- PEPE Confirms W-Pattern, Signals Bullish Breakout
- Whale Holdings Surge to 172T as Supply Shrinks
- MACD Bullish Crossover Boosts Momentum Outlook
Pepe (PEPE) is drawing renewed market attention after forming a double-bottom “W” pattern on the 90-day chart. The memecoin has rebounded sharply from a recent low of $0.000005860 and is now trading near $0.00000784, posting a 6.13% daily gain. Supported by surging trading volume and strong technical structures, PEPE is positioning for a potential breakout.
Double Bottom Pattern and Harmonic Structure Fuel Bullish Outlook
PEPE’s chart shows a distinct W-shaped double bottom, a pattern often linked to bullish reversals. This structure is forming alongside a falling wedge, further strengthening the current setup.
The price has consistently held above $0.000005860, establishing firm support for the pattern’s base. On April 21, PEPE traded above $0.0000078, signaling a potential rally continuation. A Bearish Gartley harmonic pattern is also developing, which traditionally points to short-term upward moves before a reversal.
The D-point on the pattern matches $0.00000958 while stabilizing at the 78.6% Fibonacci retracement level from PEPE’s previous major price peak. If this level is reached, it would represent a 25% rise from current prices.
Whale Accumulation and Exchange Supply Support the Setup
On-chain data from CoinMarketCap shows a 55.87% surge in daily trading volume, exceeding $530 million. This increased volume reflects rising trader participation and growing optimism.
At the same time, only 26.6% of PEPE’s supply remains on exchanges, a decline from 45% in late 2024. This drop suggests long-term holders are moving tokens to cold storage.
Whales have raised their holdings from 131 trillion to 172 trillion tokens.
The Mean Dollar Invested Age (MDIA) also rose from 35 to 128, reflecting strong conviction. These on-chain metrics support the argument that market participants are preparing for a move higher. With RSI near neutral levels and MACD signaling a bullish crossover, momentum is beginning to shift in favor of bulls.
