Pepe Coin (PEPE) Rallies 60% in 4 Days as Bulls Target $0.000022

Pepe Coin (PEPE) has gone up 60% in the last 4 days and hit a high of $0.00001264. With Ethereum at $2,400, the meme coin is looking to break out to $0.000022.

Pepe Coin price is rising rapidly as it breaks key resistance levels and experiences massive whale accumulation, setting the stage for a potential move to $0.000022.

Pepe Coin (PEPE) has surged by 60% over the past four days, breaking through a crucial resistance level and enlisting the support of whales, setting the stage for a potential continuation of the bull trend.

Technical Breakout Signals More Upside

After breaking out of a bullish triangle, PEPE has surged by 137% from the March 11 low of $0.00000525. This move took out the 50% Fibonacci retracement at $0.00001222, a level not seen since early February.

However, with the 1.618 Fibonacci extension at $0.00001116 now providing support and the MACD showing signs of flattening, we might be seeing the beginning of a short-term pullback.

A retest of the 1.618 Fibonacci extension would be a healthier base for the next upward move, especially if PEPE fails to break above the 2.618 Fibonacci extension at $0.00001337.

This would also create a triple bottom pattern at the 1.618 Fibonacci extension, further indicating a potential rebound.

Source: FX EMPIRE

Whale Accumulation Signals Strong Support

Adding fuel to the fire, big holders have been accumulating over 10T PEPE in the last 48 hours, according to IntoTheBlock.

This level of whale support usually signals their belief in a continuation of the bull trend and their willingness to invest further.

With this amount of attention from major players and the recent breakout, we can expect to see even bigger price moves in the coming days or weeks.

As the saying goes, “motives become clear through actions.” The actions of whales and the magnitude of their recent activity strongly suggest that we can anticipate further increases in Pepe Coin’s price.

This is especially pertinent given the substantial price appreciation observed during the past three months, which has been accompanied by minimal participation from large holders.

Now, however, with whales making significant additions to their holdings, the stage is set for a final and potentially substantial move upward.

Retail Interest Surges

In addition to the massive whale activity, we’re also seeing a surge in retail interest, with active addresses increasing by 100% to 5,030 and 1,600 new wallets joining the network in the last 24 hours.

And finally, Binance traders are bullish, with 66% of traders going long and the long-to-short ratio at 2.

With this level of whale support, retail interest and bullish technicals, we could see a run to the 161% Fibonacci extension at $0.000022.

Trade Idea:

Enter long above 200 SMA, target 2.618 Fibonacci extension at $0.00001337, stop below 1.618 Fibonacci extension at $0.00001116.