The meme coin Pepe (PEPE) may be on the verge of a sharp rally – despite facing a recent price drop. Technical analysis reveals the formation of a falling wedge pattern, a setup often preceding bullish reversals. Meanwhile, large holders are steadily accumulating, and exchange balances are shrinking.
📉 Short-Term Dip, But Signs of Reversal Ahead
Pepe Coin has come under selling pressure in recent days. On June 26, it dropped by 6%, reaching a low of $0.000009210, marking a 43% decline from its May peak. Still, several bullish signals are emerging that could push the price up by as much as 70%.
🔺 Falling Wedge Pattern Hints at Breakout
A falling wedge is gradually forming on the daily chart, defined by two downward-sloping, converging trendlines. The upper trendline connects lower highs since May 23, while the lower line connects lower lows since May 11. These lines are now converging, approaching a breakout point where bullish moves often occur.
To estimate the breakout target, we calculate the height of the wedge’s widest section:
$0.00001625 – $0.00001135 = $0.0000049
Adding this to the projected breakout point ($0.000009) gives a target of $0.0000139, implying a 50% increase from current levels.
However, a drop below this week’s low of $0.000008320 would invalidate the bullish scenario and suggest stronger bearish momentum, potentially pushing the price toward the year’s low of $0.000005740.
🐋 Whales Keep Buying, Exchange Balances Declining
One of the most encouraging signals comes from large investors. Whale wallets have been steadily increasing their PEPE holdings, which often precedes major price rallies. The total amount held by whales rose from 7.14 trillion to 7.64 trillion tokens – a nearly 6% increase in one month.
Publicly known wallets have also added more PEPE, now holding 274.37 billion tokens, up from 273 billion as of June 23.
Most notably, the supply of Pepe Coin on exchanges has fallen by more than 2.73% over the past 30 days, down to 248.2 trillion tokens. This decline means fewer tokens are available for immediate sale – a classically bullish signal.
✍ Summary
Even though Pepe Coin's price continues to drop this month, the formation of a falling wedge, declining exchange balances, and rising whale accumulation all point to a potential bullish breakout. If momentum builds, the price could soon see a 50–70% rally from current levels.
#pepe , #pepecoin🐸 , #memecoin , #CryptoWhales , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“