Meme coin $PEPE has formed what analysts refer to as a "Phoenix Rising" pattern, suggesting a strong potential for recovery.
According to OneImpact, this pattern could signal an increase in price by 66%. The PEPE chart exemplifies a textbook case of the Phoenix formation, displaying several key characteristics, including a solid accumulation base and a confirmed breakout.
Accumulation took place between March and April 2025, during which smart investors were believed to have purchased PEPE at prices ranging from $0.000005 to $0.000008. Since then, PEPE has moved out of this range, creating a green candle with increasing volume; this typically indicates rising interest from institutional investors.
Currently, attention is focused on a historical supply level situated between $0.0000175 and $0.0000185. This area previously functioned as support and may now act as resistance.
Price Projection and Phased Growth Outlook
From the pattern identified, OneImpact anticipates experiencing a three-phase growth pattern. During the first consolidation stage, PEPE is likely to retreat a bit to a higher low at around $0.00001033, which might form a nice risk-reward opportunity. During the second phase, the price would create higher highs and lows, indicating bullishness.
The last stage might push the meme coin to the analyst's sell-take-profit goal at $0.00001715. This would be a gain of about 66% of the recent trading level. The analyst underlined a triple confluence of this scenario: volume confirmation, historical pattern similarity, and general alignment with the market.
Volume expansion, specifically in this recent breakout, has heightened the confidence of this bullish formation. The present chart reflects the bottom formation made at the beginning of 2024 and followed by a sharp rally. In addition, decreasing Bitcoin dominance projections indicate an altcoin's like PEPE upsurge in interest and performance in the short term.
Market Context and Recent Price Movement
PEPE has increased by more than 9% within the last 24 hours, and it currently trades at almost $0.00001427, according to CoinMarketCap data. The trend of price movement and the chart patterns have attracted technical traders many of whom are observing the $0.00001715 level as the next significant resistance area. The momentum seems to agree with the greater altcoin momentum as the broader market for crypto recovers.
