Date: Thu, Jan 30, 2025, 04:23 AM GMT
The cryptocurrency market is experiencing positive momentum today as Bitcoin (BTC) surged by 3%, reclaiming the $105K mark. This move follows the Federal Reserve’s decision to maintain the federal funds rate at 4.25%-4.50%.
Following BTC’s lead, top memecoins Pepe (PEPE) and Dogecoin (DOGE) are also trading in green today. However, despite their recent bounce, both are still recovering from their corrections—PEPE has dropped 22% in the past 60 days, while DOGE is down 37%.
Now, fresh analysis by prominent crypto traders suggests that both assets are repeating historical bullish patterns, hinting at potential breakout rallies.
Pepe (PEPE) Analysis
According to crypto analyst @ChandlerCharts, PEPE is mirroring its price action from the 2023/24 cycle, where a major 50% correction was followed by a massive rally.
The current price structure of PEPE is closely following its 2023/24 cycle, which saw a 50% correction before a parabolic surge. The 2024/25 cycle has already experienced a 60% dip, similar to last year.
In 2024, PEPE bottomed right after the January 31 FOMC meeting, where interest rates remained unchanged. A similar reaction is occurring now after the January 29, 2025, FOMC decision, with PEPE bouncing from key support.
The RSI (Relative Strength Index) has been following the same downtrend pattern as last year before a breakout. If this trend continues, PEPE could be preparing for a major bullish move.
If PEPE follows the previous cycle, it could rally back to its November highs and potentially break into new all-time highs.
Dogecoin (DOGE) Analysis
Crypto analyst @TATrader_Alan highlights that DOGE is currently in its third market cycle and is showing a textbook accumulation pattern, similar to previous explosive bull runs.
DOGE has been following a repeating pattern seen in Cycle 1 (2017) and Cycle 2 (2021). Each cycle involved an extended accumulation phase, followed by a major parabolic rally.
The chart shows higher lows marked in green, indicating steady accumulation. A major trendline breakout and correction phase, similar to 2017’s Cycle 1 and 2021’s Cycle 2, is marked in a yellow circle, mirroring the current setup of Cycle 3. If history repeats, it could ignite the next leg up.
If the pattern holds, according to the analyst, DOGE could surge toward $3.0 – $5.0 in the coming months.
Final Thoughts
Both PEPE and DOGE are showing strong historical fractals, aligning with their past breakout patterns. With the broader market turning bullish and Bitcoin leading the way, these two memecoins could be gearing up for their next explosive rallies.
However, as always, market conditions can change rapidly, so it is crucial to monitor key levels and macroeconomic factors before making any investment decisions.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.