Pepe Drops 4.64% But Analysts Predict 100% Rally

Pepe's latest price was $0.05, down 4.641% in the last 24 hours. Despite the recent decline, Pepe, the third-biggest meme coin in the crypto space, is showing signs of a potential bullish breakout. A top crypto analyst has noted that the coin is forming a double bottom pattern on the daily chart, which is characterized by two lows where buyers step in to prevent further declines and a neckline. This pattern suggests that the coin could be on the verge of a significant upward movement. The analyst predicts that Pepe could double in the coming weeks, pushing its market cap from the current level to over $6 billion. Additionally, the coin has formed a triple-bottom pattern and a falling wedge pattern, both of which are bullish indicators. The Percentage Price Oscillator (PPO) and the Relative Strength Index (RSI) are also showing signs of a bullish divergence, further supporting the positive outlook for Pepe.

Despite the uncertain market sentiment, Pepe appears bullish and primed for an upward move. This optimism is reinforced by its strong price action and consistent support from on-chain metrics. The memecoin has formed a bullish double-bottom price action pattern on the daily time frame and has broken out of a descending trendline that had been acting as resistance since late March 2025. Following the breakout, the memecoin rose over 10% despite ongoing hurdles and market uncertainty. Moreover, PEPE’s price is still poised for a 20% upside move in the coming days. If this upside momentum continues and PEPE closes its daily candle above the $0.0000091 level, the rally could extend further, potentially reaching the next resistance level at $0.000014. This indicates that the memecoin still has room for an 85% upside rally.

The bullish outlook for Pepe is further supported by trader and investor activity. Data from Spot Inflow/Outflows revealed that exchanges have witnessed an outflow of $5.17 million worth of the PEPE memecoin, indicating potential accumulation. Such outflows from exchanges can create buying pressure and support a further upside rally. Additionally, 63.02% of top traders on Binance, the world’s largest cryptocurrency exchange, were going long on PEPE, while the remaining were holding short positions. Data further reveals that memecoin’s Long/Short Ratio stood at 1.70, indicating strong bullish sentiment among traders. When combining these on-chain metrics with technical analysis, it appears that the bulls are back and currently dominating the memecoin, while short sellers seem to be exhausted.

Analysts project an over 100% rally for PEPE, comparing its current structure with its October pattern, which triggered explosive surges. World of Charts highlighted PEPE’s optimistic setup on the 24-hour chart. Last week’s 20% price surge propelled the alt through crucial resistance barriers with steady trading volumes. The analyst observed a familiar pattern, where months-long consolidation precedes sudden rallies. With meme cryptocurrencies gaining traction, PEPE appears ripe for massive gains. Notably, PEPE outperformed in 2024, netting over 1,400% YoY gains. While it has lost over 60% in Q1 2025, historical setups hint at sharp breakouts, similar to its 230% surge that saw PEPE hitting $0.00002597 on 14 November 2024.