Over the past month, PEPE has stood out among memecoins, posting a gain of 30.13%. Recently, it continued its positive trajectory with a further gain of 3.90%.
The further upside potential is huge, with forecasts suggesting that PEPE could trade as high as $0.00001725, representing a potential 60% increase from current prices.
Double Bullish Pattern Could Trigger PEPE's Bullish Rally
PEPE has formed another bullish technical pattern and is currently trading within a symmetrical triangle—continuing the breakout from a larger symmetrical triangle formed earlier.
This new formation signals that PEPE has entered another accumulation phase, as buyers gradually increase their holdings in preparation for a potential price increase.
If a confirmed breakout from this pattern occurs, the next price target for PEPE would be $0.00001725, the apex of the previous symmetrical triangle. Otherwise, PEPE will continue to trade within the symmetrical pattern for a longer period.
According to AMBCrypto analysis, technical indicators suggest a breakout from this accumulation phase is imminent.
PEPE's Outbreak Looks Imminent
The Accumulation/Distribution (A/D) indicator, which tracks whether traders are buying or selling, shows PEPE is in a buying phase.
This is confirmed by an upward movement of the A/D line, signaling accumulation and bullish sentiment in the market. Such activity could push the price towards the next target.
Further supporting this trend is the Relative Strength Index (RSI), which has started to rise, indicating a strong presence of buyers. With a current reading of 59.41, the RSI shows that buyers are taking control, pushing PEPE deeper into bullish territory.
RSI measures the speed and direction of price movement, and its uptrend usually signals continued strength in an asset's price.
Sharp Drop in Active Addresses Could Hinder PEPE Breakout
According to data from IntoTheBlock, the number of active addresses (AA) interacting with memecoin has decreased by 7.89% over the past week.
The AA index measures how engaged traders are with an asset and a drop like this shows reduced buying activity despite an upward price trend.
This drop in active participation suggests that the expected breakout may be delayed or lack the strong momentum needed to drive a significant price movement.
