Record inflows from institutional investors and Bitcoin's recent all-time high (ATH) have significantly boosted overall market sentiment. While meme coins such as PEPE have relatively underperformed Bitcoin, potential short-term rebounds are indicated for Q4. Developments in the Ethereum ecosystem and anticipation surrounding stablecoins could potentially enhance overall market liquidity. The overall market bias remains neutral.

・Record $5.95 Billion Inflow into Crypto Funds Fears of a U.S. government shutdown fueled a rally in the spot crypto market, driving inflows into crypto investment products to a record high last week. This indicates growing institutional investor confidence in the digital asset market. Inflows into major assets like Bitcoin and Ethereum, specifically, are contributing factors to their price appreciation. While the direct impact on meme coins like PEPE may be limited, an improvement in overall market sentiment could boost appetite for risk assets broadly, potentially providing an indirect lift to PEPE's price. ・Michael Saylor's MicroStrategy Records $3.9 Billion Unrealized Gain on Bitcoin Holdings in Q3 Michael Saylor announced that MicroStrategy recorded an unrealized gain of $3.9 billion on its Bitcoin holdings during the third quarter. While the company is known for consistently accumulating Bitcoin even at successive record highs, it signaled an intent to temporarily pause its purchases this time. This potentially signals a view that Bitcoin prices are reaching overheated territory after setting new all-time highs. As PEPE is a meme coin driven largely by speculation rather than serving as a foundational asset like Bitcoin, market exuberance and the behavior of major investors could influence PEPE's price volatility. ・Bitcoin Expected to Outperform Top Meme Coins by 2025; Potential for Q4 Rebound for DOGE, TRUMP? The institutional investor-led rally in Bitcoin is pushing meme coins, which are primarily retail-driven, to the sidelines. Top meme coins including DOGE, PEPE, and TRUMP show potential for short-term rebounds heading into the fourth quarter. As Bitcoin surpasses previous all-time highs, meme coins like PEPE have experienced relatively weaker performance. However, the analysis points to potential short-term bounces for these meme coins in Q4, suggesting that PEPE could experience temporary price increases driven by shifts in market sentiment or speculative trading activity. ・Grayscale Introduces Staking for Ethereum and Solana in U.S. ETPs, Marking an Industry First Digital asset manager Grayscale has launched staking services within its U.S. crypto exchange-traded products (ETPs), the first offering of its kind in the United States. This enables holders of its Ethereum (ETH) and Solana (SOL) ETPs to earn passive income via staking. This signifies an evolution in digital asset products for institutional investors, moving towards offering yield-generating services. Increased adoption of Ethereum staking could foster growth within the broader Ethereum ecosystem, potentially boosting demand for ETH. As PEPE is built on the Ethereum blockchain, a vibrant Ethereum ecosystem could indirectly benefit PEPE. ・Standard Chartered Predicts Over $1 Trillion Potential Outflow to Stablecoins from Emerging Market Banks by 2028 Multinational banking group Standard Chartered forecasts a potential outflow exceeding $1 trillion from emerging market banks into stablecoins by 2028. This signals accelerating demand for U.S. dollar-pegged digital assets. The increasing adoption of stablecoins in emerging markets is anticipated to enhance the efficiency of cross-border payments and serve as a potential hedge against inflation. Such trends could boost overall liquidity within the digital asset market, potentially encouraging capital inflows into a wider range of asset classes. As PEPE is part of the broader digital asset ecosystem, enhanced market liquidity could facilitate investment in riskier assets like it. ・New Japanese Prime Minister May Prove a Tailwind for Risk Assets and the Crypto Market The ascent of Sanae Takaichi as Japan's new Prime Minister could bring renewed political momentum to risk assets, including digital currencies. Her election victory coincided with the Nikkei 225, Japan's benchmark index, reaching record highs. Takaichi's platform may favor policies that encourage economic growth and investment in risk assets, potentially benefiting Japan's digital asset market. While PEPE is a global meme coin, broader shifts towards regulatory easing in major economies or macroeconomic environments encouraging risk asset investment could improve overall investor sentiment, potentially sparking greater interest in speculative assets like PEPE. ・Bitcoin Surpasses $125,000 All-Time High; Traders Anticipate Consolidation Bitcoin reached a new all-time high, surpassing $125,000 over the weekend. Traders are anticipating a period of consolidation, marked by sideways price action, before potentially resuming its upward trend. Bitcoin's new all-time high significantly bolsters overall sentiment in the digital asset market. Meme coins like PEPE tend to closely follow the movements of major assets such as Bitcoin; therefore, Bitcoin's sustained strength serves as a positive signal for PEPE's price. However, during consolidation periods, some traders may seek short-term profits, potentially leading to temporary volatility for PEPE. ・Standard Chartered Recommends "Conservative" Crypto Allocation in Select Portfolios Global financial services firm Standard Chartered has issued guidelines advising investment advisors to adopt a "conservative" approach to digital asset allocation within multi-asset portfolios. The bank's analysts suggest allocating up to 4% to digital assets in "Opportunistic Growth" portfolios (high-risk, high-return) and up to 2% in "Balanced Growth" portfolios. This indicates a growing consideration among major financial institutions to strategically incorporate digital assets into portfolios. While direct recommendations for specific meme coins like PEPE are absent, the heightened institutional interest in the digital asset space contributes to overall market maturation, potentially increasing indirect liquidity for assets like PEPE. [Overall Summary] Last week's digital asset market was primarily driven by record inflows from institutional investors, spurred by concerns over a U.S. government shutdown, while Bitcoin achieved a new all-time high. Anticipated inflows into stablecoins and indications of regulatory easing in certain jurisdictions point towards the market's long-term growth potential. Although direct impacts on PEPE may be limited, improvements in overall market sentiment and the revitalization of the Ethereum ecosystem present potential indirect positive catalysts. Nonetheless, vigilance is required regarding the inherent volatility of meme coins and the potential for overall market overheating.

PEPE exhibits the high volatility and speculative nature inherent to meme coins, rendering its price highly susceptible to market sentiment shifts. While Bitcoin charts new all-time highs, meme coins run the risk of underperforming. Factors such as overall market froth or brief consolidation periods could exert downward pressure. Identifying critical support levels requires real-time data; however, constant vigilance against abrupt changes in market sentiment is essential.

**Outlook** In the short term (24-48 hours), modest upside or consolidation is anticipated, supported by a bullish MACD signal. Over the medium term (1 week), the potential for a Q4 meme coin rally scenario may progress, provided overall market sentiment holds. Key catalysts to monitor include further upside for Bitcoin, broader market liquidity trends, and activity within the meme coin communities.

Overall, the PEPE market is supported by strong external tailwinds, namely Bitcoin's new all-time highs (ATH) and record institutional inflows. While technical indicators show potential for upside, with the Relative Strength Index (RSI) neutral and the Moving Average Convergence Divergence (MACD) suggesting a bullish crossover, a cautious approach is essential due to the inherent volatility and speculative nature characteristic of meme coins. **【Rating】** Neutral (with a bearish bias, conditional upon sustained Bitcoin strength and positive market sentiment). **【Action Plan】** Seek entries on dips after confirming Bitcoin's stable upward momentum, or upon approaches to key support levels. Set short-term profit-taking targets around immediate resistance levels. Implement stop-losses promptly upon a breach of major support lines to limit downside risk. **【This Week's Focus】** Closely monitor Bitcoin's price action and any signs of capital rotation into the broader meme coin sector. A persistently positive market sentiment could facilitate a short-term rebound for PEPE. **【Risk Management】** Proper position sizing and strict adherence to disciplined stop-loss rules are crucial for capital preservation in this highly volatile market. The recommended strategy currently involves capitalizing on the overall market strength while minimizing exposure.