PEPE Holds Above 8,800 Support as Price Rises 1.78% in 24 Hours, Eyes 40x Surge

PEPE has demonstrated resilience by holding above the 8,800 support level, a critical psychological threshold for the memecoin. This retest reinforces the bullish structure identified by analysts, who highlight the level’s historical significance as a recurring demand zone since late 2023. Despite a minor 1.17% decline, the token’s price remains above $0.000008741, validating its strength at this level. Crypto analyst Tony emphasized the importance of this zone in a recent post, noting its role as a reliable support since last year’s breakout [1].

The technical narrative has gained traction among market participants. Trading volume and renewed social media activity suggest growing optimism about PEPE’s short-term prospects. James Wynn, a trader known for a $7,600-to-$25 million return via an early PEPE investment, has drawn parallels between the current setup and the coin’s 2024 surge. In a widely shared post, Wynn cited historical precedent: PEPE’s market cap grew to $1.6 billion in 22 days amid bearish conditions. He forecasts a 40x rally, arguing that similar technical and sentiment-driven conditions are emerging [2].

Market dynamics appear to align with these bullish assertions. At $0.00001264, PEPE has risen 1.78% in the last 24 hours, trading above the 8,800 level while maintaining a strong hold on key horizontal support. Analysts caution that while the 40x projection is speculative, the coin’s ability to retest and consolidate above this level signals robust investor confidence. The price action suggests a potential consolidation phase before a new upward move, with the 8,800 zone acting as a critical psychological anchor.

The broader market context remains volatile, yet PEPE’s performance has insulated it from broader downturns. Analysts attribute this to the memecoin’s growing adoption and speculative momentum, fueled by social media chatter and trader sentiment. However, they emphasize that projections like Wynn’s 40x target should be treated as optimistic scenarios rather than guarantees. The coin’s trajectory will depend on liquidity conditions, broader crypto trends, and on-chain activity in the coming weeks.

Sources:

[1] [PEPE Retests Critical Support Zone, Signals Bullish Strength](https://coinmarketcap.com/community/articles/6882acdcfbeffb44472906f8/)

[2] [James Wynn Foresees 40x Rally as Momentum Builds](https://coinmarketcap.com/community/articles/6882acdcfbeffb44472906f8/)

[3] [PEPE Holds Strong at 8,800 Support as Analysts Eye 40x Surge](https://coinmarketcap.com/community/articles/6882acdcfbeffb44472906f8/)