Is PEPE about to explode 100%? Here's what the chart just revealed

Pepe prices have (PEPE) remained low since the start of the week, but could be preparing for a big move as pressure mounts. At a price near $0.000007, Pepe price has consolidated close to 21 and 50DMA over the past four trading sessions. The meme coin has also been around the mid-range of $0.000005-0.000009 for about six weeks now. However, chart analysis suggests that Pepe price could be on the verge of a major rally, as the meme coin is exploring the possibility of breaking through the downtrend from its December 2024 high. If this downtrend line breaks, it would come as no surprise to see PEPE quickly recover back to the 200DMA level at $0.000013 and above, potentially rising as much as 100% in the near term. Pepe price is also said to have formed a pennant structure in recent weeks, suggesting that pressure is mounting for a major breakout in the bullish or bearish direction.

Will conditions be right for Pepe's big rally? But do the fundamentals match this technically strong bullish outlook? Well, maybe not the time, as the macro backdrop is still challenging. Yes, concerns about the trade war seem to have peaked after Trump delayed imposing tariffs on many countries earlier this month. But the U.S. economy is increasingly showing signs that it may be about to collapse, and the Fed has not yet sent enough signals to markets that it will be ready to aggressively ease financial conditions and salvage the situation. Macro uncertainty remains high and the influx of new liquidity, which was previously the biggest driver of the altcoin and meme coin markets, is still a long way off. So, the pre-meme season may not be near yet. However, a gradual improvement in market sentiment could still take PEPE significantly higher in the coming weeks. Therefore, it should not be excluded that the price will increase by 100% in the near future.