- PEPE coin is showing strong signs of a potential breakout, driven by bullish technical patterns, rising trading volume, and significant whale accumulation.
- However, market uncertainty following Warren Buffett’s retirement and macroeconomic shifts could influence short-term price movements.
PEPE just like the broader cryptocurrency market is flashing several bullish indicators. Notably, after weeks of consolidation, technical charts suggest that PEPE may be on the verge of a major breakout.
This has been coupled with increased whale accumulation and strong trading volume, traders and market pundits are closely watching for a decisive move above key resistance levels.
PEPE Technical Indicators.Â
Recent price movements show $PEPE inching upward, testing the crucial support zone between $0.00000041 and $0.00000065. The Relative Strength Index (RSI) on the 4-hour chart has reached 62 and is trending toward the overbought zone (above 70), indicating strong buying momentum. However, a move into overbought territory could also signal a potential short-term correction.
Key resistance lies at $0.00000095 and stretches up to $0.00000130. A clean breakout above $0.00000095 would validate bullish sentiment and potentially drive the price toward $0.00000190 or higher. However, a drop below $0.00000850 could invalidate this setup and signal weakness in the current trend.
Supporting the bullish case is a notable spike in trading volume, up 18% in the past 24 hours to $1.2 billion. Binance alone accounted for 35% of this activity. CoinGlass data also shows an uptick in short liquidations, often a sign that bearish traders are being forced to cover their positions, accelerating upward pressure.
At the time of writing, PEPE is swapping hands with $0.000008130 marking a 10.94% decline in the past week. This has left the memecoin with a $3.42B market cap.
Whales Boost PEPE Rally.
Whale activity has added further fuel to PEPE’s rally. A whale recently withdrew 1.5 trillion PEPE coins (worth approximately $13.3 million) from Binance, reducing the exchange’s PEPE reserves by 7%. LookOnChain identified the wallet as one holding over $147 million in assets. The withdrawal appears to have triggered retail interest, with PEPE/USDT buy orders surging 15% shortly after.
From a technical standpoint, PEPE has broken out of a falling wedge pattern, a formation known for predicting bullish reversals. It is also forming a rounded bottom—a classic signal of trend exhaustion and reversal to the upside.
Still, macroeconomic factors loom in the background. The recent retirement of Warren Buffett—long considered a bastion of traditional investing—has stirred uncertainty. Buffett’s comments questioning the long-term strength of the US dollar and advocating for diversification have rippled across markets, fueling cautious sentiment even within the crypto sector.
PEPE is currently trading at $0.00000823, down 1.57% in the last 24 hours. With support now eyed at $0.00000775 and $0.00000700, traders remain watchful. If buyers re-emerge strongly at those levels, a renewed push above $0.00000850 could spark the next leg up.
With bullish chart patterns, rising volume, and strategic whale positioning, PEPE coin may be gearing up for a significant move—one that could reshape its near-term trajectory in the meme coin market.