- Pepe forms a cup and handle pattern with projections targeting a potential 40X rally.
- Whale wallets accumulate trillions of PEPE, reducing exchange supply and fueling speculation.
- Strong buy-side dominance and key resistance levels signal possible breakout toward higher targets.
Pepe (PEPE) is showing a chart formation that mirrors earlier setups preceding parabolic rallies. Market watchers are asking: Is Pepe about to do it again? The chart shows a cup and handle pattern forming at the bottom of its ascending channel. If the formation holds, projections indicate a potential 40X rally from current levels.
Cup and Handle Structure with Fibonacci Alignment
The Pepe chart tracks movement within parallel ascending channels, producing consistent higher lows and higher highs. According to analysis prepared by CryptoElites, the most recent cycle formed a bottom near 0.00000850, aligning with the lower channel trendline. This level matches earlier support areas where sharp rallies began.
The chart now displays a clear cup and handle pattern, a structure that preceded earlier parabolic pumps. If the setup completes, projections based on Fibonacci extensions and channel measurements suggest a target near 0.00039970, representing nearly a 40X move. Historical data shows Pepe often rebounded from 23.60% and 61.80% retracement zones, with each bounce producing strong upside momentum.
The price is currently consolidating around 0.00001045, holding above the 0.00000950 support zone. Short-term resistance appears near 0.00001150 and 0.00001250, while stronger barriers remain at 0.00001300. This technical structure suggests room for trend continuation if market support holds.
Market Data and Whale Accumulation
According to data from Coingecko, Pepe maintains a $4.49 billion market capitalization, with identical fully diluted valuation. Circulating supply is fixed at 420.69 trillion tokens. Over the last 24 hours, trading volume reached $364.67 million, showing steady participation across exchanges.
Source: Coingecko
On-chain activity indicates whale wallets have been accumulating during recent consolidation phases. Whale Alert confirmed a 2.3 trillion PEPE transfer valued at $25 million from Robinhood to an unknown wallet. Such moves often suggest reduced exchange supply and possible holding behavior.Additionally, CryptoQuant reported Spot Taker CVD data showing strong buy-side dominance over the last 90 days. According to Nehal’s observation, current consolidation aligns with resistance levels near 0.00001888, 0.00002167, and 0.00002596, projecting potential gains of 121.07%.
