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Today, February 14, 2025, the overall cryptocurrency market seems to be recovering, including Bitcoin (BTC) and Ethereum (ETH), which are currently influencing other major cryptocurrencies.
$PEPE Price Momentum
Amid this bullish market sentiment, Pepe ($PEPE), the most popular and third-largest crypto meme coin, soared significantly and is on the verge of breaking out with bullish price action.
With bullish market sentiment, $PEPE is currently trading near the $0.00001022 level and has experienced a price surge of over 5% in the past 24 hours. Despite this bullish outlook, trader and investor participation seems lower, resulting in a 30% drop in trading volume.
$PEPE Price Action and Upcoming Level
According to expert technical analysis, $PEPE has formed a bullish inverted head and shoulders price action pattern on the four-hour chart. However, with the recent gain, the price has reached the breakout level.
Based on the recent price action and historical pattern, if this price rally continues and $PEPE breaches the pattern and closes a four-hour candle above the $0.0000105 level, there is a strong possibility that the meme coin could soar by 20% to reach the $0.000013 level in the future.
Another thing that traders and investors need to know about this pattern is that it has formed at a crucial support level of $0.000009, which has a history of price reversals, and which experts and analysts are currently expecting.
$10.50 Million Worth $PEPE Outflow
This bullish price action has attracted investors and long-term holders, and they seem to be accumulating the meme coin, as reported by the on-chain analytics firm Coinglass.
Data from spot inflow/outflow revealed that exchanges have witnessed an outflow of a significant $10.50 million worth of $PEPE meme coin in the past 48 hours, which hints at potential accumulation by long-term holders and investors, potentially causing buying pressure and upside momentum.