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
Source: Coinmarketcap
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.
Source: @spotonchain (X)
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.
PEPE Daily Chart/Coinsprobe (Source: Tradingview)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.
