Pepe Elliott Wave Analysis: What Starts in 5's, Ends in 5's

I’m not going to explain the entire history of Pepe like I did with my Shiba Ina post, but I will say that it’s exhibiting the same exact “what starts in 5’s, ends in 5’s” pattern.

PRICE PREDICTION

In the short term, I anticipate that price action will continue upward, albeit in a corrective manner. This movement is expected to be followed by another capitulation. Applying a fib retracement from the beginning to the end of wave (1), my target for the Y of the (Y) correction, as well as the completion of the higher degree wave (2), aligns with the 0.5 retracement level. Should price extend beyond this level, the yellow 1.618 serves as the definitive threshold—price should not decline past this point.

TIME PREDICTION

By applying a trend based fib time measurement from the start to the completion of the higher degree (W) wave, and then extending it to the higher degree (X) wave, the 1 in time projection for the higher degree (Y) wave is set on February 23rd, 2025.

Similarly, applying a trend based fib time measurement from the start to the completion of the lower degree wave W of the (Y) wave, and then extending it to the lower degree wave X of the (Y) wave, the 1 in time projection for the lower degree wave Y of the (Y) wave is set for February 24th, 2025.

The extremely close overlap of these 2 projections—separated by only 1 day—leads me to focus on the 1 in time for both the lower degree and higher degree Y waves. I anticipate price to terminate around these 2 dates but please take time analysis with a grain of salt.

FINAL THOUGHTS

If price action unfolds as anticipated, it will result in a higher high for the (X) wave and a higher low for the (Y) wave, forming a structurally bullish pattern.