- Despite a $15M sell-off by Robinhood, PEPE has held strong and even rallied 8%, signaling bullish momentum.
- Technical patterns and rising market interest suggest a potential breakout with gains of up to 91% ahead.
Despite a massive $15 million sell-off by Robinhood, PEPE has flashed strong bullish signals that hint at a potential breakout—leaving investors questioning: what’s driving this surprising resilience?
In the last 24 hours, a wallet linked to the U.S.-based exchange Robinhood unloaded a significant amount of PEPE, creating downward pressure that would typically trigger a price slump. But PEPE didn’t flinch. In fact, it rallied over 8%, showing unexpected strength in the face of whale-driven selling.
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Interestingly, Robinhood still holds 3.67% of PEPE’s total supply—valued at over $209 million—despite the recent offload. The lack of a buyback from the exchange hasn’t deterred market optimism either.
So, why are traders staying bullish?
Short-term technical indicators point to a symmetrical triangle pattern on the 4-hour chart, a setup that often precedes an upward breakout. If confirmed, PEPE could climb by another 12%, targeting the $0.00001541 range.
Zooming out, the 1-day chart reveals an even more compelling formation: a cup-and-handle pattern. A breakout above the $0.00001483 resistance could catapult PEPE to $0.00002836—a price level not seen since December 2024. That would mean a staggering 91% rally from current levels.
Market sentiment seems to be aligning with the charts. On-chain data shows that $335,000 worth of PEPE has been scooped up in the spot market. Meanwhile, a positive OI-weighted funding rate of 0.0127% signals growing bullish confidence in the derivatives market as well.
In summary, while Robinhood’s sell-off did create a stir, it hasn’t shaken investor confidence. If buying pressure continues to build and key resistance levels are breached, PEPE could be on the verge of a major breakout—turning short-term volatility into a long-term opportunity.
