The PEPE price is currently trading within a Falling Wedge pattern, a historically bullish indicator that suggests an imminent breakout. A crypto analyst predicts that a decisive move above key resistance levels could trigger a 150% rally towards new all-time highs for PEPE.   

Key Resistance To Ignite PEPE Price Rally

Over the past few weeks, Pepe, the popular frog-themed meme coin, has been stuck in a downtrend, consistently rejecting off of a descending resistance trendline. The meme coin had initially experienced significant gains earlier this year. However, with the recent volatility and the decline in the broader market, PEPE and many other cryptocurrencies have recorded severe losses. 

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Despite the bearish performance, a pseudonymous TradingView analyst called ‘MyCryptoParadise’ has shared a bullish forecast for the PEPE price. The analyst projects that it could experience a massive 150% price surge, pushing it to $0.00003 and marking new all-time highs. 

For this prediction to become a reality, Pepe will have to confirm a price reversal by breaking above the descending resistance and claiming a new support, as seen on the chart. The TradingView analyst has asserted that Pepe must surpass the $0.000015 resistance, claiming it as new support and a potential launch pad to the bullish $0.00003 target. 

While breaking above a key resistance may seem like an easy feat, the PEPE price has failed to do so over the past few weeks. The meme coin has rejected multiple breakout attempts; however, technical indicators reveal that Pepe’s current price fundamentals remain bullish.

Notably, Pepe is trapped inside a Falling Wedge on its price chart, a pattern known to precede significant upward momentum once resistance is broken. If demand from buyers successfully pushes PEPE above its $0.000015 resistance level, the analyst believes that a parabolic rally may be in store for the meme coin. 

Pepe also forms a bullish divergence on the histogram in its chart, signaling a possible shift in momentum to the upside. The analyst has indicated that for Pepe to reach its projected ATH target, bulls will have to take control, helping to push the meme coin above the Falling Wedge pattern.  

Currently, the asset is sitting at $0.000006 and $0.000012, where buyers have historically stepped in to defend prices and avoid further breakdowns. A surge from its current price of $0.00000945 to $0.00003 would represent an over 150% increase. 

Bearish Scenario Unveiled

While he shared his bullish projection for the PEPE price, the TradingView analyst also presented an alternative bearish outlook for the meme coin. The analyst urged traders to remain cautious, as failing to hold the $0.000006 and $0.000012 could invalidate the previous bullish setup. 

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The analyst predicts that if the meme coin fails to break this zone, it could trigger increased downside pressure, exposing the meme coin to more risks and possibly triggering a deeper sell-off that would put bears in complete control.

Featured image from LinkedIn, chart from Tradingview.com

The PEPE price recently reached a new all-time high (ATH) of $0.00002716, becoming the first major meme cryptocurrency to do so in the ongoing bull cycle. This rally to a new PEPE all-time high was driven by increased whale activity and accumulation.

Whale Accumulation Fuels PEPE’s Bullish Momentum

Data shared by crypto analyst Ali Martinez on social media platform X highlights that PEPE whales recently added $1.14 billion in PEPE to their holdings, pushing the total whale-controlled amount to $7.56 billion. This plays into a bullish run over the weekend, which saw PEPE’s market cap surpass $10 billion for the first time. At the time of writing, PEPE has a market cap of about $11.17 billion, meaning this holder cohort now controls about 67% of the total market cap.

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Interestingly, on-chain data shows the surge in whale accumulation didn’t just start yesterday. IntoTheBlock’s Balance By Holdings In USD metric shows a 30-day increase of 147.81% in the holdings of addresses holding more than $10 million worth of PEPE tokens. These large holders have been on an accumulation trend, with a massive $1.14 billion purchase coming in on December 7 alone. 

Other holder cohorts have also significantly expanded their positions over the past month. Addresses holding between $1 million and $10 million worth of PEPE recorded a 119% increase in their holdings during this period, while those holding between $100,000 and $1 million saw a 108% rise. Mid-tier investors with holdings between $10,000 and $100,000 registered an 84.25% growth in their balances, while even smaller holders with $1,000 to $10,000 worth of PEPE saw their holdings increase by 55.29%.

This increase in accumulation from all cohorts has increased the buying pressure on PEPE, which in turn has allowed the meme cryptocurrency to surge in value by 150% in the past 30 days.

Exchange Listings And Accessibility Boost PEPE’s Popularity

Another notable driver behind PEPE’s record-breaking performance is its growing accessibility after listing on major crypto exchanges. PEPE has been added to crypto exchanges like Coinbase, Robinhood, and Binance US in the past few days, which has significantly increased its exposure to retail and institutional investors in the US These listings have made it easier for a broader audience to trade and invest in the meme cryptocurrency.

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The impact of these listings has been profound, especially as the industry is currently in a bull phase. At the time of writing, PEPE is trading at $0.00002616, representing a 3.5% increase in the past 24 hours. PEPE’s bullish trajectory appears set to extend further as whale and retail accumulation continues.

Featured image created with Dall.E, chart from Tradingview.com

The cryptocurrency market has experienced a volatile week, following Bitcoin price hitting an all-time of $93,434.36, then dropping to $87,000, before beginning a recovery. BTC has been trading between $86,682.82 and $90,677.18, causing shockwaves in the entire market. Some top altcoins including Ethereum have also dropped in their values. In spite of these changes, certain alternative cryptocurrencies showed remarkable success. Included in the group are Pepe (PEPE), Dogecoin (DOGE), Brett (Based) (BRETT), and Bonk (BONK), all of which exhibited resilience and remarkable increases.

Best Crypto Performers of the Week

1. Pepe (PEPE)

PEPE, a frog-themed cryptocurrency, is continually rising in value, driven by its popularity among the crypto community that loves memes. Pepe continues to be one of the most active and volatile tokens in the meme coin category with a market cap exceeding $9.08 billion.

The meme coin has seen a massive 4,479% surge in whale inflows, indicating confidence among large holders. The influx of funds has pushed PEPE prices to new highs. A significant movement involved 506 billion PEPE worth $11,405,224 transferred to Robinhood.

With Robinhood listing PEPE, institutional buying may be driving the surge, with PEPE Price rising nearly 250% from its recent low.

2. Dogecoin (DOGE)

As the pioneering meme coin and the largest by market cap, Dogecoin (DOGE) still maintains its popularity in the cryptocurrency sphere. Over the past week, Dogecoin’s price increased by 87.67%, and today, it is traded at $0.3725.

DOGE has a market cap of $54.68 billion and a 24-hour trading volume of $14.66 billion, making Dogecoin one of the best meme coins to buy, for retail and institutions due to its strong liquidity. This crypto’s 90-day growth of 263% highlights the increased positivity surrounding it.

3. Minotaurus (MTAUR)

Presale Price: $0.00005982 USDT

Minotaurus, a blockchain gaming project, is gaining attention, among gaming tokens as it combines engaging gameplay with strategic elements. Its token, MTAUR, is deeply integrated into its ecosystem, enabling features like avatar customization, special zone access, and power-ups.

Currently, in its presale phase, Minotaurus is priced at $0.00005982 USDT, offering a 70% reduction from its upcoming listing price of $0.00020 USDT. Early participants have already seen a 50% growth, with more potential upside once the token lists.

Minotaurus also emphasizes security, with its smart contract passing audits by SolidProof and Coinsult. The project’s referral and vesting programs drive community engagement, allocating 10% of tokens to foster a loyal user base.

Positioned in the $15 billion casual gaming market, Minotaurus is attracting attention for its strong fundamentals and strategic focus.

3. Brett (Based) (BRETT)

Brett (Based) is proving to be a rising star in the meme coin and community-driven category. Despite its relatively smaller market cap of $1.67 billion compared to other major players, Brett recorded a 77.57% increase this week.

Its unique branding and connection to niche communities have helped drive organic growth. Brett’s 114.53% growth over 90 days highlights its potential to challenge more established meme coins.

4. Bonk (BONK)

Bonk, one of Solana memecoins, has become a household name among crypto enthusiasts this week. Its 71.62% increase in price over seven days reflects robust interest and significant trading activity. With a market cap of $2.87 billion and a 24-hour trading volume of $1.26 billion. BONK thrives in the Solana ecosystem, leveraging its speed and scalability.

Final Thoughts: Opportunities in Top Crypto Performers

This week’s crypto market spotlight highlights the diversity of opportunities available, from meme tokens like Pepe and Dogecoin to innovative projects like Minotaurus. While Pepe and Dogecoin reflect the enduring power of community-driven momentum, Brett and Bonk showcase the evolving appeal of niche ecosystems. Minotaurus stands out with its unique integration of blockchain gaming and community-focused tokenomics.

As the market shifts, these top crypto performers exemplify how various strategies, communities, and use cases can lead to remarkable growth in the crypto space.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.