Pepe Coin's price has significantly fallen from its all-time high. However, several factors may aid its recovery in the future.
Formation of a falling wedge
One reason why Pepe Coin might recover is due to the formation of a falling wedge pattern on the daily chart. This pattern indicates weakening bearish momentum, possibly leading to a price reversal. Indicator analysis, such as ADX and divergence patterns, supports these optimistic projections.
Attention shift to Pepe from Solana's decline
Pepe Coin's price might benefit from attention drawn due to Solana meme coins' decline in popularity. The rise of rug pull scams in Solana has led some investors to consider more stable tokens like Pepe.
Whales and rising number of holders
Data shows about 17% of Pepe's whales have never sold, making it a significant asset as the number of holders continues to grow. This may indicate potential accumulation despite the overall decline.
With a large number of active holders and chart pattern analysis, Pepe Coin has chances for recovery in the future. Current market conditions create numerous opportunities for this.
