PEPE holders, the community backing the widely followed Ethereum-based memecoin, have seen an extension in their bearish trajectory with an additional 6% decline today. The frog-themed cryptocurrency is now experiencing losses across all timeframes.
Over the past week, it has dropped 10.38%, amplifying its monthly decline to 35% and year-to-date losses to 25.7%.
This means no PEPE investor who purchased in 2025 is currently profitable.
Despite this downturn, PEPE maintains its position as the third-largest memecoin by market capitalization at over $3.9 billion, trailing only Shiba Inu ($6.7 billion) and Dogecoin ($24.1 billion).
Nevertheless, PEPE holders, commonly referred to as the “PEPE Army,” appear unwavering in their commitment to the memecoin.
IntoTheBlock data reveals that 37% of PEPE holders have not liquidated a single token over the past year, while 57% of wallets contain between 1 and 12 million PEPE tokens, which are sitting dormant in storage.
Additionally, PEPE whales control 75% of the token supply, with 46% of all holders remaining profitable despite current market conditions.
Crypto investor JamesonXBT recently disclosed that he has maintained his $PEPE position for over two years, expressing confidence that his patience will be rewarded substantially.
Another trader identified a bullish chart pattern suggesting a potential 25% gain in a single candlestick, similar to previous occurrences with comparable formations.
Tesla CEO and billionaire Elon Musk, rumored to hold PEPE, shared a PEPE-themed meme that has accumulated over 60 million views.
This development has boosted confidence among the PEPE Army, who reference a similar Musk profile picture change in December that preceded PEPE’s massive rally to a market cap of over $10 billion.
Contributing to the momentum, The New York Post published a purchasing guide for PEPE, while highlighting its potential as a long-term investment opportunity.
A Bitcoin investor and OKX exchange key opinion leader also observed that PEPE is displaying chart patterns similar to those from two years ago, setting a bold target of an 800% move from current price levels.
Trading volume also appears to be recovering for PEPE, with CoinGlass data showing over $2.4 billion worth of transactions in the last 24 hours, representing a 5.4% increase during that period.
The funding rate in derivatives markets has remained positive for three consecutive days, suggesting traders may be positioning for long positions on PEPE in the near term.
The PEPE/USDT daily chart shows the token currently trading around $0.00000929, down 5.8% for the day.
Price action is consolidating just above a crucial accumulation zone between $0.00000830 and $0.00000872, which has been identified as a support level during previous consolidation periods.
This range has historically generated bullish reversals, as demonstrated in mid-March and early May. The RSI reads 30.85, nearing oversold territory, which suggests that bearish momentum may be diminishing and a potential bounce could be developing.
This outlook is backed by the visible bullish projection trajectory that curves upward from current levels, targeting a potential retest of the $0.00002000 region if support is maintained.
Despite earlier bearish signals from the RSI indicator, if buyers regain control from this demand zone, PEPE could initiate a recovery toward mid-range resistance near $0.00002000, with additional upside potential toward the $0.00002836 high.
However, a breakdown below $0.00000830 would negate this scenario and expose lower support around $0.00000525.
