- PEPE was trading around $0.00000384, down 12.77% for the week, with a market cap of $1.62 billion.
- Breakout from the Head and Shoulders formation projects a target of $0.0000017, indicating short-term momentum building.
- Strong levels of resistance at 0.0000049 might cause a reversal towards $0.0000060-$0.0000090 if held.
Pepe (PEPE) traded around $0.00000384 as it dropped by 12.77% during the week, with a 5.24% decline in market cap to approximately $1.62 billion. The setback follows a softer phase across meme coins, as profit-taking pressures have been seen following the massive rallies during the first quarter of the year.
Despite the price being under pressure, the holder base is up to approximately 659,000 wallets since there is strong interest in the token.
PEPE Gains Momentum Toward $0.0000017
On the social media platform X, analyst Ali Charts pointed out that PEPE has just broken out from the head and shoulders formation and that the momentum is building up for $0.0000017. The technical analysis from the breakout indicates that there is a possibility of reversing the trend, with the momentum moving up.
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Historical Demand Zone May Trigger a Reversal
According to TradingView, the current level of PEPE is at one of its most critical areas since the rally during 2024-2025. The previous rally was followed by a period in which the chart began to form a series of lower highs, a sign of a distribution pattern.
Price is currently oscillating in the vicinity of the 0.0000049 levels, labeled as a critical resistance zone that has been a battlefield between buyers and sellers. Every time it has been approached, steep movements have resulted.
If PEPE can close a four-day candle above 0.0000049 and follow through on a test of the level without falling back below, it would be seen as a cleaner confirmation of the fact that the bear trend is losing strength rather than a simple short squeeze.
If this bullish confirmation comes to pass, there is an obvious path indicated on this chart, which starts with 0.0000060, located in a lighter supply region, as the initial target. Next, 0.0000090 is seen as an area that has long been a magnet for price in previous price developments.
A broader target is to be found around the level of 0.0000120, which may well represent a significant movement away from a neutral to a positive phase, pending an increase in volumes and a matching demand for spot sales to counterbalance any speculative flows.
The bearish script remains on the table if another rejection occurs at 0.0000049. Pressure would probably drive PEPE down to the DEMAND zone around 0.0000020 – 0.0000016, marked by a “yellow box,” which is defined as “the strongest structural level of support on this chart.”
It triggered a strong upside reversal previously, hence why it is considered one of the last places where larger buying might come back into play on a discount basis.
If price slices below 0.0000016, this will mean the market is signaling a structural flush is occurring, and the clearing out of liquidity is taking place before a long-term base can be established.
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