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Pepe is taking center stage in the meme coin market as it pumps over 14% in the last seven days, currently priced at $0.000001379.
Meanwhile, Sponge is also showing strength, having increased by 3.74% this week and 41% this month.
Pepe nears breakout
After pumping over 25% this month, Pepe is flirting with a critical breakout level that could catapult it toward its all-time high.
Following a trend line resistance breakout, Pepe is approaching its range high between $0.00000172 and $0.00000184.
Meanwhile, its price action around the range support has formed an inverse head and shoulders pattern, a tell-tale reversal signal that could spell bullish momentum.
With Pepe potentially gearing for a breakout, market analyst MaxBecauseBTC suspects that it “has the highest probability of being this cycle’s “why didn’t I buy it” bag.”
Max referenced Dogecoin and Shiba Inu’s price charts from the last bull run, noting that both formed similar patterns to Pepe’s current trajectory and then advanced to $50 billion market caps.
From Pepe’s current market cap of $580 million, this provides room for a 86X surge.
Meanwhile, Pepe’s near-term price action also looks promising.
As per Ava_Cryptoo’s TradingView analysis, Pepe recently broke a falling wedge, often signifying a reversal to the upside.
Ava says Pepe will advance toward the range high, targeting $0.00000162.
Meanwhile, Ali Martinez, who goes by Ali_Charts on X, also backs Pepe to climb beyond $0.000006.
Ali references the head and shoulders pattern, suggesting it will initially reach $0.0000066, followed by a breakout and move toward $0.00000274.
Author: Guest Post
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