The meme coin market was not spared from the general downturn that swept the crypto sector over the past week. PEPE’s price slump was among the most concerning events in the market during the period, as the meme token’s value dropped by double digits.
The price of PEPE appears to have finally found support around the $0.000017 region, while briefly touching $0.000018 on Saturday, January 11. Interestingly, a popular crypto analyst on the social media platform X has sounded a buy alarm for the meme coin.
Is A Return To $0.0000191 Feasible For Pepe?
In a new post on X, prominent crypto trader Ali Martinez shared an exciting prognosis for the price of Pepe after some quiet days for the cryptocurrency. According to the pundit, the PEPE price might be preparing for a rebound back to its former highs.
This prediction is based on the Tom Demark “TD” Sequential buy signal for the third-largest meme coin on its 12-hour price chart. The Tom Demark Sequential is an indicator used in technical analysis to identify the exact time of trend exhaustion and price reversal for any specific cryptocurrency.
Typically, this technical analysis indicator comprises two phases: the TD Setup (or the momentum phase) and the TD Countdown (or the trend exhaustion phase). The TD Setup phase occurs after a price reversal and comprises a 9-candle count (of the same polarity). The TD Countdown phase, on the other hand, is valid only after the Setup phase has been established and consists of 13 candles.
According to Martinez, the TD Sequential indicator flashed a sell signal (specifically after the completion of the Setup phase) for the price of Pepe on January 4, 2025. This was followed by a 24% correction, as the meme token’s value declined to around 0.0000167 by January 9.
Similarly, Martinez revealed that the TD Sequential has flashed another signal, but a bullish one this time around. According to the crypto analyst, if this alarm holds, PEPE could see its price rebound to between $0.0000185 and $0.0000191. This represents an almost 10% surge from the current price point.
PEPE Price At A Glance
As of this writing, the price of Pepe stands at around $0.000019, reflecting an almost 2% jump in the past 24 hours. According to data from CoinGecko, the third-largest meme coin is down by roughly 15% in the past seven days.
