PEPE Coin Targets $0.000016 After Bullish Breakout from Falling Wedge Pattern
Published at：2025年07月03日 22:30
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After weeks of volatile trading, the meme cryptocurrency PEPE is demonstrating renewed technical strength. A crypto analyst recently highlighted on social media that PEPE's price has successfully broken above a falling wedge formation - a potential bullish signal that could spark a new short-term rally.
Chart analysis shows PEPE has penetrated the upper boundary of a falling wedge pattern that had constrained its price movement since mid-May. This descending channel had contained progressively lower highs and lows over a seven-week period.
The breakout occurring in early July now suggests a possible retest of the $0.000016 resistance level, which marked PEPE's previous peak in mid-May. Analysts indicate that sustaining momentum above the wedge's upper trendline could see this target achieved swiftly.
Derivatives market data supports this optimistic outlook, with open interest surging 19.37% to $559.75 million. The long/short ratio stands at 1.0263, with $3.13 million in short positions liquidated versus $269,490 in long positions - indicating growing bullish sentiment.
Beyond this short-term outlook, analysts note the Q2 rally broke a long-term descending trendline dating back to late 2023. Despite May's sell-off, PEPE successfully defended its April lows, maintaining the broader bullish structure. A confirmed close above $0.000016 could pave the way toward testing 2024's peak around $0.000028.
Key on-chain metrics show promising signs of recovery, with whale transaction volumes beginning to rebound after declining since mid-May. Sustained improvement in these indicators could provide further momentum for PEPE's long-term uptrend.
Market analysts emphasize that while PEPE may see significant price movements, expectations of reaching $1 remain unrealistic due to its enormous circulating supply of 420 trillion tokens. The meme coin's long-term viability continues to depend on community engagement and cultural relevance within the cryptocurrency space.
Chart analysis shows PEPE has penetrated the upper boundary of a falling wedge pattern that had constrained its price movement since mid-May. This descending channel had contained progressively lower highs and lows over a seven-week period.
The breakout occurring in early July now suggests a possible retest of the $0.000016 resistance level, which marked PEPE's previous peak in mid-May. Analysts indicate that sustaining momentum above the wedge's upper trendline could see this target achieved swiftly.
Derivatives market data supports this optimistic outlook, with open interest surging 19.37% to $559.75 million. The long/short ratio stands at 1.0263, with $3.13 million in short positions liquidated versus $269,490 in long positions - indicating growing bullish sentiment.
Beyond this short-term outlook, analysts note the Q2 rally broke a long-term descending trendline dating back to late 2023. Despite May's sell-off, PEPE successfully defended its April lows, maintaining the broader bullish structure. A confirmed close above $0.000016 could pave the way toward testing 2024's peak around $0.000028.
Key on-chain metrics show promising signs of recovery, with whale transaction volumes beginning to rebound after declining since mid-May. Sustained improvement in these indicators could provide further momentum for PEPE's long-term uptrend.
Market analysts emphasize that while PEPE may see significant price movements, expectations of reaching $1 remain unrealistic due to its enormous circulating supply of 420 trillion tokens. The meme coin's long-term viability continues to depend on community engagement and cultural relevance within the cryptocurrency space.
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PEPE
cryptocurrency
falling wedge
price analysis
meme coin