April 9, 2025 — The frog-themed memecoin Pepe Coin bounced 15.2% to reach its current trading price of $0.00000697. The buying followed a broader market uptick as United States President Donald Trump announced a 90-day pause in trade retaliation measures with 75+ countries.
With today’s price jump, the PEPE price teases a bullish breakout from the resistance trendline of the long-coming wedge pattern, signaling a change in market dynamics. Is a reversal imminent?
Whale Activity Drives Pepe Coin Price Correction
Over the last four months, the Pepe coin price witnessed a dramatic decline from $0.000028 to a $0.00000688 low, registering a 75% fall. Despite minor relief rallies, the price action has yet to signal a definitive reversal.
Adding to the bearish sentiment, on-chain data from Lookonchain reveals that a major crypto whale offloaded 723.67 billion PEPE tokens in exchange for 4.63 million DAI, signaling waning confidence among large holders.
The significant sell-off from smart money investors could intensify the ongoing correction and drive further downside momentum.
Pepe Coin Price Eyes 58% Surge Amid Wedge Formation
Amid the multi-month correction, the Pepe coin price shows the formation of a falling channel pattern. The chart setup is characterized by two converging trendlines, which act as dynamic resistance and support to price.
This memecoin bounced at least thrice from either trendline, indicating the pattern’s credibility to influence price action. With today’s price jump, the Pepe price breached the overhead trendline, signaling a change in the market dynamic.
If the potential retest candle shows sustainability above the downsloping trendline, the buyers could drive a 58% surge to challenge key resistance at $0.00001068.
However, if the retest candle dives within the wedge structure amid mounting whale selling pressure, the bullish thesis will be invalidated and bolster a continued correction in Pepe coin price.
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