Chart Pattern: Falling wedge (bullish) identified on the weekly chart.
Indicators:
RSI: Above 50 on daily, weekly, and monthly charts, indicating bullish momentum across timeframes with no immediate overbought conditions (RSI < 70).
EMA: Bullish on weekly and monthly charts (price above key EMAs).
Current Sentiment: Mixed but leaning bullish. X posts highlight optimism, with traders noting a bullish pennant, whale accumulation, and parallels to PEPE’s 2023 breakout structure. However, recent price dips suggest caution.
Key Narratives:
A dormant whale withdrawing 2.2T PEPE ($29M) from Binance on May 19 signals strong holder confidence.
Predictions of a 50-100% rally if the short term bullish pennant breaks, with a potential new ATH in June 2025.
Correlation with Bitcoin’s ATH proximity suggests PEPE could benefit from a broader crypto rally.
Conclusion:
PEPE is well-positioned for a potential bullish breakout in the near term, supported by the falling wedge, RSI > 50, and bullish EMAs across timeframes. Its meme coin nature ties its performance to community hype and broader crypto market trends, particularly Bitcoin’s trajectory.
Not financial advice.
