The meme cryptocurrency PEPE has rebounded from a support level of $0.00000337, gaining roughly 20% to trade near $0.00000392. Analysts note the formation of a falling wedge pattern on its weekly chart, which could signal a potential bullish breakout. Significant whale accumulation between $0.0000033 and $0.0000035 is also strengthening market support for the asset.
PEPE is showing renewed upward momentum after bouncing from a key support zone around $0.00000337. The price has formed a pattern of higher highs and higher lows as buying pressure and trading activity have increased.
Analyst STEPH IS CRYPTO highlighted that PEPE’s weekly chart features a strong falling wedge, a common precursor to a bullish reversal. The analyst stated that a confirmed breakout above the wedge’s resistance could target a price near $0.00003.
Another analyst, Unicharz, pointed out that large holders have been accumulating trillions of PEPE tokens around the $0.0000035 level. This aggressive buying has helped defend the $0.0000033 support zone, indicating growing confidence from major investors.
The token now faces resistance at the $0.0000040 mark as its price compresses within the wedge pattern. Market observers are watching the $0.000003 to $0.0000035 support area for signs of the next significant price movement.
