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PEPE Coin Eyes Breakout as Bullish Patterns Form and Whale Activity Surges
By: ethnews|2025/05/05 19:30:02
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PEPE coin is showing strong signs of a potential breakout, driven by bullish technical patterns, rising trading volume, and significant whale accumulation.However, market uncertainty following Warren Buffett’s retirement and macroeconomic shifts could influence short-term price movements.PEPE just like the broader cryptocurrency market is flashing several bullish indicators. Notably, after weeks of consolidation, technical charts suggest that PEPE may be on the verge of a major breakout.This has been coupled with increased whale accumulation and strong trading volume, traders and market pundits are closely watching for a decisive move above key resistance levels.PEPE Technical Indicators. Recent price movements show $PEPE inching upward, testing the crucial support zone between $0.00000041 and $0.00000065. The Relative Strength Index (RSI) on the 4-hour chart has reached 62 and is trending toward the overbought zone (above 70), indicating strong buying momentum. However, a move into overbought territory could also signal a potential short-term correction.Key resistance lies at $0.00000095 and stretches up to $0.00000130. A clean breakout above $0.00000095 would validate bullish sentiment and potentially drive the price toward $0.00000190 or higher. However, a drop below $0.00000850 could invalidate this setup and signal weakness in the current trend.Supporting the bullish case is a notable spike in trading volume, up 18% in the past 24 hours to $1.2 billion. Binance alone accounted for 35% of this activity. CoinGlass data also shows an uptick in short liquidations, often a sign that bearish traders are being forced to cover their positions, accelerating upward pressure.At the time of writing, PEPE is swapping hands with $0.000008130 marking a 10.94% decline in the past week. This has left the memecoin with a $3.42B market cap.Whales Boost PEPE Rally.Whale activity has added further fuel to PEPE’s rally. A whale recently withdrew 1.5 trillion PEPE coins (worth approximately $13.3 million) from Binance, reducing the exchange’s PEPE reserves by 7%. LookOnChain identified the wallet as one holding over $147 million in assets. The withdrawal appears to have triggered retail interest, with PEPE/USDT buy orders surging 15% shortly after.From a technical standpoint, PEPE has broken out of a falling wedge pattern, a formation known for predicting bullish reversals. It is also forming a rounded bottom—a classic signal of trend exhaustion and reversal to the upside.Still, macroeconomic factors loom in the background. The recent retirement of Warren Buffett—long considered a bastion of traditional investing—has stirred uncertainty. Buffett’s comments questioning the long-term strength of the US dollar and advocating for diversification have rippled across markets, fueling cautious sentiment even within the crypto sector.PEPE is currently trading at $0.00000823, down 1.57% in the last 24 hours. With support now eyed at $0.00000775 and $0.00000700, traders remain watchful. If buyers re-emerge strongly at those levels, a renewed push above $0.00000850 could spark the next leg up.With bullish chart patterns, rising volume, and strategic whale positioning, PEPE coin may be gearing up for a significant move—one that could reshape its near-term trajectory in the meme coin market.The post PEPE Coin Eyes Breakout as Bullish Patterns Form and Whale Activity Surges appeared first on ETHNews.
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