Pepe Retests Weekly Trendline After Amended ETF Filing

Pepe (PEPE) fell 5.52% over 24 hours to approximately $0.00000405 at 7:09 a.m. ET (11:09 UTC) Wednesday, returning to a weekly trendline that previously marked a breakout.

The move followed Canary Capital’s Oct. 2 filing of Amendment No. 1 to Form S-1 for a proposed spot PEPE exchange-traded fund. The filing describes a proposed trust that would hold PEPE directly, calculate net asset value using the CoinDesk PEPE Benchmark Rate 60m NY Rate and use BitGo Bank & Trust as custodian.

The filing proposes listing the shares on Cboe BZX Exchange. The securities cannot be sold until the registration statement becomes effective, and the filing does not establish an approval decision or launch date.

The preliminary prospectus also states that its information is incomplete and may change. It says the securities cannot be sold until the registration statement filed with the Securities and Exchange Commission becomes effective.

In the selected Oct. 7 market snapshot, PEPE had a market capitalization of $1.802 billion and 24-hour volume of $189.39 million. The token closed at $0.00000428 on Oct. 6, when its market capitalization was $1.845 billion. The historical records use UTC dates.

PEPE’s all-time high is $0.00002803, leaving the token more than 80% below that level.

Near-term support is estimated at $0.00000400 to $0.00000438, with resistance at $0.00000578. These are estimates, not official market benchmarks.

Momentum indicators were not included as a basis for a market conclusion. PEPE’s Stochastic %K reading was 11.11, its %D reading was 8.89 and its relative strength index reading was 49.66. The bullish scenario was assigned a 35% estimate and the bearish scenario a 65% estimate; these figures are not objective probabilities or investment recommendations.

The proposed ETF remains at the filing stage. Any approval, effective registration, Cboe listing or trading launch would require a separate development.