Pepecoin (PEPE) has rebounded from its recent lows after seeing massive trading volumes of over $1 billion. Let’s review the latest PEPE price trajectory in this article to forecast its potential future trajectory.
According to CoinCodex data, PEPE is currently ranked 28th in the cryptocurrency rankings and third among meme coins by market cap after rising 1.6% in value compared to last week, and recording a massive trading volume of $1,628,670,111 in the last 24 hours.
PEPE Coin Price Analysis: Is It Falling Victim of a Rising Wedge Pattern?
PEPE is currently trading down 1.4% over the past 24 hours at $0.0000176 after it got stuck in a rising wedge pattern with trading volumes exceeding $1 billion yesterday, which pushed its price higher in an attempt to break through the resistance barrier of $0.00001942. However, the price failed to touch this barrier and fell significantly from yesterday’s highs, raising concerns among PEPE holders that its price movement is forming an ominous rising wedge pattern, after it got stuck in a narrowing trading range, highlighting the lack of momentum in its recent bullish wave despite the price remaining relatively stable and trying to reach higher levels over the past week.
Currently, the eyes are watching the 20-day moving average (DMA), which is currently at $0.00002020 and is declining, to see if reaching a relative stability zone could cause the price to change its course upwards and if the bulls (speculators) could regain the initiative and push it back above this critical barrier.
Despite the formation of this ominous technical pattern, the Relative Strength Index (RSI) reading - currently stable at 48 and rising - provides a glimmer of hope amidst the relative stability, suggesting the possibility of a price breakout to the upside.
Given that the price is currently in a phase of relative stability, it is much easier to predict its short-term movements, especially with the possibility of the price movements in the hourly frame forming a double bottom technical price pattern and the possibility of it triggering a move upwards within the current range.
Therefore, PEPE price could target $0.000019 (7.85% potential gain) and could drop to $0.00001728 (2.37% potential loss) in the near term, giving a short-term risk-reward ratio of 3.31, which could provide reasonable gains for short-term traders.
Future expectations:
For the year 2025, Pepe is expected to fetch an average price of $0.00001835, with a predicted high of $0.00002662 and a potential low of $0.000009546. Buying Pepe at the current price of $0.00001787 is likely to yield +3.00% in 2025.