Pepe (PEPE), currently the third-largest meme token by market capitalization, has garnered significant attention from cryptocurrency investors. At press time, PEPE was trading at $0.000006862, reflecting a 3.09% decline in the past 24 hours. Despite the dip, PEPE’s $819 million trading volume underscores strong market participation and investor interest.
Bullish Formation Signals Potential Upsurge
Crypto analyst Ali Martinez has identified an inverse head-and-shoulders pattern in PEPE’s price action, a formation typically signaling a bullish breakout. The token has tested the right shoulder and is approaching a key resistance level.
$PEPE is shaping up an inverse head-and-shoulders, hinting at a breakout to $0.0000105! pic.twitter.com/h1gWhgJVl6
— Ali (@ali_charts) March 17, 2025
If PEPE successfully breaches the $0.0000075 resistance, Martinez suggests a rally of up to 40%, pushing the price towards $0.0000105. This bullish scenario hinges on sustained momentum and positive market sentiment.
Sell-Offs and Market Sentiment Weigh on PEPE
Despite its optimistic technical indicators, on-chain data highlights increasing sell-offs from PEPE whales. Large holders are offloading their positions after the token’s prolonged bearish trend, which saw a steep decline of over 76% from its December 2024 peak of $0.00002825.
The sell-off trend raises concerns over investor confidence. Even with high-profile exchange listings, PEPE’s price struggles suggest a potential shift in sentiment. Transaction data reveals that large-scale trades influence price fluctuations, making whale activity a key factor in the token’s trajectory.
Technical Indicators Show a Neutral Market
At the time of writing, PEPE’s Relative Strength Index (RSI) stood at 51.06, indicating neutral market conditions. This balance suggests the token is neither overbought nor oversold, making it susceptible to both bullish and bearish moves.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows slight bullish momentum, with the MACD line above the signal line. PEPE is currently trading within a tight range, with the next resistance at $0.0000070. A breakout beyond this level could fuel further gains. Conversely, if the MACD weakens and RSI drops below 40, PEPE risks falling to $0.000006.
As PEPE navigates this critical phase, investors and analysts closely watch for breakout signals, making the meme coin a pivotal asset in the current crypto landscape.
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 (PEPE) Skyrockets 7% as Whales Accumulate $4.3M – Is a Surge Incoming?
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