The PEPE price chart in the last 4 hours has formed a bullish pattern, indicating that the price of this Meme Coin may be preparing to reach new highs. At the time of writing, the price of PEPE is $0.000021, down 17% from its all-time high achieved on November 14.
As a result, 1% of Token Holders are in the red zone, while 7% are at breakeven. On-chain analysis reveals how the price action of PEPE could bring all these Holders back into profit.
Technical Model of PEPE Clearly Indicates Recovery Potential
The 4-hour timeframe analysis shows that the PEPE price chart has formed a bullish flag pattern. A bullish flag pattern is a continuation pattern that indicates the cryptocurrency price may continue its upward trend after a short-term consolidation period.
The pattern includes a 'flagpole,' representing a period of price increase, followed by the 'flag,' indicating a consolidation phase, and the breakout, which occurs after the price rises above the resistance line.
As seen below, the price of PEPE is on the verge of breaking through the $0.000021 level. Once confirmed, this bullish flag pattern could lead to a significant increase beyond the all-time high of $0.000025.
4-hour price analysis of PEPE. Source: TradingView
This prediction is also consistent with the position of Global In/Out of Money (GIOM). The global GIOM metric groups wallet addresses into clusters based on the price levels at which they previously purchased their assets.
Larger clusters indicate strong support or resistance at that price point, as they represent areas where many investors are located. According to IntoTheBlock data, only 3,940 addresses hold 2.76 trillion Tokens, and those accumulating around $0.000023 are currently at a loss.
Considering weak resistance and strong support, PEPE's price may rise. In short, on-chain metrics suggest that the value of this Meme Coin could increase to $0.000041.
Pepe Global/In Out of Money. Source: IntoTheBlock
PEPE Price Forecast: First Target at $0.000032
On the daily price chart of PEPE, this Token seems to have followed a similar movement with a 250% increase around March. At that time, the frog-themed Meme Coin broke out of a downtrend channel.
From September 29 to the first week of November, PEPE traded within a downtrend channel. Although it has broken that channel, the image above suggests that the value of this Meme Coin could rise higher.
Daily Analysis of Pepe. Source: TradingView
If this occurs, the value could rise to $0.000032, potentially reaching $0.000041. On the other hand, if selling pressure increases, this may not happen. Instead, PEPE could drop below $0.000015.
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