Date: Fri, March 07, 2025 | 04:15 AM GMT
The cryptocurrency market remains in a corrective phase following the November rally. One of the hardest-hit memecoins in this downturn has been Ethereum based top memecoin, Pepe (PEPE), which has seen a sharp 67% correction over the past two months.
Currently, PEPE is trading around $0.0000067, hovering near six-month lows as traders assess whether a rebound is on the horizon.
Testing Make or Break Support
According to the latest analysis by crypto analyst Chandler, PEPE has now reached a critical Make or Break Support level. Since its December 9 high of $0.000028, the price has continuously declined, bringing it down to the $0.0000068 mark, where it is now testing a crucial trendline support.
Historically, this level has provided strong demand, and a bounce could open doors for further recovery.
Is a Rebound Ahead?
While market conditions remain uncertain, analyst Chandler has also referenced insights from @Moonshilla, highlighting the significance of the Global Money Supply (M2) crossing the 100 DEMA (Double Exponential Moving Average). Historically, this event has coincided with major Bitcoin rallies.
The last two occurrences of this trend were:
- Spring 2016 (February) – BTC began a major rally toward its all-time highs in 2017
- Spring 2020 (March) – BTC rebounded from the COVID crash, leading to the 2021 bull run
- Spring 2025 (March) – Current M2 trends indicate a similar setup, raising expectations for a Bitcoin-led market rebound.
If history repeats itself, a recovery in Bitcoin could fuel renewed bullish momentum in the altcoin and memecoin sectors, potentially sparking a PEPE reversal.
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