"PEPE Memecoin's 47% Plunge: Bullish Signs Emerge Amid Accumulation Phase"

In recent weeks, Pepe (PEPE), a popular memecoin, has experienced a significant downturn, with a 47.78% loss over the past month and a further 1.89% decline in the last 24 hours. However, market developments suggest that PEPE could potentially reverse this trend, as several bullish sentiments are beginning to emerge, particularly the current accumulation phase. Despite this, some segments of the market remain bearish.

Analyzing the 4-hour chart, PEPE is currently trading within an ascending channel, a consolidation phase with well-defined support and resistance zones. At the time of writing, PEPE has just reacted off the support level and is moving towards the upper resistance level at $0.00001056. A breach of this resistance level would confirm bullish strength in the market and potentially trigger a major price rally.

If PEPE were to rally from the base of support to the peak at $0.00001477, it would record a gain of 54.22%. However, the asset may encounter resistance along the rally path at $0.00001137, $0.00001217, and $0.00001331.

Further analysis indicates that a rally is in motion, as more buyers are stepping in. Using the Accumulation/Distribution Ratio on the chart, ongoing accumulation in the market has been identified, with a potential 635.23 trillion PEPE traded at that level. This bullish sign is supported by the upward trend of the Accumulation/Distribution Ratio line. If significant accumulation occurs in the coming trading sessions, it would indicate increased buying activity, potentially pushing PEPE past major resistance levels ahead.

The Relative Strength Index (RSI) also shows buying activity resuming, with a current reading of 47.02 and the line trending upward. If the RSI crosses above 50, the presence of bulls in the market would be confirmed, further supporting the potential rally.

Exchange Netflow data from Coinglass adds to this bullish sentiment. Consistent buying activity has been observed in the spot market since the first week of 2025, with a total of $30 million worth of PEPE purchased from exchanges last week