$PEPE whales' buying spree could trigger a 55% rally. Pepe price is showing signs of a potential reversal as it retests a falling resistance level.

A successful breakout could spark a 56% rally as whales continue to accumulate on dips.

A break of the $0.00000881 support level will invalidate the bull thesis for meme coin.

Pepe's (PEPE) recent price action suggests that its consolidation is coming to an end, but an exit confirmation is needed before PEPE moves higher. While the bullish outlook may seem encouraging, there are many considerations investors need to understand before buying this meme coin on dips.

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Pepe price has traded between $0.00000581 and $0.0000109 for about seven weeks. This consolidation produced a deviation from the lower end of the range and was followed by a rapid recovery above the lower end of the range. Moving forward, investors can expect the lower bound of the recently flipped range to serve as a support floor and initiate the next uptrend.

So far Pepe price is hovering above the lower end of the $0.00000896 range and is showing signs of an early increase in buying pressure. If this bullish momentum is sustained, investors can expect PEPE to retest the falling resistance level and surpass the resistance level connecting the lower highs formed since March 14. This move will serve as confirmation of a breakout and initiate Pepe price reaching the midpoint of the range at $0.00000900.

If the buying spree continues, Pepe price could reach the upper end of the range at $0.0000109, marking a gain of 56%. #binancesuquare #binancesuquare