Despite the ongoing uncertainty in the cryptocurrency market, Pepe (PEPE), the third-largest memecoin by market cap, is showing signs of a potential upward movement. Currently trading at $0.00000745, PEPE has gained 1.20% in the last 24 hours, signaling a bullish outlook despite reduced trading activity.
Positive Price Action and Technical Analysis
PEPE’s positive sentiment is supported by its robust price action and favorable technical patterns. According to AMBCrypto’s analysis, PEPE is forming a bullish double-bottom pattern on the daily chart, suggesting potential for a strong price reversal. The token recently broke through a descending trendline that had served as resistance since March 2025, marking a significant shift in momentum.
After this breakout, PEPE saw a rise of over 10%, despite the market’s continued volatility. With the price action indicating strength, PEPE is poised for an additional 20% increase, potentially reaching the next resistance level of $0.000014. This suggests that PEPE could be on the brink of an 85% rally, depending on continued bullish momentum.
On-Chain Metrics Support Bullish Sentiment
On-chain metrics further bolster PEPE’s bullish outlook. Data from Coinglass revealed a substantial outflow of $5.17 million worth of the coin from exchanges, pointing to potential accumulation. This outflow can create buying pressure, supporting further upward movement.
Also Read: Pepe Coin (PEPE) Whales Trigger Sell-Off: 1 Trillion Tokens Offloaded as Price Slides 14% Weekly
Additionally, 63% of top traders on Binance are taking long positions on the coin, indicating strong confidence in its future performance. The Long/Short ratio of 1.70 suggests that the majority of traders are bullish, with short sellers showing signs of exhaustion.
A Potential Breakout for PEPE
While PEPE is still trading below its 200-day Exponential Moving Average (EMA), indicating weak momentum, the memecoin’s recent price action and positive on-chain data suggest that it may be primed for a significant breakout. Traders and investors should watch for a daily close above $0.0000091 for confirmation of a continued rally, with a potential upside of up to 85%.
$Pepe #Pepe Went More Than 100%+ After Breakout In October Now Expecting Same Move After Successful Breakout. https://t.co/eVSs3xVFrT pic.twitter.com/itsBHJcFgP
— World Of Charts (@WorldOfCharts1) April 14, 2025
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.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
