PEPE Price Forecast: 15% Gain Puts Justin Sun-Linked Wallets in Focus Today!

Pepe (PEPE) climbed more than 15% during the week to October 28, trading above $0.00000494 as investor attention returned to the frog-themed cryptocurrency. Reports from blockchain analytics firm Arkham Intelligence linking wallets worth $51.25 million in PEPE to TRON founder Justin Sun added to the buying interest. Rising social engagement and positive derivatives indicators also supported the advance. However, wallet attribution does not confirm personal ownership, and technical signals cannot guarantee further gains.

Justin Sun-Linked Wallets Draw Attention

An Arkham Intelligence post on X identified wallets associated with Sun as holding approximately 2.82% of PEPE’s supply, valued at $51.25 million. The estimate includes confirmed and predicted wallet addresses, making the attribution important to distinguish from independently verified ownership.

Reports indicated that much of the accumulation occurred over roughly 10 days, with two substantial transfers from Poloniex attracting attention. On October 17, approximately 7.2 trillion PEPE tokens moved from the exchange. Another 4.65 trillion tokens reportedly followed on October 26. The combined transfers were valued at about $48.76 million at the time.

These movements have encouraged speculation that a prominent crypto investor is building exposure to PEPE. Yet transfers alone do not establish whether tokens were purchased, consolidated or moved for another purpose.

Interest also increased across crypto-related discussions. According to Santiment data cited in market reports, PEPE’s Social Dominance reached 1.209% on October 28, its highest level since mid-April. The metric measures the token’s share of cryptocurrency-related discussion, offering a gauge of attention rather than a direct measure of buying demand.

Derivatives Data Supports Bullish Sentiment

Data from CoinGlass showed PEPE’s funding rate turning positive on Tuesday and reaching 0.013% on Wednesday. In perpetual futures markets, positive funding generally means traders holding long positions pay those holding shorts. This can indicate bullish positioning, although heavily crowded long trades can increase liquidation risk if prices reverse.

The reported long-to-short ratio stood at 1.06, suggesting a modest tilt toward bullish positions. Together, these indicators point to improving trader confidence, but they do not confirm that spot-market demand will continue.

Key signals traders are monitoring include:

• Funding rate: 0.013%, indicating positive funding.
• Long-to-short ratio: 1.06, showing a slight preference for long positions.
• Social Dominance: 1.209%, reflecting increased discussion.

PEPE Price Forecast: Key Levels Ahead

PEPE’s daily technical indicators showed strengthening momentum. The Relative Strength Index (RSI), which measures recent price momentum, stood at 64, below the commonly used overbought threshold of 70. The Moving Average Convergence Divergence (MACD) indicator retained a bullish crossover, while its rising green histogram suggested increasing upward momentum.

If buying pressure continues, resistance near $0.00000521 is the next level to watch. A sustained break above it could support further gains. Conversely, a retreat could bring the 50-day exponential moving average near $0.00000412 into focus as potential support.

Conclusion

PEPE’s advance reflects rising attention, reported large-wallet holdings and improving derivatives sentiment. Whether the rally extends will depend on sustained demand and a confirmed move above resistance. Investors should also account for concentrated token holdings, leverage and the sharp price swings common in speculative meme coins.