PEPE has re-entered bullish conversations after fresh crypto inflows, and some analysts say the weekly chart is forming a familiar, powerful setup. Crypto Patel argues the same fractal-level structure that preceded one of PEPE’s steep 2023 rallies has reloaded, and this cycle could be even larger.
At the time of writing PEPE trades near $0.0000038, roughly 87% below its all-time high ($0.00002803) while retaining a market cap around $1.59 billion. The bullish thesis hinges on three weekly technical elements converging at the same price area: a Fair Value Gap (FVG), an Order Block, and a long-running horizontal support zone. A triple confluence on the weekly timeframe is uncommon and gains weight from months of price history.
In 2023 PEPE hit a nearly identical FVG-plus-Order-Block confluence after a breakdown-and-retest sequence, then rallied about 4,515%. Crypto Patel maps the current price action as a mirror of that move—same breakdown, retest and demand reclaim—and projects a 5,592% expansion target for this cycle (roughly a 55x move).
Intermediate targets cited include the prior peak near $0.000028 and a memecoin-Fibonacci extension around $0.00005. The ultimate target discussed is $0.0001 by the end of the bull cycle, which would establish a materially higher ATH.
Key technical levels to watch: PEPE sits above an Accumulation Zone roughly between $0.0000030 and $0.0000018. The first major resistance to flip is near $0.0000071. A weekly close and hold above about $0.000006 would be structural confirmation that a large bullish expansion has begun. The analyst marks $0.0000017 as the invalidation level—if the lower end of that weekly support gives way, the bullish thesis would fail.
Short-term commentary has also pointed to possible selling-climax signals, adding to the case for a brewing rally. Charts referenced include TradingView; the featured image was created with Dall·E.