Analysts are pointing to a medium-term pennant formation as a signal that $PEPE could break out strongly soon.The price of Pepe Coin has dropped by 2.5% in the past 48 hours, retreating to $0.00001016 as the crypto market falls by 3.5% today.its current trading price is $0.00000987.
PEPE is now down by 4% in a week, with the meme token holding on to a 23% increase in a month and an impressive 1,350% increase in a year.These moves come as whales have been accumulating PEPE, with some analysts beginning to suggest that it could target a market cap of $25 billion.This is likely a best-case scenario, but with PEPE outperforming most other major tokens this year, it could be one of the biggest beneficiaries of the coming bull market.
Pepe Coin Breakout Imminent? $25 Billion Market Cap and 60% Gains in Sight According to Analysts While today may be a disappointment for Pepe perma-bulls, its woes at least put it in a position where it could rebound very soon.Its indicators suggest itâs close to a short-term bottom, with its 30-period moving average (orange) about to fall below the 200-period today.
