Date: Wed, Jan 29, 2025, 05:57 PM GMT
The cryptocurrency market has remained under bearish pressure over the past few weeks, despite Bitcoin’s strong performance. A key factor behind this downturn is Bitcoin’s increasing dominance, which has climbed from a December 4th low of 54.74% to 59.56%, leading to significant declines in altcoins and memecoins.
Among those affected is Pepe (PEPE)—one of the top memecoins—which has suffered a 38% drop over the past 60 days. Today, PEPE continues to trade in the red, as the market faces high volatility ahead of the FOMC meeting, scheduled for 2:30 PM ET.
However, a fresh analysis from crypto expert @MaxBecauseBTC suggests that PEPE may be gearing up for a significant move.
According to analyst’s analysis, PEPE’s current price structure strongly resembles its historical movement from late 2023, a period that preceded an explosive 11x rally in early 2024.
In December 2023, PEPE formed a local bull trap before correcting into a key demand zone known as the Monthly FVG+. The price consolidated and bottomed out on February 5th, leading to an astonishing 1,160% surge over the next 38 days, peaking on March 14th.
A similar price action pattern is unfolding now in 2025, where PEPE has once again entered its monthly FVG+ support zone while showing bullish divergence with Bitcoin. If history repeats itself, PEPE could be on the verge of another parabolic breakout, with analysts watching for a trend reversal confirmation in the coming days.
Key Levels to Watch
The crucial support zone for PEPE is currently between $0.00001135 and $0.00001350, marked by the Monthly FVG+ area. This level will be critical in determining whether PEPE can hold its ground and initiate a reversal. On the upside, the first major resistance level stands at $0.00001900, with a significant breakout zone at $0.00002180. If momentum builds similarly to early 2024, PEPE could aim for another massive rally, potentially mirroring its previous 1,160% surge.
Is PEPE Ready for Another 10x Run?
While the technical setup suggests a possible breakout, external market factors—including Bitcoin’s dominance trends, the outcome of the FOMC meeting, and overall investor sentiment—will play a crucial role in determining PEPE’s short-term trajectory. Holding the Monthly FVG+ support zone is essential for bulls to regain control, and if the pattern holds, PEPE may be gearing up for another explosive rally.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
