BroadChain, April 23, 23:00, according to CryptoNews, PEPE is currently quoted at approximately $0.0000037, down 4.91% in 24 hours, while Bitcoin has fallen back below $78,000 during the same period. Trading volume is 72% higher than the average, and whales have accumulated a total of 800 billion PEPE tokens over the past week. On-chain data shows that address 0x2Dc8, after an 8-month hiatus, has again withdrawn 800 billion PEPE (approximately $3.08 million) from Coinbase Prime. Eight months ago, this address had withdrawn 600 billion PEPE (worth $7.32 million at the time), currently resulting in an unrealized loss of $5.04 million.
On a macro level, Trump announced an extension of the ceasefire agreement with Iran, easing geopolitical pressures. Bitcoin spot ETFs have seen net inflows exceeding $1.9 billion recently, with BlackRock's IBIT leading the way. However, PEPE's technical indicators suggest that it still needs to digest current price pressures before a true breakout. Its all-time high was $0.00002803 in December 2024, and it is currently about 54% below that peak. Daily trading volume remains stable in the range of $367 million to $437 million, indicating that demand has not disappeared due to the pullback.
The key resistance level of $0.00000410 will determine the direction: if the closing price firmly holds above this level, resistance will turn into support, opening the path toward $0.0000052 and higher; conversely, it will continue to oscillate. If the support level of $0.00000361 is broken on high volume, the structure will weaken, and the price could test the $0.0000030 area. PEPE has a market cap of $1.62 billion, and achieving a 10x increase would require sustained institutional capital inflows, which have not yet materialized on a large scale.