The price of Pepe coin (PEPE) is currently under intense scrutiny from traders and analysts as several indicators point towards a possible significant breakout. Bullish technical patterns have materialized on the charts, and a notable increase in whale activity has been observed, fueling speculation about the meme coin’s next price trajectory.
In recent trading sessions, PEPE has demonstrated an upward trend, hinting at a potential surge to new price levels if it successfully breaches crucial resistance zones. Market participants are keenly observing key levels as technical indicators edge closer to overbought territory, suggesting a delicate balance between continued bullish momentum and a possible price correction.
Technical Indicators Signal Growing Bullish Momentum
PEPE’s recent price gains are reflected in its technical indicators. The Relative Strength Index (RSI) on the 4-hourly chart has climbed to 62, nearing the critical 70 level that often signals potential reversals for traders. While a move above 70 typically indicates an overbought condition and the possibility of a correction, the daily chart reveals consistent demand-side activity.
PEPE has established a support zone between $0.00000041 and $0.00000065, which has been tested multiple times, demonstrating its strength. Above this support, several resistance levels loom, including $0.00000095 and the range of $0.00000110 to $0.00000130. A decisive break above $0.00000095 could generate significant bullish enthusiasm, potentially propelling the price towards $0.0000010 and beyond. Conversely, a drop below $0.00000085 might signal weakness and challenge the current bullish setup, particularly if broader market sentiment turns negative.
Whale Activity and Short Liquidations Add to Bullish Outlook
Data from CoinGlass indicates a shift in trading behavior, with increasing short liquidations occurring in late April following a steady price climb. These liquidations, where short sellers are forced to close their positions as the price rises, can further accelerate upward momentum. Supporting this bullish case is a surge in buy-side volume, with PEPE’s trading volume jumping by 18% in the past 24 hours to $1.2 billion. Binance accounted for a significant 35% of this global activity.
Notably, a large whale recently withdrew 1.5 trillion PEPE coins, valued at approximately $13.3 million, from Binance. This substantial withdrawal reduced the available supply on the exchange and likely contributed to the recent price increase. LookOnChain reported that this transaction originated from a wallet holding around $147 million in assets. Retail traders reacted swiftly to this whale move, with PEPE/USDT buy orders on Binance increasing by 15% within just two hours. Binance’s total PEPE holdings subsequently decreased by 7%, a reduction in exchange reserves that often suggests a holding strategy and potentially less immediate selling pressure.
A whale with $147M assets withdrew 1.5T $PEPE($13.3M) from #Binance 8 hours ago.https://t.co/vX6QB0nqCg pic.twitter.com/MurHtoiZDW
— Lookonchain (@lookonchain) April 30, 2025
Bullish Chart Patterns Reinforce Potential Uptrend
PEPE’s price action has also displayed encouraging bullish chart patterns. The meme coin recently broke out of a falling wedge pattern, a widely recognized bullish reversal formation. This breakout was confirmed by a closing price above the wedge’s upper resistance line. Following this, a rounded bottom formation has begun to take shape, indicating a potential transition from a downtrend to an uptrend, suggesting increasing buyer accumulation and price stabilization before a possible upward move.
Short-term price targets are currently set between $0.00000095 and $0.00000110, with mid-term goals extending up to $0.00000190. If PEPE can maintain its upward momentum and confirm strength above $0.00000950, analysts are eyeing a longer-term target of $0.00000260. These price levels align with existing resistance zones, and sustained investor demand could see these zones being overcome. The current chart configuration, coupled with strong trading volume and improving market sentiment, positions PEPE coin favorably for a potential breakout, making it a closely watched asset by market participants seeking emerging opportunities.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Pepe Coin Price Soars After Breakout—Is It Time to Dump Ethereum for PEPE?
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