PEPE, the popular memecoin, has been making waves in the crypto market, with a potential 20% rally on the horizon. Following its listing on the Japanese cryptocurrency exchange Bitflyer, PEPE has seen significant outflows from exchanges, indicating potential accumulation by whales and long-term holders. This development, coupled with a bullish sentiment from traders and investors, could drive a further price rally for the frog-themed memecoin.

On-chain analytics platform CoinGlass revealed that exchanges have seen outflows of approximately $10.15 million in PEPE memecoins over the last 48 hours. This substantial movement has the potential to create buying pressure and fuel a price rally. Additionally, the TD Sequential indicator has been flashing a buy signal for PEPE on the 3-day chart, further suggesting a potential price rebound.

At the time of writing, PEPE was trading near $0.00001353, following a 5.08% hike in the last 24 hours. The memecoin's trading volume jumped by 101% to $1.43 billion over the same period, outpacing major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

Technical analysis suggests that PEPE has regained its strong support level of $0.000013, which it lost during the most recent price correction. However, it currently faces resistance from the 200 Exponential Moving Average (EMA) on the daily timeframe. If PEPE maintains support above $0.000013, historical trends hint at a potential 20% rally towards $0.0000164.

Market sentiment appears to be recovering, which could support PEPE's price rebound journey in the long term. As the memecoin continues to gain traction and attract investor interest, the likelihood of a 20% rally becomes increasingly plausible.