The post Is PEPE’s consolidation an early sign of an October-style 100%+ breakout rally? appeared on BitcoinEthereumNews.com.

PEPE’s October rally remains one of its most notable price movements, representing a 227% hike in price To determine if PEPE is positioned for a similar rally, its current technical setup is worth analyzing In a recent market commentary, analysts hinted at the possibility of a 100% upside in Pepe [PEPE], drawing parallels with its October breakout pattern.  Notably, 2024 marked a breakout year for the memecoin, after it posted remarkable 1,435% year-over-year gains – Surging from its New Year opening price of $0.0000013. By doing so, it closed the year with exponential returns. At press time, however, PEPE was trading 61% below its Q1 2025 opening, reflecting broader market corrections. Still, its current 1-day chart structure closely mirrors the late October consolidation range, characterized by compressed price action.  Historically, this pattern has preceded a sharp breakout, with the same seeing PEPE skyrocket by 227%, peaking at $0.00002597 on 14 November. As a result, speculations are swirling around whether the memecoin could be ready for a similar breakout in the near term. A repeat rally, perhaps? Source: TradingView (PEPE/USDT) Breakdown of PEPE’s fundamental setup Interestingly, active addresses on the PEPE network averaged 2,500 prior to a significant surge to 20,500 in mid-November, aligning with the token’s parabolic price movement.  Historically, such an uptick in on-chain activity has been a leading indicator of bullish momentum.  However, current network metrics remain relatively flat, with active addresses at 2,587 – Mirroring previous consolidation phases before breakout events. In other words, this could mean a similar accumulation pattern that preceded a significant price shift previously. . Source: Glassnode Despite the lack of concrete confirmation, PEPE’s speculative rally potential might be a double-edged sword. Particularly when considering derivative market data.  For instance – Coinglass data indicated that despite muted on-chain activity and a lack of…

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Filed under: News - @ April 15, 2025 6:24 am