On Thursday, March 27th, the crypto market recorded low volatility evidenced by the Bitcoin neutral candle in the daily chart. This uncertainty can be attributed to the 25% tariff by United States President Donald Trump on all foreign-made cars. Despite the stall in recovery momentum, the crypto whales showed renewed interest in the Pepe coin, as its price teased a major breakout from a bullish reversal pattern.
Key Highlights :
- A potential breakout from wedge pattern resistance will signal the end of a 100-day downtrend,
- A V-shaped recovery in Pepe coin price backed by sufficient trading volume signals a sustained recovery for a bullish breakout.
- Onchain activity indicates large-scale investors are re-accumulating Pepe Coin, with a newly created wallet withdrawing 500B PEPE from Binance.
Whale Activity Drives Pepe Coin Price Surge
Over the past two weeks, the Pepe coin price showed a V-shaped recovery from the $0.00000525 low to the $0.0000085 current trading value, registering a 62% growth. The bullish upswing backed by sufficient trading volume and accumulation from large-scale investors hints potential for a higher rally.
According to blockchain tracker Spotonchain, a newly created wallet withdrew 500B PEPE ( worth approximately $4.3 Million) from the centralized exchange Binance.
Interestingly, this move comes just hours after a known whale, qianbaidu.eth, made a similar transaction. The early PEPE investor, who once realized a $7.34M profit (+110%), withdrew 506.2B PEPE—worth about $4.4 million—from Binance. This occurred around 10 hours before the new wallet activity was spotted.
Following the withdrawal, qianbaidu.eth’s portfolio now holds 699.8B PEPE valued at $5.11 million, with a floating profit of $164K.
Pepe Coin Challenges A Major Pivot Level
By the press time, the Pepe coin price trades at $0.0000085 and holds a market cap of $3.58 Billion. An analysis of the daily chart shows this memecoin is less than 1% short of challenging the resistance trendline of the falling wedge pattern.
Since December 2024, the PEPE coin has actively bounced from the pattern’s two converging trendlines, accentuating its credibility and influence on price movement. A successful flip of the overhead resistance into potential support will pave the way for a 72% rally and challenge the immediate resistance $0.0000147.
These will signal a change in market dynamics and bolster crypto buyers to chase higher ground of $0.000021, followed by $0.000028.
On the contrary note, the upper boundary stands as a major resistance for the PEPE price as the previous reversal with the wedge pattern led to a 50-60% downfall. Thus, if the sellers continue to defend the resistance trendline, the frog-themed memecoin could receive prolonged correction.
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