Pepe (PEPE) traded around $0.00000453 on Oct. 5 after an intraday high near $0.00000457, pushing back above the $0.00000445 resistance level identified in a recent technical setup. The move marks a 5% rally as the meme coin extended its recovery from the Oct. 2 selloff.
Technical analyst Aditya Khatri pointed to a developing Wolfe Wave pattern on PEPE's four-hour chart, formed within a descending channel. The setup projects toward approximately $0.000005 if buyers sustain the breakout. Khatri's analysis identifies $0.00000445 as the first breakout level, followed by $0.00000461 and $0.00000477, before the broader Wolfe Wave target near $0.000005.
The bullish structure would weaken if PEPE falls back below the breakout zone. First support sits near $0.00000415, with further downside levels at $0.00000402 and $0.00000387. The token remains highly sensitive to the wider crypto market, with Bitcoin's recovery likely to influence speculative demand for meme coins. Broader meme-coin sentiment has improved, supported by a recent Dogecoin leveraged short squeeze and SHIB's recovery from September lows.
September's larger move remains notable: PEPE climbed roughly 42% in a week and briefly reached $0.00000515.
