Pepe price has been rangebound for over a month while the broader market pushes higher – but a Bullish Pennant pattern now hints at a breakout on the horizon, fueling a renewed Pepe price prediction.
Since early August, PEPE has dipped over 18%, yet it continues to hold firm above the key $0.00001010 support level.
In the past 24 hours, trading volume has surged, initially spiking past $500 million before climbing to over $1.1 billion at the time of writing – a sign that momentum may be shifting.
This volume surge aligns with historical patterns that previously drove the frog-themed memecoin to a massive 798% breakout.
The bullish pennant formation during Ethereum’s strong rally creates a perfect setup for PEPE to make its move.
Pepe Price Prediction: Bullish Pennant Reveals Incoming 798% Pump
PEPE is currently consolidating within a long-term ascending triangle, with price hugging the lower trendline while holding above the key $0.00001010 support zone.
The chart shows a clear resistance band just above $0.00002300, which has capped multiple previous rally attempts.
A confirmed breakout above this level could trigger a massive upside move, with the projected target extending toward $0.00009345 – a potential gain of over 790% from current levels.
However, the RSI sits around 40, suggesting weak short-term momentum, while the MACD histogram shows mild positive divergence.
The structure remains bullish as long as the ascending support line holds.
If bulls defend the base and break resistance with volume, PEPE could enter a steep rally phase toward new highs.
The last time Pepe formed a bullish pennant in November 2023, prices surged 225% within 14 days after the breakout.
It looks like PEPE whales are waking up again to repeat history.
A legendary PEPE trader has returned after 5 months of inactivity to buy $2 million worth of PEPE.
According to Arkham Intelligence data, the whale still holds 1.31 trillion PEPE at an average cost of $0.00001683.
The top 80 PEPE wallets continue increasing their holdings, meaning buyers are outpacing sellers significantly, which is a key requirement for a bullish pennant breakout.
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Click Here to Participate in the PresaleThe post Pepe Price Prediction: ‘Bullish Pennant’ Pattern Signals 798% Breakout – Daily Volume Just Shot Past $1 Billion appeared first on Cryptonews.
