Despite a recent modest price increase, market sentiment around the memecoin Pepe (PEPE) is intensely bullish. This optimism is fueled by several factors, including a technical breakout, strong demand from traders, and a bold price prediction from a prominent analyst.
According to crypto trader James Wynn, PEPE has successfully broken out of a falling wedge pattern, a technical formation that often signals a bullish reversal. Based on this breakout, Wynn predicts that PEPE could rally by about 40% from its current price to reach a target of $0.000015. This is a significant claim, as Wynn also stated that PEPE is a "blue-chip memecoin" alongside Dogecoin ($DOGE), suggesting it has long-term staying power.
The memecoin’s price action has already confirmed a move above a descending trendline, opening the door for this potential upside. If PEPE can hold its support level at $0.00001035, the bullish outlook is expected to remain intact.
While the falling wedge breakout is a positive sign, some technical indicators offer a note of caution. The price is still trading below the 200-day Exponential Moving Average (EMA), which acts as a key resistance level and indicates that the asset is still in a long-term downtrend. Additionally, the Average Directional Index (ADX) is below the threshold of 25, suggesting that the current momentum is weak and the breakout could fail if buying pressure diminishes.
However, the sentiment among traders is overwhelmingly bullish. Data from CoinGlass shows that the Long/Short Ratio for PEPE on Binance is 2.92, meaning there are nearly three long positions for every one short position. This strong long-side bias confirms that a majority of traders are betting on a significant price increase.
September 2025, Cryptoniteuae