PEPE Coin Shows Strength Amid Market Turbulence
PEPE Coin has captured market attention once again, posting an impressive 8% gain despite a substantial $15 million sell-off from Robinhood’s crypto wallet. This unexpected display of strength has sparked optimism among traders and analysts, many of whom now foresee a potential rally that could see PEPE retesting and even surpassing its all-time highs.
Market Resilience Following Major Sell-Off
Typically, a large-scale sell-off of this magnitude—particularly in the meme coin space—would trigger significant price declines. However, PEPE defied expectations. Instead of retreating, the asset rallied, signaling a shift in market sentiment and increasing maturity in its trading dynamics.
Robinhood’s remaining holdings still account for approximately 3.67% of PEPE’s total supply, currently valued at around $210 million. Remarkably, during the same period as the sell-off, spot market data revealed $335,000 in purchases—highlighting robust buyer interest and a supportive demand backdrop.
Technical Indicators Point to Potential Breakout
From a technical standpoint, PEPE appears poised for a breakout. On the 4-hour chart, a symmetrical triangle pattern is forming, often a precursor to sharp price movements. Analysts project a potential 12.24% breakout from this pattern, with a short-term price target of $0.00001541.
Zooming out, the daily chart presents a classic cup-and-handle formation—a bullish continuation pattern known to precede significant upward momentum. To confirm this setup, PEPE must first overcome resistance at $0.00001483. If successful, analysts believe the coin could rally as high as $0.00002836, representing a 91% increase from current levels and a return to December 2024 highs.
Positive Sentiment Across Derivatives Markets
The bullish outlook is further supported by activity in the derivatives market. Futures traders are increasingly taking long positions on#BinanceAlphaAlert #PEPE #PEPE
