TLDR
- An interesting development in PEPE's chart is the formation of an inverse head and shoulders pattern, hinting at a potential for its price to climb by 40%.
- Recently, the coin has rebounded admirably by 35% from its lowest values of the year, now trading hands at around $0.000007181.
- Analysts like Ali Martinez and CryptoELITES are anticipating substantial growth, forecasting returns that could multiply investments by 40 times.
- There's been a noticeable 1.21% increase in centralized exchange outflows, signaling that more investors are opting for self-custody solutions.
- Several bullish formations are coming to light, such as the double-bottom and falling wedge patterns, adding to the optimistic outlook for PEPE.
PEPE, the meme-inspired coin with a frog theme, is attracting attention thanks to various bullish indicators and positive analyst forecasts. After a steep 30% drop over the month, it has made a strong recovery, gaining 22% in the past week, with the price now hovering at $0.000007181.
A number of expert crypto analysts have recently drawn attention to PEPE’s bullish potential. Ali Martinez has spotted an inverse head and shoulders pattern on the hourly chart, forming since March, with a neckline resistance established at $0.0000075.
During a recent trading session, PEPE managed to briefly surpass this key resistance level, achieving an intraday peak of $0.000007582. The inverse head and shoulders pattern is well-regarded as a harbinger of trend reversal, typically signaling a move from bearish to bullish.
CryptoELITES asserts that PEPE has effectively established its bottom at $0.0000069834. The current pricing reflects a meaningful recovery, showing a 6% increase just in the past 24 hours.
An analyst known as World of Charts adds to the bullish consensus. They highlighted the inverse head and shoulders pattern and projected a potential surge of 50-60% upon breaking past resistance levels close to $0.000007.
$Pepe #Pepe Crucial thresholds have been crossed, and there are hopes of a 50-60% price surge following a decisive breach of resistance. pic.twitter.com/KcwEvHRRuX
— World Of Charts (@WorldOfCharts1) March 17, 2025
Looking at the daily chart, PEPE has carved out a double-bottom particularly around $0.00005920. This pattern, marked by twin troughs and a neckline at $0.00002827, ranks among the most reliable bullish reversal configurations known in tech analysis.
Technical Analysis
Supporting the bullish narrative further are technical indicators showing alignment, as both the RSI and MACD reveal bullish divergences—a scenario where the asset price is down while oscillators move up.
A falling wedge pattern has also emerged for PEPE. Characterized by two descending but converging trendlines, this setup typically hints at a possible bullish breakout soon.
Nansen data underscores a rise in exchange outflows, with the amount of tokens on exchanges diminishing to 240.15 trillion, a 1.21% reduction from last week—generally perceived as a positive trend as it implies holding over selling.
Interest surrounding PEPE is on the upswing. According to Coinglass data, futures open interest in the crypto has expanded over 8% recently to $237.90 million, while derivatives trading volume has surged nearly 16% to $627.05 million.
The initial price target for PEPE The psychologically significant level of $0.000010 is in focus. Breaking above this could potentially send PEPE towards $0.00001457, a point last touched on December 20.
Traders, though, should remain vigilant as a dip beneath the year-to-date low of $0.0000053 would negate the bullish forecast. This crucial support level needs safeguarding to preserve the uptrend momentum.
The renewed interest in PEPE The broader crypto market sentiment is on the mend, buoyed by optimistic vibes preceding the U.S. FOMC meeting, an event frequently influencing market directions.
At present, PEPE boasts a market cap of $2.9 billion, reflecting a 35% rise from its yearly nadir. Should the anticipated technical patterns play out, this valuation might increase significantly soon.
The existing price trends and technical signals suggest PEPE might be gearing up for another upward movement in the current crypto cycle. Market participants will keep a keen eye on pivotal resistance points to validate the breakout theory.
