- PEPE forms a falling wedge pattern, signaling a potential bullish breakout toward $0.000041.
- Whales increased holdings by 500B PEPE in a month as exchange supply fell by 2.73%.
- Futures open interest surpassed $540M, reflecting rising institutional and retail interest.
Pepe Coin (PEPE) is trading near $0.00009184 after a multi-day correction, yet key technical and on-chain signals point to a potential rally. The meme-based token is forming a bullish wedge structure, supported by whale accumulation and declining exchange balances. PEPE may be preparing for a breakout toward the $0.000041 level and beyond.
Technical Structure Aligns With Breakout Pattern
Pepe Coin has dropped 6% this week, reaching a low of $0.000009210 on June 26. However, the price action on the daily chart shows a falling wedge, a pattern known for bullish outcomes. This wedge spans from the May highs to the current range.
The falling wedge structure features two converging downward trendlines. The widest section measures approximately $0.0000049. If the breakout point confirms around $0.000009, the short-term target could reach $0.0000139. A further move could test resistance levels near $0.000024 and $0.00002836, according to Elliott Wave projections.
Solberg Invest has also pointed to a similar pattern from PEPE’s last explosive rally. Their target stands at $0.000041, which could be reached if the pattern continues repeating. This price area could align with the 40X narrative based on past cycle trends.
Whale Accumulation and Exchange Data Support the Move
On-chain data reveals increasing whale activity. According to a recent report, whales now hold 7.64 trillion PEPE, up from 7.14 trillion in May. Public wallets also added over 1 billion PEPE in the past week.
These additions indicate renewed long-term positioning. At the same time, exchange supply dropped by 2.73% to 248.2 trillion tokens. This decrease in exchange reserves often precedes supply pressure reduction and price advances.
Open interest in futures has risen above $540 million, showing growing interest from larger market players. According to an observation by Nansen, Pepe’s on-chain profile shows demand growing as supply tightens, aligning with previous breakout structures.
