Whales within the PEPE ecosystem are starting to accumulate during the dip, a move that could be anticipated, especially as the crypto market gears up for a potential climb upon Bitcoin's breakout from its consolidation phase. This ripple effect means that alternative coins are also making moves on the price charts. While the scope may be limited, there's a chance that an upward trend could emerge within the next 2–3 months.

However, it's important to note that this is just a possibility, with volatility being a constant factor that could disrupt this trajectory at any moment.

PEPE aims to surpass its all-time high (ATH) of $0.000009977, which it recently reached on the trading board. The current value sits optimistically at $0.00000845. The next resistance level is set at $0.00000913, potentially paving the way for an ascent to $0.00001. Despite a slight decline of nearly 2.94% in the last 24 hours and 2.71% in the last 7 days, market sentiment remains bullish for the future.

Technical indicators like the Vortex Indicator and Pivot Levels suggest a trend towards recovery. The Vortex Indicator indicates that the VI+ slope is above VI-, while Pivot Levels have identified two resistance zones at $0.0000113 and $0.000014, both on the higher side. Recent news of the withdrawal of 350.2 billion PEPE tokens may have triggered a bullish trend.

A trader known as Oxa14 has withdrawn these tokens from Binance, amounting to roughly $2.92 million in value, with PEPE prices at $0.00000849 at the time of writing. This strategic withdrawal has yielded the traders a cumulative profit of approximately $2.59 million from the tokens, showcasing Oxa14's proficiency in swing trading.

PEPE coin has experienced a notable 45.45% increase in the last 30 days, along with a 20.34% rise in 24-hour trading volume. Although the market cap has taken a slight hit, accounting for only 1.07%, this could be easily recovered, especially as Bitcoin maintains its milestone of $60,000. A potential decline in dominance of leading cryptocurrencies could once again favor altcoins, although the token value may experience a temporary loss of momentum.

In the short term, the goal is to observe whether PEPE can surpass its ATH. With its price breaking out of the neckline resistance of inverted H&S signals, there's indication of a sustainable recovery trend. Since May 4, 2024, PEPE has been on the cusp of a bull run, suggesting that any upcoming surge might not be surprising given existing speculations.

In the crypto market, buying during a dip has proven advantageous, with more individuals exploring meme coins due to their lower trading risks. Bitcoin's upward trajectory could potentially fuel a PEPE upswing, with current trends hinting at a possible sustained recovery for now.