Key Insights:
- PEPE coin price is nearing a breakout as whales tighten exchange supply and accumulate.
- Analysts believe PEPE may reach $0.00004, a 40x increase, when it breaks a significant barrier.
- With Ethereum’s rally, meme coins like PEPE are primed for further price momentum.
PEPE token is currently a popular topic in the crypto community. Analysts and traders are eyeing its price action closely. Recent whale movements indicate that the token is at the threshold of a massive breakout.
Whale Activity Indicates a PEPE Coin Price Breakout Potential
Whales have been buying their PEPE tokens as an indication of a potential bullish turnaround. Last week, James Wynn earned a total of $23,117 in referral rewards. With these profits, Wynn has undergone serious losses against a trail of liquidations.
According to Lookonchain data, Wynn was long in several assets, such as PEPE, ETH, and DOGE, but the turbulence of the market exchanges caused a loss in excess of $17,165. This had left him with only $5,952 of his previous profits, demonstrating the riskiness of leveraged trading.
More so, Wynn’s positions included sizable liquidations on PEPE, ETH, and DOGE, primarily on long trades. He gained with the referral rewards, but aggressively positioned himself to incur huge losses.
The data highlighted the dangers of high-leverage trading, particularly in highly volatile meme coins like PEPE and DOGE. These coins are especially susceptible to unpredictable market fluctuations, increasing the risks for traders.
As PEPE price has risen from $0.000000985 to $0.000015, analysts are hopeful for continued momentum. Should whales continue buying the token, it will likely experience significant positive growth. The downward trend in exchange supply suggests that a supply squeeze may occur. A breakout will bring the top memecoin to new all-time highs.
Symmetrical Triangle Forms on the PEPE Coin Price
In the meantime, PEPE analysts spotted a symmetrical triangle on the PEPE chart. This chart pattern is often seen before significant breakouts. The price has been moving along a pattern of higher lows and lower highs, showing consolidation.
This indicates that the meme coin is gearing up to perform a decisive action. The traders are paying close attention to the possibility of a triangle breakout.
If the PEPE price breaches the upper border of this triangle, the target price might reach around 0.000022. The nearest resistance to be faced is at the 61.8% Fibonacci retracement. A break of this level can further push the price of PEPE up to the upside with a target of $0.000039.
Ethereum’s Bullish Trend Benefits PEPE Price Action
The positive trend in Ethereum has resulted in a positive effect on meme coins such as PEPE. As Ethereum hits new records, the interest in altcoins rises among investors. PEPE has seen inflows as Ethereum’s market dominance rises.
This has provided PEPE price with renewed buying pressure. Historically, meme tokens such as PEPE stand to gain with the overall positive movements in Ethereum.
The performance of Ethereum has been one of the stimuli for the meme coins. As larger volumes of money come into Ethereum, investors are looking to take on high-reward, high-risk investments such as PEPE. Analysts believe that the momentum from Ethereum’s rally could spill over into PEPE price. This could fuel another surge in PEPE’s value.
PEPE Approaching a Potential Breakout
According to analyst CryptoELITES, PEPE was trading close to an important support level, making it a good buying point. The chart analysis showed that it may rise by 40x to $0.00004 within the next few weeks.
Moreover, the bullish pattern on the chart indicates that PEPE has bottomed out, hence providing a good entry point. As soon as PEPE price overcomes the resistance at $0.000015, it may spike to greater heights.
The analyst revealed that the meme token had tested important support levels. Every bounce off these levels further increases the possibility of a breakout. Analysts believe that PEPE could grow tremendously should it continue to move in its present direction. The effects of accumulation by whales and exchange supply further reinforced this.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.