After a consolidation phase, the memecoin PEPE appears poised for a new surge. Whales are accumulating, hinting at a major bullish trend ahead. Let's delve into a detailed analysis of technical and on-chain signals to uncover more.
Written by Léa - Last updated on 01/15/2025 at 10:17 by Léa
The narrative surrounding memecoins, led by the cryptocurrency featuring the famous frog Pepe (PEPE), is currently experiencing renewed bullish momentum following the recovery of Bitcoin (BTC).
This mid-cap memecoin, with a fully diluted market cap of around $7.2 billion and an average daily transaction volume of $1.2 billion, has bounced back from a critical support level, signaling positive sentiment.
On a weekly timeframe, the price of PEPE is following an uptrend, characterized by a series of higher highs and higher lows.
As a highly liquid memecoin, PEPE is attracting increasing attention from institutional investors and “whales” (holders of large positions).
With over 380,000 on-chain holders, PEPE is already listed on major cryptocurrency exchanges such as Binance, Kraken, OKX, and Coinbase Global.
According to on-chain data analysis from Spot On Chain, a crypto “whale” has withdrawn nearly 1.08 million PEPE tokens, equivalent to approximately $18 million, over the past two days.
From a technical standpoint, the price of PEPE is currently approaching the apex of a bullish continuation pattern in the form of a triangle. On the daily chart, the price of PEPE has bounced off the 50-period Moving Average (MA), indicating a potentially significant bullish rebound in the short term.
On a four-hour timeframe, the price of PEPE against the US dollar is forming a bullish continuation pattern, with the Relative Strength Index (RSI) trending upwards, despite the ongoing market correction.
If the price of Bitcoin successfully breaks through the major resistance level of $108,000 observed in recent months, the altcoin market is expected to experience increased bullish volatility. Additionally, Bitcoin’s dominance is signaling a macro reversal pattern, hinting at the much-awaited “alt-season.”
The technical signals and growing interest from “whales” suggest a new phase of explosive rally for this memecoin. Informed investors would be wise to consider PEPE as an opportunity to benefit from the anticipated bullish momentum.
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Léa is part of the InvestX team which supports members in their training. She is also a crypto enthusiast who follows the market closely. For the InvestX.fr site, she writes articles to help readers decipher the news and what happens day after day in the world of blockchains.
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