The Pepe price has been navigating extreme volatility throughout February, with the last wave sparking a 164% surge in trading volume to $983 million—often indicative of whale activity.
While the early week saw this momentum falter, briefly sending PEPE below $0.000009, recent days have seen a steady recovery.
With today’s 0.6% gain, accompanied by a 26% decline in trading volume to $482 million, the front-running meme coin appears to be taking a breather, consolidating for its next move.
PEPE Price Analysis: What do Pepe Whales Know?
This whale accumulation could be credited to the impending breakout of a falling wedge forming since early December.
The recent decline has affirmed the pattern’s lower bound as support, marking a potential bottom.
PEPE / USDT 1H chart, falling wedge. Source: Binance.If a decisive breakout occurs, the wedge pattern sets a PEPE price target of $0.000025, representing a potential 160% advance from current levels.
However, the PEPE price still faces heavy bearish pressures, with the Relative Strength Index (RSI) trending sideways in the 30s—a setup consistent with dominant selling pressure.
From a micro stance, the recent breakout of a descending channel on the 4-hour could set Pepe on the recovery path.
PEPE / USDT 4H chart, descending channel breakout. Source: Binance.The breakout path sets the Pepe price up for a retest of the falling wedge pattern’s upper resistance around $0.000012.
While a $1 PEPE price remains distant, the meme coin is still positioned for substantial gains.
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