The meme coin traded around $0.00000453 on Oct. 5, after reaching an intraday high near $0.00000457. That puts PEPE back above the $0.00000445 resistance level highlighted in a recent technical setup after several days of recovery from the Oct. 2 selloff.
Technical analyst Aditya Khatri identified a developing Wolfe Wave on PEPE's four-hour chart. The pattern formed inside a descending channel and projects toward approximately $0.000005 if buyers can sustain the breakout.
The latest move also follows September's much larger PEPE rally, when the token climbed roughly 42% in a week and briefly reached $0.00000515.
$0.00000445 Was the First Breakout Test
The Wolfe Wave thesis depends on PEPE staying outside the descending channel rather than simply touching resistance.
Khatri's setup identified $0.00000445 as the first breakout level, followed by $0.00000461 and $0.00000477. The Wolfe Wave projection then extends toward $0.000005.
PEPE's move above $0.0000045 therefore puts the first part of that setup into play, although a sustained close and stronger volume would provide better confirmation.
The broader meme-coin backdrop has also improved. Dogecoin recently experienced a leveraged short squeeze, while SHIB has recovered materially from its September lows.
What Could Invalidate the Wolfe Wave?
The bullish structure becomes weaker if PEPE drops back below the breakout zone.
The first support identified in the Wolfe Wave analysis sits near $0.00000415. Below that, $0.00000402 and $0.00000387 become the next downside levels.
That risk matters because PEPE remains highly sensitive to the wider crypto market. Bitcoin's ability to sustain its latest recovery could therefore influence whether speculative demand continues flowing into meme coins.
