Pepe Coin (PEPE) Eyes 70% Surge Amid Whale Accumulation
The cryptocurrency market is buzzing as Pepe Coin (PEPE), the second-largest Ethereum-based meme coin, stages a powerful comeback. On July 3, PEPE surged to $0.0000107, marking its highest price since June 17. This bullish breakout has traders eyeing a potential 70% rally, fueled by increasing whale activity and broader market optimism.
Why Is PEPE Rallying?
The recent uptick in PEPE’s price aligns with two key factors:
- Whale Accumulation: Large investors, or “whales,” have been aggressively accumulating PEPE, signaling confidence in its short-term growth potential.
- Market Recovery: The broader crypto market rebounded this week, with Bitcoin and Ethereum leading the charge, creating a favorable environment for altcoins like PEPE.
Technical Analysis: Bullish Signals Ahead
From a technical standpoint, PEPE has broken out of a descending wedge pattern—a classic bullish reversal indicator. If the momentum holds, analysts predict the next resistance levels at:
- $0.000012 (short-term target)
- $0.000015 (mid-term target if buying pressure continues)
The Relative Strength Index (RSI) also suggests PEPE is not yet overbought, leaving room for further gains.
What’s Next for PEPE?
While the current trend is encouraging, traders should remain cautious. Meme coins are notoriously volatile, and PEPE’s rally depends on sustained whale interest and market sentiment. Key factors to watch include:
- On-chain activity: Continued whale purchases could drive prices higher.
- Bitcoin’s performance: A BTC downturn could dampen altcoin rallies.
- Regulatory news: Any negative developments could trigger a sell-off.
For now, PEPE’s resurgence is a testament to the unpredictable yet thrilling nature of meme coins. Will the frog-themed token leap to new heights, or is a correction looming? Stay tuned for updates.
