The price of Pepe Coin, a popular meme coin, has dropped by over 70% from its all-time high in December, but there are indications that the coin could bounce back. The coin has formed a falling wedge pattern and a bullish divergence on the daily chart, suggesting that bearish momentum is fading. The Average Directional Index has also fallen, indicating a weakening trend. Additionally, the Relative Strength Index and MACD oscillators have formed a bullish divergence pattern, which could lead to a breakout and push the price back up to its all-time high. Pepe Coin may also benefit from a potential rotation from Solana meme coins to more established tokens, as concerns are growing over the Solana meme coin ecosystem due to rug pull scams. Pepe Coin has a longer track record and has seen significant growth since its launch in 2023. Data shows that a significant percentage of Pepe Coin whales have never sold a coin, indicating their confidence in a potential bounce-back. The number of Pepe holders has also continued to rise despite the decline in price, suggesting potential accumulation.



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