The cryptocurrency market is buzzing as Pepe Coin ($PEPE) shows strong signs of an impending optimistic surge. Despite a recent pullback, analysts and market trends suggest that $PEPE may soon surpass its previous all-time high (ATH) and set new records.
1. Analysts predict a 31% rise to a new all-time high
Cryptocurrency experts widely predict a strong price increase for $PEPE, citing strong technical indicators. After a 23.3% drop from its yearly high, many view this decline as a consolidation phase before a breakout.
The famous trader Bluntz highlights an optimistic ABC pattern in a symmetrical triangle on the four-hour chart using Elliot wave analysis. Such formations are often signs of explosive price movements. Other analysts, including Dami-DeFi and Trader ELM, also support this outlook, predicting a significant price increase for $PEPE.
2. Whale activity and increasing demand
$PEPE has strong momentum due to increased whale activity and rising demand among traders. In the past 24 hours, the token has recorded an impressive trading volume of $5.4 billion, surpassing Shiba Inu's $1.9 billion.
The accumulation by whales further strengthens confidence in the potential of $PEPE. Recent data from Etherscan reveals a $65 million purchase of $PEPE by a whale investor, signaling strong interest from institutions and belief in the coin's bullish potential.
3. Optimistic technical indicators
On November 13, $PEPE broke through a key resistance level at $0.00001721—a level that had hindered its growth since March 27, when it recorded its previous ATH. This breakout is seen as a pivotal moment for the token, with traders expecting optimistic momentum to continue.
The breakout also aligns with the formation of a cup and handle pattern, a classic bullish indicator suggesting further price continuation. With the pullback providing a brief pause for profit-taking, the setup appears ready for PEPE to rise higher.
4. Bright outlook for $PEPE
The convergence of technical analysis, whale accumulation, and increased trading volume creates a promising outlook for $PEPE. Analysts predict a price increase of 31% to the previous ATH, with greater growth potential if momentum continues.
For investors and traders, PEPE presents an attractive opportunity as it positions itself as a leader in the meme coin market. With strong fundamentals and technical signals, PEPE is a notable coin in the coming days.
