Pepe Price Surges 15% as Whales Accumulate: Can It Reach $1 Amid $1.4B Trading Boom?

The PEPE meme coin has begun July with a 15% price surge, fueled by over $1.4 billion in 24-hour trading volume - its highest since early June. Market dynamics suggest this rally extends beyond retail activity, with blockchain analytics from Nansen showing whales have increased their holdings by 5% in the past month, now controlling $7.95 billion worth of PEPE.

Notably, PEPE's exchange supply has dwindled to 246.82 trillion tokens, marking a 2.66% decrease since early July and signaling a shift toward long-term holding strategies. Technical analysis reveals PEPE is retesting a crucial resistance at $0.00001035, which could confirm the breakout of a 6-month cup-and-handle pattern.

Momentum indicators support the bullish case: The RSI shows sustained upward movement for the first time since the downtrend began, while the MACD hints at a potential golden cross formation. A decisive break above $0.00001035 could propel PEPE toward $0.00002160 (a 117% gain) based on Fibonacci extensions. However, reaching the aspirational $1 target would require significant adoption growth and deflationary measures, given PEPE's current $4.28 billion market cap.

As the market shifts focus toward security and self-custody post-FTX, projects like Best Wallet are emerging with innovative solutions. The wallet's 'Upcoming Tokens' feature helps users identify early-stage opportunities, while its Best Card integrates crypto payments via Mastercard's network. The project has already secured $13.6 million in funding for its $BEST utility token.