- Pepe Coin (PEPE) has surpassed 463,000 holders and is flashing a bullish cup-and-handle pattern, signaling a potential breakout above the $0.00001580 resistance.
- With rising retail interest, whale accumulation, and strong derivatives market support, PEPE could rally toward $0.000030 if bullish momentum holds.
Pepe Coin (PEPE) has reignited bullish momentum in recent weeks, with several key indicators suggesting that a major breakout could be just around the corner. Now trading around $0.00001252, PEPE has not only surpassed 463,000 unique holders but is also flashing a bullish cup-and-handle formation on the daily chart, sparking excitement among retail investors and whales alike.
Technical Setup Points to Bullish Breakout
PEPE’s current chart structure is a textbook example of a cup-and-handle pattern, a bullish continuation signal. The price is now approaching the critical $0.00001580 resistance zone, which, if broken, could trigger a rally toward $0.000030.
The Directional Movement Index (DMI) adds strength to the bullish case, with the +DI (35.3) well above the -DI (12.7), showing buyer dominance. Meanwhile, the Average Directional Index (ADX) at 23 indicates that a trend is forming but hasn’t fully matured, suggesting more room for upside if momentum accelerates.
Sourse: TradingView
Derivatives Market Shows Strong Bullish Bias
Traders are increasingly betting on PEPE’s next leg up. According to CoinGlass, Open Interest (OI) has surged to $705 million, while trading volume soared over 60%, hitting $3.67 billion. The OI-weighted funding rate remains firmly positive at 0.0107%, a sign that long positions are paying a premium, another indicator of bullish conviction.
Retail Growth Meets Whale Accumulation
On-chain data reveals surging retail and whale activity. The number of new addresses is up 39.01%, while active addresses jumped 38.43% in the past week, signaling rising user participation. Additionally, whale transactions are on the rise, up 6.63%, with large holders accumulating more than 4.07 trillion PEPE tokens, according to Santiment.
Simultaneously, exchange reserves have dropped to 98.9 trillion PEPE, down from 214 trillion in August 2023, implying that investors are moving tokens to self-custody in anticipation of future gains.
MVRV Indicator Signals Undervaluation
Another bullish signal is the Market Value to Realized Value (MVRV) ratio, which has recently exited the negative zone. This shift suggests that PEPE is no longer undervalued and may be preparing for a price surge.
As Ethereum continues its uptrend, climbing past $3,000 with a path to $4,000 in sight, memecoins in its ecosystem like PEPE and Shiba Inu are expected to benefit from renewed liquidity and speculative interest.
$0.000015 Next, or Another Pause?
With bullish technical patterns, rising derivatives activity, strong on-chain metrics, and surging retail and whale interest, PEPE looks primed for a breakout. A decisive close above $0.00001580 could pave the way toward $0.000030, while failure to do so may lead to short-term consolidation.
