Date: Thu, March 27, 2025 | 05:15 AM GMT
The cryptocurrency market is showing signs of recovery as Ethereum (ETH) surges 15% from its March 11 low of $1,754, reclaiming the $2,000 level. This resurgence has provided much-needed relief to altcoins and memecoins, many of which had suffered sharp corrections following the late 2024 run.
Among the standout performers is Pepe (PEPE), which has gained over 16% in the past week after facing a heavy drop over the last 90 days, leading to a key technical breakout. Additionally, whale accumulation signals growing confidence in the token’s price potential, hinting at further upside movement
Whale Accumulation Signals Strength
As PEPE’s price action strengthens, whales have begun making significant moves. According to SpotOnChain, a newly created wallet just withdrew 500 billion PEPE ($4.3M) from Binance, suggesting that institutional or high-net-worth investors are positioning themselves for a potential price rally.
Can This Breakout Lead to a Recovery?
The daily chart indicates a bullish breakout from a falling wedge pattern, a historically strong reversal signal. PEPE successfully broke above $0.0000079, surpassing both the upper resistance trendline and the 50-day moving average (MA). Following this breakout, PEPE surged to $0.00000856, showing strong bullish momentum.
If this momentum continues, PEPE’s next key resistance zone lies at $0.000010. A successful breach above this level could see the price targeting the 200-day MA and the $0.00001475 price zone, representing a potential 72% rally from current levels.
However, before making a decisive move higher, PEPE could retest the breakout level, which would serve as a confirmation of support before the next leg up.
Final Thoughts
With whale accumulation, a bullish technical breakout, and improving market sentiment, PEPE appears poised for further gains. However, traders should watch for a possible retest of support levels before expecting sustained upside momentum.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.