Pepe Coin (PEPE) is experiencing a renewed interest among traders, having risen over 12% in the past week. Currently, the token is trading around $0.00000708, with its forward price structure suggesting a potential breakout.
Technical Analysis and Pattern
The analysis prepared by MadWhale and MasterAnanda shows that PEPE is forming a bullish pattern between $0.000005 and $0.000009. This structure may signal price continuation. The token is currently testing key resistance at $0.00000924, and a breakout above this level could create opportunities for higher targets close to $0.000013.
On-Chain Metrics
On-chain data suggests that retail accumulation is on the rise. Etherscan reported a 67% increase in transactions under $1, with five wallets accumulating over 600 billion PEPE tokens worth $4.28 million in just one day. This indicates that smaller holders are returning to the market, forecasting a potential wider altcoin rally.
Outlook and Potential Targets
Historical comparisons to 2024's price behavior indicate similar movements before PEPE's rally to its all-time high of $0.00002803. Current metrics and decreased volatility from 146% to 115% might signal significant price movements ahead, with potential targets at $0.00004264 and $0.0000627.
Overall, PEPE Coin displays promising signs of potential growth, fueled by both technical analysis and positive on-chain metrics. If current trends persist, the token may continue to strengthen in the near future.
