Pepe Coin (PEPE) Price: Technical Patterns Suggest Possible 40% Upside Movement

TLDR

Table of Contents

Pepe Coin price has risen 35% from its yearly low, reaching $0.000007181
Multiple analysts identify an inverse head and shoulders pattern forming on PEPE’s hourly chart
Exchange outflows have increased 1.21% in the past week, with tokens held on exchanges dropping to 240.15 trillion
Analysts predict between 40% to 60% potential price increase if PEPE breaks above the $0.0000075 resistance level
Derivatives interest has grown with futures open interest up 8% to $237.90 million and volume up 16% to $627.05 million

Pepe Coin’s price has been showing strong recovery signals recently after facing a challenging period earlier. The meme coin is currently trading at $0.000007181, marking a 35% increase from its lowest point this year. This recovery has caught the attention of many market analysts.

The popular frog-themed cryptocurrency now holds a market cap of $2.9 billion. This valuation comes after PEPE experienced a 6% gain in the last 24 hours alone, demonstrating renewed market interest.

Data from blockchain analytics firm Nansen reveals an interesting trend among PEPE holders. Many investors are moving their tokens from centralized exchanges to self-custody wallets. The amount of PEPE held on exchanges has dropped by 1.21% over the past week to 240.15 trillion tokens.

This movement of coins away from exchanges is typically viewed as a positive indicator. When investors transfer their assets to personal wallets, it suggests they plan to hold rather than sell. Such behavior often indicates growing confidence in the asset’s future value.

Technical analysis of PEPE’s price chart reveals several bullish patterns forming. One of the most notable is an inverse head and shoulders pattern on the hourly chart. This pattern has been developing since the beginning of the month.

A possible inverse head and shoulders on $PEPE
A break of the neckline could trigger a 30% rally 🚀 pic.twitter.com/UqZ4zg0nwb
— Trader Edge (@Pro_Trader_Edge) March 17, 2025

For those unfamiliar with this pattern, an inverse head and shoulders formation typically signals a potential reversal from a downtrend to an uptrend. The pattern consists of three dips, with the middle dip (the head) being lower than the two surrounding dips (the shoulders).

According to Trader Edge on X, a break of the neckline could trigger a 30% rally. This would be a major recovery for PEPE, which has faced nearly 30% price drops over the past month.

Another respected market analyst, known as CryptoELITES, recently claimed that PEPE had already confirmed a bottom at $0.0000069834. The current price is already trading above this level, suggesting the early stages of a recovery may be underway.

CryptoELITES holds an extremely bullish outlook on PEPE. The analyst believes the current pump is just the beginning, predicting that a 40X target lies on the horizon for the meme coin.

I Called the Bottom for PEPE!
The breakout is coming soon!
🔗 Join my Telegram: https://t.co/EeTzlicwoM #Pepe $PEPE https://t.co/I6YDSlPhJS pic.twitter.com/rlrpILdi97
— @CryptoELlTES (@CryptooELITES) March 12, 2025

The daily chart for PEPE shows another bullish signal in the form of a double-bottom pattern. This formation consists of two downward peaks at around $0.00005920 with a neckline at $0.00002827. This is considered one of the most bullish reversal formations in technical analysis.

Technical indicators are also painting a positive picture. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have formed what analysts call a bullish divergence. This occurs when an asset’s price is falling while these oscillators are rising.

A falling wedge pattern has also been identified on PEPE’s chart. This setup, defined by two descending and converging trendlines, typically suggests that the coin could experience a bullish breakout in the coming days.

Yet another analyst, known as World of Charts, has joined the bullish chorus. This analyst also highlighted the inverse head and shoulders pattern and expects a 50-60% price increase after a successful breakout from resistance levels near $0.000007.

These multiple confirmations from different analysts have added to market optimism. Their predictions have cemented investor sentiment that a bull run could be in the making for the popular meme coin.

Interest in PEPE derivatives has shown renewed strength

Data from Coinglass shows that PEPE futures open interest has risen by over 8% to $237.90 million recently. The derivatives trading volume has also increased by nearly 16% to $627.05 million.

These figures indicate growing trader engagement with PEPE, potentially driven by the bullish predictions. Increased derivatives activity often precedes major price movements in the crypto market.

The broader market outlook for PEPE appears optimistic ahead of the upcoming U.S. Federal Open Market Committee (FOMC) meeting. These meetings often impact crypto markets as they provide insights into monetary policy decisions.

PEPE’s weekly performance shows a 22% price increase according to data from CoinMarketCap. This recovery comes after a challenging period that saw PEPE’s price drop significantly over the previous month.

The initial target for PEPE’s price is the psychological level at $0.000010. Breaking above that could potentially push PEPE toward $0.00001457, its lowest swing in December. However, analysts caution that a drop below the year-to-date low of $0.0000053 would invalidate the bullish outlook.

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