According to Chandler, a crypto analyst, the current setup of the Pepe price chart pattern suggests a massive rally in the coming weeks, similar to its bullish performance in April 2024.
Previously, in mid-April 2024, the Pepe coin ($PEPE) rose from approximately $0.0000050 to $0.000016 by late May, resulting in a price increase of about 220%, or doubling its value, in roughly 30 days.
RSI Pattern Mirrors 2024 PEPE Price Surge
Chandler has pointed out a strong setup for PEPE, similar to its 226% increase in April 2024. He shared a chart showing that PEPE’s Relative Strength Index (RSI) is close to breaking above its downward trendline, a pattern that often leads to a significant price rise.
As the analyst showed in the chart, the RSI breakout in April 2024 was a key signal that preceded PEPE’s rapid price increase. The RSI is close to breaking out again, suggesting that PEPE could experience a similar price jump.
The price structure in the blue boxes shows a similar accumulation and breakout pattern, reinforcing the bullish potential.
If PEPE breaks above key resistance, it could quickly rise toward its previous highs and even exceed its all-time high from December 2024. However, if it fails to break out, PEPE could stabilize further or pull back before trying again.
Similarly, Crypto analyst Slick (@SlickXBT) has identified a potential bullish reversal in PEPE after the price attempted to reclaim the 800 EMA (Exponential Moving Average) in the 15-minute timeframe.
Since January 19, this level has acted as strong resistance, making this breakout attempt crucial for the stock’s trend direction.
The 800 EMA is a long-term moving average that defines overall trends on shorter timeframes. PEPE’s consistent trading below this level for almost a month showed ongoing bearish pressure.
However, the merging of several EMAs now hints at a change in momentum, as Slick mentions that this attempt seems stronger than earlier attempts.
If PEPE can break and stay above the 800 EMA, it might confirm a short-term trend change, potentially leading to stronger moves on longer timeframes.
But, if it can’t hold this level, it may face another setback, extending bearish sentiment.
Can PEPE Coin Hit $1 in 2025?
The Pepe memecoin is currently trading at $0.00001014, a 64.14% drop from its highest price of $0.00002825 on December 9, 2024. According to CoinMarketCap data, the coin has increased by 95,319,101.55% from its lowest price of $0.00000000001062 recorded in April 2023.
Pepe is the 29th largest coin by market capitalization, worth over $4.25 billion. Its maximum supply is 420.69 trillion coins. For Pepe coin to reach $1, its price would need to rise by about 9,858,085.29%, or roughly 98,585.85 times its current price.
While it may sound exciting to think that the price could rise from $0.00001014 to $1, several reasons suggest this is unlikely. One key reason is the high total supply of coins.
With over 420 trillion coins available, reaching $1 per coin would mean a total market value of $420 trillion, much higher than the current total of the cryptocurrency market, which is $3.23 trillion.
READ MORE: Pi Network Mainnet Launch is Here: Pi Coin Price Faces Risks
