• Exchanges have recorded an outflow of PEPE worth $161.36 million.
• Traders are over-leveraged at $0.00001446 on the lower side and $0.00001542 on the upper side.

Since December 2024, Pepe [PEPE], the popular crypto memecoin, has experienced a price decline of over 45%, and appeared to be struggling at press time.

The current market outlook is insufficient to reverse PEPE’s market trend, as major cryptocurrencies, including Bitcoin [BTC] and Ethereum [ETH], are facing similar challenges.

Based on the daily chart and on-chain metrics, PEPE’s downtrend appeared to be nearing a reversal.

PEPE price prediction 

According to AMBCrypto’s technical analysis, PEPE has been in a continuous price decline over the past few weeks, and has formed a bullish falling wedge pattern on its daily time frame.

The falling wedge pattern is similar to the descending channel pattern, but its width narrows after a certain period.

The memecoin was at the lower boundary of this pattern, where it has historically shown an impressive reversal.

Since December 2024, PEPE has reached this boundary more than four times, and each time it has shown an upward momentum.

If PEPE holds this lower boundary of the falling wedge, there is a strong possibility that it could soar by 30% to reach the $0.000019 level in the coming days.

THIS is strengthening PEPE

However, the current level is supported not only by the lower boundary of the pattern but also by the 200 Exponential Moving Average (EMA) on the daily time frame, which str

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Author: Vivaan Acharya

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