Pepe Price Is On The Verge Of 200% Breakout, Analyst Weighs In

Pepe price has been in a bullish rally in the last 24 hours with the price swaying between an intra-day high and low of $0.00001093 and $0.000009302, respectively.

Consequently, Pepe price has captured attention as it consolidates within a symmetrical triangle, positioning itself for a potential 200% breakout, according to crypto analysts.

As of press time, PEPE was trading at $0.00001051, a 12% surge from the support level. 

Pepe Price On The Verge Of 200% Breakout?

PEPE price is currently trading within a symmetrical triangle pattern, which suggests a balance between buyers and sellers.

This pattern, marked by converging trend lines, often leads to a breakout once the price escapes the triangle’s confines. 

According to analyst World of Charts, this setup indicates that the price could soon make a decisive move, potentially leading to a 200% surge if it breaks through the upper resistance.

The recent rally in Pepe price has placed many holders in profit, with data from IntoTheBlock showing that around 72% of holders are currently “in the money.” This increase in profitability reflects the growing bullish sentiment within the Pepe community, which has helped sustain the price within the consolidation phase.

Analysts emphasize that a breakout above the resistance line, accompanied by high trading volume, would confirm the bullish scenario for PEPE price.

Whale Accumulation Drives Community Optimism

Large holders, often referred to as “whales,” have shown increased interest in Pepe, with several significant withdrawals from major exchanges.

Notably, whale addresses have moved hundreds of billions of Pepe tokens off exchanges, suggesting that they are holding these tokens in anticipation of a price rise.

One whale alone reportedly withdrew 535.81 billion Pepe tokens, worth over $5 million, from Binance.

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