PEPE, the meme coin that made headlines with a huge price spike back in October 2024, is turning heads again.
Meme coin PEPE is known for its huge price spike back in October 2024, which saw the coin's price surging 100% in just 15 days. According to prominent analyst World Of Charts on X, PEPE price has just broken out of a new chart pattern, and it looks strikingly similar to the one that triggered its previous 100%+ rally. Could this mean that PEPE might be gearing up for another big move?
PEPE price broke out of a long-term symmetrical triangle last October after months of sideways trading. According to the analyst, what followed was a rapid 114% surge in just 15 days, taking the price from about $0.00000087 up to nearly $0.00000186. That explosive breakout has since become a textbook example for traders watching meme coin setups.
PEPE price is currently trading at around $0.00000127 following a breakout from a descending parallel channel that had defined price action since early 2024. The recent breakout from the channel has drawn comparisons to the October move. Technical analysis from the chart shows a projected move of 103.79%, aiming toward a potential target of $0.0000026.
The channel breakout suggests a reversal in trend. Price has also reached a higher low, which supports the possibility of a sustained upside. A blue projection box on the chart visually mirrors the previous breakout, further reinforcing expectations of a similar outcome.
On the downside, support has formed around $0.000
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