Pepecoin (PEPE) Trades Sideways, But Analysts Anticipate a Strong Breakout

Pepe's PEPE/USD is trading sideways on Wednesday, but analysts anticipate a strong breakout.

Pepe's PEPE/USD price is expected to continue its sideways movement on Wednesday, but analysts anticipate a strong breakout from the current trading range.

Crypto trader Jameson noted that Pepe's chart is looking good.

" $PEPE looking good here "

Meanwhile, MaxBecauseBTC believes the biggest move is in the works.

He dismissed concerns over previous cycle tops (March, May, December), viewing this period as a re-accumulation phase ahead of the next bull leg.

MaxBecauseBTC also reaffirmed his long-standing $50 billion price target for Pepe, which he made when PEPE's market cap was only $300 million.

Trader BagCalls highlighted that PEPE is currently at September 2022 levels and expects it to break the $10 billion valuation very soon.

According to blockchain analytics firm IntoTheBlock, large transaction volume decreased by 27.4%, daily active addresses increased by 16.7%, and transactions greater than $100,000 went up from 161 to 175 in a single day.

In other news, crypto trader Plazma stated that Pepe has added 346 new holders, bringing the total holders as of April 2 to close to 420,000.

Further, data from Coinglass shows that Pepe liquidations in the past 24 hours amounted to $2.01 million, with a majority being long liquidations at $1.14 million. Derivatives trading volume saw an increase of around 12%.