PEPE coin price could be on track to hit a new all-time high

PEPE coin price made history this week and will likely be correct again as June approaches.

Investors are not only optimistic about this, but are also pushing the same coin towards this outcome.

PEPE coin whales accumulate

could benefit Prices of PEPE parts Optimism displayed by its wearers. Large portfolio holders accumulate aggressively after a long period of selling. The supply held by the highest non-tradable addresses increased by 2 trillion PEPE.

This offering worth over $25 million was collected by major non-traded stocks in a week. The change in behavior is consistent with price action, showing that whales are dictating price action.

If this behavior persists, the price of PEPE could benefit.

Read more: Everything you need to know about PEPE currency. Have you missed the get-rich-quick train?

Second, investors are motivated to remain optimistic as nearly 30 trillion PEPE are on the verge of becoming profitable. According to the Global In/Out of Money Index (GIOM), 30 trillion PEPE were purchased between $0.00001300 and $0.00001800.

Given that the meme coin's all-time high is $0.00001725, PEPE will need to generate a new ATH to turn the entire $377 million supply into profit. This will require a significant increase from investors.

Their optimism will keep prices rising.

PEPE price forecast: be careful at this level

PEPE price at $0.00001525 rebounded from support at $0.00001369 after a multi-day pullback chart. This was just after the meme token marked ATH and is now shifting gears into bullish mode to create a new all-time high.

This would require PEPE to break $0.00001725 and return it to the support floor.

Read more: Pepe (PEPE) Price Forecast for 2024, 2025, 2026, 2027

Failure to do so will negate the chances of the new ATH and PEPE price and hence it could fall back to $0.00001369. Losing this support would completely invalidate the bullish thesis, sending the meme coin to $0.00001200.