Date: Tue, February 4, 2025 | 04:05 AM GMT
The cryptocurrency market is staging a strong comeback after a sharp sell-off, with Bitcoin (BTC) reclaiming the $99K level after dipping to $91K. Ethereum (ETH) has also bounced back, surging from $2,100 to $2,700.
Among the biggest gainers in this recovery is Pepe (PEPE), Ethereum’s top memecoin, which has rebounded 13% from its recent low of $0.0000079, now trading around $0.000010.
Analyst Insights
Crypto analyst Jameson sees this recovery as a major turning point for PEPE. He highlights key technical signals that suggest a potential bottom is in:
- Monthly FVG Filled: PEPE has fully filled its Fair Value Gap (FVG) on the monthly chart, a critical support zone.
- Strong Demand Zone: The price recently tested a high-timeframe (HTF) demand zone, which acted as a strong support level.
- Massive Intraday Reversal: PEPE was down 25% at its lowest point yesterday but managed to close in the green—a sign of strong buying pressure.
Jameson believes this marks a trend reversal and expects PEPE to follow Ethereum’s lead in the coming weeks:
“I expect ETH to start outperforming here soon, and PEPE to follow suit as the top ETH beta. Many are not prepared for what’s coming. ETH is about to go nuclear, and PEPE will act as leveraged ETH.”
Potential for a Repeat of 2024’s Rally?
Looking at the PEPE daily chart, analysts note a setup similar to Q1 2024, when PEPE skyrocketed over 10x in value. If history repeats itself and Ethereum climbs from $2,750 toward $4K, PEPE could see another explosive rally.
For traders watching memecoins, PEPE remains a key token to monitor as the broader crypto market shows renewed strength.
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