The internet's favorite meme coin, PEPE, has been on a wild ride lately. After hitting an all-time high, its price took a nosedive, leaving investors wondering if it will recover. Despite the downturn, a special pattern on the chart suggests a possible comeback. Big players in the market, known as whales, are buying up PEPE, hinting at a potential turnaround.

PEPE's price dropped a whopping 7% in just one week, with a 6% fall in the past 24 hours alone. At the time of writing, it was trading at $0.00001089, with a market value of over $4.5 billion. The bearish trend might continue, pushing PEPE down to $0.00000898, but a breakout could send it soaring back to its all-time high.

Data from Santiment shows that more PEPE coins are being sold on exchanges, increasing the supply. However, whales are still buying, indicating a potential shift in the market. The Relative Strength Index (RSI) suggests the bearish trend might continue, but the Chaikin Money Flow (CMF) indicates a possible bullish turnaround.

If PEPE keeps falling, it might bounce back to $0.000009 before dropping to the support level. On the other hand, if the bulls take control, PEPE could reclaim $0.0000136 and test its all-time high. The future of PEPE is uncertain, but investors are keeping a close eye on its next move.

In conclusion, PEPE's price correction has left investors wondering if it will rebound. While the symmetrical triangle pattern suggests a potential reversal, the bearish trends and selling pressure indicate otherwise. Only time will tell if PEPE will regain its momentum and reach new heights. One thing is certain, though - investors are eagerly waiting to see what's next for this beloved meme coin.