This article is available in Spanish.
A crypto analyst has consulted the bottom Pepe (PEPE)the third largest meme coin by market capitalization. According to the analyst, Pepe hit the lowest price point for this cycle after hitting a terrifying market crash wiping out most of the gains in 2025. Based on Elliott Wave theory, Pepe’s price action shows that he is in Wave 3, which the analyst expects to be a bullish turnaround with a promise of 594%.
Pepe hits market bottom after price crash
On January 13, a crypto analyst known as ‘Slick’ announced that Pepe’s market bottom had officially been reached, signaling a potential downtrend turning point. The analyst shared a detailed chart on X (formerly Twitter), analyzing Pepe’s price movement while focusing on wave patterns and Exponential Moving Averages (EMA).
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The chart divides Pepe’s price action into three waves: 1, 2, and 3. Wave 1 marks an initial rise in Pepe’s price, during which two local tops were reached. The next phase, Wave 2, highlights two local peaks and a corrective period that returns below the 200-day EMA.
Based on Pepe’s price movementsSlick expects the meme coin to enter Wave 3 soon. He expects that this wave could cause significant upward movement. Moreover, the analyst always points to the 200-day EMA at a critical support level Pepe’s price corrects this supportit is being labeled as a ‘fear phase’, underscoring the wider market uncertainty.
The two peaks indicated in Waves 1 and 2 are peaks that mark intermediate resistance points before a price correction. The Top 1 marks the end of a short price rally, while the Top 2 shows a rise to a secondary resistance level.
Interestingly enough, the analyst did recognized that his projection comes from Pepe’s buttocks with 70% certainty. This prediction also matches Pepe’s massive price crash to new lows. According to data from CoinMarketCap, Pepe has experienced a terrifying decline over the past month, eliminating more than 26.45% of its value.
The cryptocurrency is still number one significantly bearish trendand fell another 16.20% over the past seven days. Pepe is currently experiencing similar volatility and bearish conditions as most meme coins on the market. Top dogs like Dogecoin and Shiba Inu have fallen 12.5% ​​and 11.2% respectively in the past week.
Analysts Predict a 594% Pepe Price Rally
While commenting on Pepe’s bearish performance and potential market bottom, Slick also presented a silver lining, predicting that a recovery could happen soon. The analyst has set a price and market cap target for Pepe, confidently projecting that the frog-themed meme coin could rise to a value of 50 billion. market capitalizationfollowed by a significant increase in value.
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The dotted lines in the price chart indicate the speculative future price action that will lead to Wave 3. Unlike Waves 1 and 2, which recorded two tops, Wave 3 has seen only one local top, followed by a decline to the 200-day EMA.
Slick believes that Pepe could experience similar price movements to previous waves, reaching two local tops before a significant price correction. The analyst has predicted that the top 2 in Pepe’s Wave 3 would push the price up to 594% to a new bullish target of $0.000118 compared to the current market price of $0.000017.
Featured image created with Dall.E, chart from Tradingview.com
