$PEPE

Could Pepe Coin Price Really Explode 100% After FOMC Meeting?

Key Points: PEPE's price, currently testing the lower trendline of a rising wedge pattern, has the potential to rebound 100% to $0.00002205.

Large investors continue to hold substantial supplies of PEPE despite the recent price correction.

The likelihood of PEPE rising more than 100% increases amid rising expectations of an interest rate cut in September.

Pepe Coin Price Prediction: Rising Wedge Pattern Increases 100% Recovery Potential On June 11, PEPE price was testing its predominant rising wedge lower trend line as support, aiming for a rebound towards the upper part of the trendline pattern in the coming days.

For the unversed: Rising wedges are typically bearish reversal patterns characterized by two ascending and converging trendlines.

In a perfect scenario, these patterns resolve when the price falls below the lower trend line while tracking an increase in trading volume – and falls as much as the maximum distance between the top and bottom trend line.

PEPE's retest of the wedge's lower trendline tracks falling volumes, indicating that a breakdown – for now – is not imminent.

Instead, memecoin could see a rally towards the upper trendline coinciding with the 2.618 Fibonacci retracement level of $0.00002205, rising by around 100% from current price levels.