Is PEPE Ready to Repeat Its 10x Bullish Breakout Rally from 2024? Analyst Insights

Date: Wed, Jan 29, 2025, 05:57 PM GMT

The cryptocurrency market has remained under bearish pressure over the past few weeks, despite Bitcoin’s strong performance. A key factor behind this downturn is Bitcoin’s increasing dominance, which has climbed from a December 4th low of 54.74% to 59.56%, leading to significant declines in altcoins and memecoins.

Among those affected is Pepe (PEPE)—one of the top memecoins—which has suffered a 38% drop over the past 60 days. Today, PEPE continues to trade in the red, as the market faces high volatility ahead of the FOMC meeting, scheduled for 2:30 PM ET.

Source: Coinmarketcap

However, a fresh analysis from crypto expert @MaxBecauseBTC suggests that PEPE may be gearing up for a significant move.

According to analyst’s analysis, PEPE’s current price structure strongly resembles its historical movement from late 2023, a period that preceded an explosive 11x rally in early 2024.

PEPE 12H Chart/Source: @MaxBecauseBTC (X)

In December 2023, PEPE formed a local bull trap before correcting into a key demand zone known as the Monthly FVG+. The price consolidated and bottomed out on February 5th, leading to an astonishing 1,160% surge over the next 38 days, peaking on March 14th.

A similar price action pattern is unfolding now in 2025, where PEPE has once again entered its monthly FVG+ support zone while showing bullish divergence with Bitcoin. If history repeats itself, PEPE could be on the verge of another parabolic breakout, with analysts watching for a trend reversal confirmation in the coming days.

Key Levels to Watch

The crucial support zone for PEPE is currently between $0.00001135 and $0.00001350, marked by the Monthly FVG+ area. This level will be critical in determining whether PEPE can hold its ground and initiate a reversal. On the upside, the first major resistance level stands at $0.00001900, with a significant breakout zone at $0.00002180. If momentum builds similarly to early 2024, PEPE could aim for another massive rally, potentially mirroring its previous 1,160% surge.

Is PEPE Ready for Another 10x Run?

While the technical setup suggests a possible breakout, external market factors—including Bitcoin’s dominance trends, the outcome of the FOMC meeting, and overall investor sentiment—will play a crucial role in determining PEPE’s short-term trajectory. Holding the Monthly FVG+ support zone is essential for bulls to regain control, and if the pattern holds, PEPE may be gearing up for another explosive rally.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions.