Pepe Coin Surges 0.112% Amid Large Trades, Trade Optimism

Pepe's latest price was $0.00001365, up 0.112% in the last 24 hours. The frog-themed meme coin has been garnering significant attention due to its recent market activity and investor interest. The coin has experienced a notable increase in trading volume, with smart-contract trades reaching a substantial amount in derivatives, marking a significant increase from the previous day. This surge in activity has drawn the attention of on-chain analysts, who have observed that a single large wallet added a considerable amount of PEPE tokens, bringing the total holdings of this whale to a significant figure. Such large transactions can drive prices higher but also spark sudden sell-offs, making the market volatile.

On-chain indicators for PEPE have presented mixed signals. While the Chaikin Money Flow on the PEPE/USDT pair went positive, suggesting cash is flowing back into the coin, network growth indicators remain down. Fewer new wallets are entering the PEPE market, indicating that the rally might be more fueled by large traders swapping bags rather than new users piling in. This dynamic underscores the importance of monitoring large transactions and market sentiment for PEPE.

The overall supply of PEPE is around 420 trillion tokens, which is a massive amount. Even a fraction of that selling off could swamp exchanges, making it crucial for investors to keep an eye on supply overhang. Coins with tighter supplies do not require as much buzz to maintain their price, and the large supply of PEPE means that big gains can turn just as quickly. This supply dynamic adds an additional layer of risk for investors in the PEPE market.

Bitcoin's surge has also fueled retail interest in the market, which could drive PEPE higher if traders believe that the meme rally has legs. However, this also increases the risk of a sharp pullback if Bitcoin loses steam. The price action on meme coins like PEPE can fluctuate wildly, and large volumes and whale purchases fuel headlines but do not always mean sustained growth. Investors should look for changes in open interest, new wallet activity, and any adjustments in Bitcoin’s price to gauge the market's direction.

Crypto analyst OneImpact has noted that the PEPE price has shown a textbook ‘Phoenix Rising’ pattern, which signals an extraordinary upside opportunity. This pattern, along with the completion of a bottoming pattern for the PEPE price, supports the bullish outlook for the meme coin. OneImpact has predicted that the PEPE price could surge, with the first phase being a consolidation period, followed by a series of higher highs and higher lows, and a final push toward the take-profit target. This setup is particularly compelling due to volume confirmation, historical context, and macro alignment.

Pepe Coin's rally has been driven by renewed trade optimism after the US and China agreed to lower tariffs. The tariff on Chinese imports will drop, while the levy on US goods will be reduced. The two countries have agreed to continue negotiations aimed at improving bilateral relations, which has raised investor optimism that US inflation will ease, increasing the likelihood of Federal Reserve interest rate cuts. This positive trade outlook has buoyed Pepe Coin's price, along with other cryptocurrencies.

Pepe Coin's price surge is in line with previous predictions that focused on the large falling wedge pattern that had formed on the daily chart. This pattern, defined by two descending and converging trendlines, typically signals a bullish breakout. Pepe also formed a double-bottom pattern around the level and has now moved above the neckline. This double-bottom is a widely recognized bullish reversal formation. However, one risk is that Pepe has become significantly overbought, with the Relative Strength Index rising. Historically, such conditions often lead to brief pullbacks as investors take profits.

If this reversal happens, the next key level to watch will be at the neckline of the double-bottom pattern, roughly below the current price. A decline to this level would still be considered bullish, forming part of a ‘break-and-retest’ setup, which is a common continuation pattern. This dynamic highlights the importance of monitoring key levels and market sentiment for Pepe Coin.