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Pepe (PEPE) gears up for a rally amid breakout from consolidation

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by Giorgi Kostiuk

8 months ago

Pepe (PEPE), known as a meme coin, has shown significant price increases following a period of consolidation alongside major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), breaking the resistance since December 2024.

Pepe (PEPE) Technical Analysis

According to CoinPedia, PEPE has broken out of a descending triangle pattern, paving the way for potential gains. If the current trend continues and PEPE closes above $0.000020, it could increase by 38% to reach $0.000027 soon.

Current Price Momentum

As of January 17, 2025, PEPE traded around $0.000020 after a significant price surge, sparking interest and confidence among traders and investors, resulting in a 30% increase in trading volume.

Bullish On-Chain Metrics

CoinGlass data indicates traders are optimistic, with significant long and short positions around the $0.000019 to $0.00002044 range, totaling $6.70 million in longs and $2.25 million in shorts.

Forecasts suggest Pepe (PEPE) may continue to rise due to technical and analytical factors, drawing increased attention from both investors and speculators.

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