The cryptocurrency market shows some instability; however, memecoin PEPE is indicating trends of growth that warrant closer examination.
Market Situation Analysis
The cryptocurrency market continues to exhibit fluctuations, with Bitcoin (BTC) consolidating around $110,000 and Ethereum (ETH) hovering at $4,300 after a recent peak of $4,953. Despite the overall volatility, several memecoins, including **Pepe (PEPE)**, are beginning to show upside potential.
Falling Wedge Formation in PEPE
On the daily chart, PEPE is forming a **Falling Wedge pattern**—a bullish reversal structure that often signals the end of a downtrend and the start of upward momentum. The latest rejection from the wedge’s resistance pushed the token down toward its support level near $0.000009146, where buyers quickly stepped in. PEPE is now hovering around $0.000009655, just below its wedge resistance.
Future Scenarios for PEPE
If PEPE decisively breaks above its wedge resistance and reclaims the 50-day moving average ($0.000011), it would provide significant bullish confirmation. This could build momentum, potentially driving the token toward the next target of around $0.000015. Conversely, if PEPE fails to confirm the breakout and slips lower, it might retest its support trendline, which remains a crucial level for traders.
Memecoin PEPE presents interesting signs of potential growth; however, it is vital to monitor its behavior around current support and resistance levels.
