Pepe’s price has tumbled more than 43% from its peak this year. With fear creeping back into crypto markets, the meme coin is flirting with levels not seen since May. But technical signals suggest that a major bounce may be closer than it looks.
The past two months have been rough for Pepe holders. Just a few weeks ago, the token was riding high with bullish sentiment sweeping across the meme coin space. But crypto doesn’t stay euphoric for long. What we’re seeing now? A complete sentiment shift — and Pepe’s chart is reflecting that reality.
Yet all might not be lost.
A Falling Wedge Pattern Points to a Sharp Turnaround
There’s one technical pattern that’s quietly building behind the scenes — and it’s the kind bulls love.
Pepe has been forming what analysts call a falling wedge — two sloping trendlines converging as the price drops. It might sound ominous, but it often signals the calm before a storm — an upward one.
The price has been pushing lower, yes, but momentum is clearly slowing down. The narrowing wedge suggests that sellers are running out of steam. If this pattern holds true — and historically, it often does — then we could see Pepe break out, and fast.
If this breakout takes place, traders may quickly shift their focus to one big number: $0.00001625 — the coin’s highest point this year. That’s almost 80% higher than where it’s trading now.
Break-and-Retest, Double Bottom — A Combo Traders Dream Of
Pepe’s chart is doing more than just forming a wedge. There’s another reason to keep an eye on this token: the price recently returned to a critical level of support.
That support? $0.0000092. That’s the same level it hit back in late March — the exact moment it began to rocket higher.
It gets more interesting. That March move formed a double bottom pattern. In technical analysis circles, that’s one of the most well-known reversal signals — a hint that the worst may be over. When prices revisit those necklines and hold, it’s called a break-and-retest.
Put simply:
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Double bottom: suggests exhaustion in selling.
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Break-and-retest: validates the bullish shift.
And right now, both are showing up on Pepe’s chart.
These aren’t random chart doodles either. Traders watch these patterns religiously because they often show where the smart money is positioning.
Bitcoin Pepe Presale Crosses $16 Million, Hype Builds Around Layer-2 Ambitions
Away from the charts, there’s another buzzword flying around the crypto space: Bitcoin Pepe. Known as BPEP, this offshoot meme project has pulled in more than $16 million during its presale — a number that puts it among the most successful launches of 2024.
That’s no small feat, especially during a period where retail appetite has taken a backseat.
Two sentences say a lot here: investors are hungry for the next Solana-killer. And BPEP is billing itself exactly like that.
What’s making BPEP stand out isn’t just the memes — it’s the tech promises. The project plans to build:
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A layer-2 on top of Bitcoin
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A DEX (decentralized exchange) similar to Solana’s Pump
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A token bridge
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Fast tools for meme coin creation
The pitch is simple but effective: do what Solana did, but do it on Bitcoin.
And with BPEP’s token priced at just $0.04 — plus a 30% bonus for buyers — the FOMO is real. The listing announcement date is set for June 30, and some big names like Uniswap and BitMart are already lined up to support the rollout.
How Pepe’s Slump Compares to Other Meme Coins This Quarter
Pepe hasn’t been alone in its struggle. The entire meme coin segment has taken a hit as Bitcoin wobbled and enthusiasm cooled.
Here’s a quick snapshot of how the top meme coins have performed over the last 60 days:
| Token | 2-Month Performance | YTD Performance | Current Price vs 2024 High |
|---|---|---|---|
| Pepe | -43% | +112% | Near May lows |
| Shiba Inu | -31% | +76% | 28% off highs |
| Dogecoin | -19% | +42% | Holding mid-range |
| Floki | -46% | +98% | At key support |
July Could Be Make-Or-Break for Pepe Holders
If Pepe’s wedge pattern holds and the double-bottom confirmation kicks in, July could bring the kind of move that traders have been waiting on.
The target? Back to $0.00001625 — an 80% rally from here.
But there’s one caveat. If support at $0.0000092 gives out decisively, bulls may have to reassess. The next logical floor is down near $0.0000057, and that would be painful.
So far though, that hasn’t happened. The token is still dancing around its neckline, which makes this a critical week to watch.
Volatility is the name of the game in meme coins — and Pepe is once again front and center.
