With a brand new steep correction within the meme coin market section, the highest memecoins are witnessing a sudden provide surge. Pepe, the frog workforce meme coin, is down by practically 1.5% over the previous 24 hours.
At the moment, it’s buying and selling at a market value of $0.000008510, with a market cap of $3.85 billion. Will this steep correction drop the third largest meme coin out there to the $0.0000050 psychological assist? Let’s discover out.
PEPE Value Evaluation
Within the 4-hour value chart, the Pepe value motion showcases a bullish breakout of a falling channel sample. Moreover, the restoration run additionally hints at an enormous breakout rally of an inverse head-and-shoulders sample.
The restoration run accounted for a value surge of practically 60% inside the previous 16 days, extending from $0.0000057 to $0.0000094. The restoration run surpassed the 200-day EMA line and has resulted in a and is teasing a possible golden crossover between the 50 and 200 EMA strains.
Nevertheless, the restoration run witnesses a minor hiccup because it reverses again to retest the 20 EMA line at $0.000008278. The short-term correction leads to a destructive crossover within the MACD and sign strains.
Thus, the momentum indicator triggers a short-term promote sign within the frog workforce memecoin. Nevertheless, primarily based on the value motion evaluation, a short-term pullback was due because the memecoin faces sturdy provide close to the $0.0000090 psychological mark.
The essential provide space is highlighted with a powerful horizontal stage. The bullish failure to maintain dominance above this mark highlights a powerful provide space limiting the bullish pattern from reaching the $0.000010 mark.
Nonetheless, with the broader market restoration, the memecoin is more likely to maintain its restoration run and witness a possible and file value surge to $0.00001237. Thus, the value motion evaluation hits an upside potential of practically 47%. On the flip facet, the essential assist stage stays the 200 EMA common line on the $0.0000080 mark.
PEPE Whales Collect Up Amid Breakout Rally
Amid expectations of a possible bullish continuation, qianbaidu.eth, an early investor in PEPE, lately withdrew 506.2 billion PEPE, value roughly $4.4 million.
qianbaidu.eth, an early PEPE purchaser who as soon as made a $7.34M revenue (+110%), withdrew 506.2B $PEPE ($4.4M) from #Binance ~10 hours in the past!
Now, the whale holds 699.8B $PEPE ($5.11M), with a floating revenue of $164K (+2.8%).
Observe @spotonchain and monitor the whale’s two energetic… pic.twitter.com/8NRljYTIBs
— Spot On Chain (@spotonchain) March 27, 2025
The whale now holds practically 700 billion PEPE, valued at $5.11 million, with a floating revenue of $164k. Notably, the investor had beforehand realized a $7.34 million revenue from their PEPE investments.
