PEPE Climbs 5% Toward $0.000005 Wolfe Wave Target

On October 5, the meme coin PEPE saw a 5% rally, reaching an intraday high near $0.00000457. This move pushed the token above the $0.00000445 resistance level, marking a recovery from the selloff on October 2. Technical analyst Aditya Khatri identified a developing Wolfe Wave pattern on PEPE's four-hour chart, which projects a target of approximately $0.000005 if buyers maintain the breakout.

The Wolfe Wave thesis hinges on PEPE staying above the descending channel rather than just touching resistance. Khatri's analysis highlighted $0.00000445 as the first breakout level, followed by $0.00000461 and $0.00000477. The pattern extends toward $0.000005, but sustained volume and a stronger close would provide better confirmation.

The broader meme-coin market has also shown improvement, with Dogecoin experiencing a short squeeze and SHIB recovering from its September lows. However, the bullish structure could weaken if PEPE drops back below the breakout zone. The first support identified in the analysis sits near $0.00000415, with further downside levels at $0.00000402 and $0.00000387.

PEPE remains highly sensitive to the wider crypto market, and Bitcoin's ability to sustain its latest recovery could influence speculative demand for meme coins.