traders have also built leveraged long positions at $0.00001246 and $0.00001296, worth $2.61 million and $1.65 million respectively.

Open interest increased 2.44% to $676.32 million, while 24-hour derivatives volume stood at $3.72 billion. Long/short ratios show bullish positioning, especially on OKX and Binance. According to Crypto Catalyst, “The bullish wave has started,” with market structure showing support for higher price targets.

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