Altcoins are rebounding across the board, PEPE makes a strong return
Over the past three weeks, the overall cryptocurrency market has warmed up, with Ethereum (ETH) surging 31%, driving altcoins and meme coins to regain popularity. The previously pessimistically viewed PEPE coin has risen 28% in the past 30 days, with the decline since the beginning of the year reduced to 54%, returning to investors' sight.
Whales are making big purchases, releasing a strong bullish signal
On-chain data shows that a whale with over $147 million in assets withdrew 15 trillion PEPE (worth about $13.3 million) from Binance 8 hours ago. Such a large-scale purchase is seen as a strong endorsement of market confidence, especially at key points of technical formation, making it even more of a market barometer.
RAY and PEPE show the same fractal, is a 60% increase expected to be replicated?
Technical analysis shows that PEPE is replicating the double bottom fractal path previously seen in Raydium (RAY). RAY rebounded 45% after breaking through and retesting the neckline at $2.16. PEPE has currently broken through $0.0000092 and is confirming the retest—this is the same rhythm that led to RAY's sharp rise.
If the fractal holds, PEPE could soar to $0.000014, with an upward potential of nearly 60%. Coupled with the MACD and the position of the 50-day moving average being close, the technical signals further enhance the validity of this pattern.
Multiple favorable factors overlap, key support becomes the market barometer
Of course, the market is never short of variables. However, the combination of whale accumulation and the 'double insurance' of fractal patterns makes the bullish logic for PEPE more convincing in the short term. The next key observation point is $0.0000086. If it stabilizes, this meme coin may welcome the largest wave of fluctuations this year.
