by Enoch Mwathwa
Pepe coin is showing signs of recovery after falling by more than 77% from its December peak. Crypto analysts point to fundamental and technical patterns that suggest a possible bullish reversal. Key indicators such as Mean Dollar Invested Age (MDIA) and open interest levels now point to investor confidence. This report explores the data supporting the potential resurgence of the Pepe coin price.
Strong Fundamentals Support Pepe Coin Price Forecast
Modern on-chain data shows that the Mean Dollar Invested Age (MDIA) has achieved its peak point throughout this year. All coins’ purchase value determines MDIA when calculating their average age. When the Mean Dollar Invested Age (MDIA) increases, it means investors keep their tokens without any movement thereby demonstrating robust confidence in the platform.
According to Glassnode data the 365-day MDIA value of Pepe coins has continuously increased from early 2024 until now. Price rebounds usually follow such holding patterns since investors who maintain their coins across market declines usually accumulate during bear phases. The available data shows no major changes, which provides potential support for future price growth.
The data published by CoinGlass shows variations in the futures open interest numbers for Pepe. Between March 28 and the market’s downturn, the Pepe coin open interest reported maximum levels of 335 million dollars until reaching 195 million dollars. The present figures indicate that a recovery process has started. Market activity is predicted to rise when users feel more confident that prices will strengthen, according to industry experts.
Technical Analysis Suggests a Bullish Pepe Coin Price Setup
The Pepe coin’s graphical analysis shows signs suggesting an upcoming price increase is possible. The falling wedge pattern has maintained its structure since the beginning of this year. The chart pattern comprises downward-sloping lines that frequently indicate a bullish outcome.
Trading activity is now focused on $0.0000060 because it represents both the August 2023 support point and the current boundary within the falling wedge structure. This position matches up with a major double-bottom formation. Market analysts use two characteristics together to identify this bullish pattern. They recognize these pattern formations before price upticks occur when accompanied by elevated volume stats and positive market sentiment.
The market shows indications of forming both a larger pattern and a smaller double-bottom configuration. Traders closely observe the price point of $0.0000092 since it functions as the neckline of this pattern. Prices surging above this level would show potential starts for the coming bullish movement. Price movement continues to stay within the wedge formation even though momentum signals suggest a forthcoming breakout.
Analysts Indicate This May Be the “Perfect Time to Buy”
Several crypto influencers have called attention to Pepe’s current price structure. One, known as Rodney, described it as the “perfect time to buy the greatest meme coin of all time.” He cited technical signals and long-term accumulation as factors.
Another analyst with over 40,000 followers shared a chart showing early signs of a bottom. He stated that he is increasing his holdings as the price consolidates. While individual opinions vary, the technical charts and on-chain data align with their outlooks.
CoinMarketCap data shows that Pepe remains among the top meme coins by trading volume. Despite price volatility, the coin maintains strong community engagement, which plays a role in its recovery potential.
Pepe Coin Price Targets and Risk Levels
A Pepe coin price rise above $0.0000092 will lead it toward the target of $0.00001715. According to Fibonacci analysis, the target price will be $0.00001715 if Pepe coin breaks through $0.0000092 and this represents a 173% growth from present market conditions. The short-term support maintains its position at $0.00000595. A decrease below $0.00000595 makes the bullish setup unstable.
The current trend of Pepe indicates rising popularity in recent times. Both fundamental and technical indicators indicate an approaching breakout situation that enters investors into a state of vigilance.
#blockchain #crypto, #decentralized, #distributed, #ledger
