PEPE has captured attention with a notable 21% price surge over the past week, raising its value to $0.00001098. This rally has been a big win for holders, with around 243,500 investors—or 77% of them—now in profit. Still, some remain cautious about whether PEPE can sustain this momentum. The main question:
Will PEPE keep rising, or is a pullback around the corner?
Is a Breakout Coming?
What’s adding excitement among traders is a bullish pennant pattern that has been forming since March. This type of pattern often suggests significant upward potential, with some analysts predicting that if PEPE breaks out, it could see gains as high as 200%. However, PEPE needs to overcome a key resistance zone between $0.000010 and $0.000012 to make that leap.
Currently, its support level sits at $0.0000098870, which aligns with the 200-day moving average—a positive sign for those hoping it holds steady.
Not all traders are convinced by the recent rally. The long-short ratio, leaning slightly towards shorts at 0.95, indicates some lingering doubt about PEPE’s ability to keep climbing. These cautious traders might be waiting to see if the current trend holds before committing.
PEPE Buying Pressure Builds Up
On-chain data shows a rise in buying pressure as more PEPE is moving out of exchanges—a signal that investors may be holding rather than selling. This shift often hints at market stability. However, some large holders, or “whales,” have recently sold parts of their holdings, which has raised a bit of concern. Despite this, overall sell volume has sharply dropped from 100 to just 17, suggesting lower selling pressure and potentially a steadier market for PEPE.
The Relative Strength Index (RSI) has dipped a bit too—from 74 down to 60. It’s not a huge drop, and staying at 60 means PEPE is still in the bullish zone. It’s like a pause, maybe even a healthy one, as the price finds its footing for whatever comes next.
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What’s Next for PEPE Investors?
Investors are cautiously optimistic as PEPE maintains its position above key support levels. If buying pressure continues and PEPE breaks through resistance, the rally may continue. However, some investors are watching closely, especially with whale activity and a slight bias toward short positions.
The upcoming price movements will be essential in determining if this rally can hold or if the excitement will taper off. For now, PEPE holders are enjoying the upward trend—but only time will tell if it’s here to stay.
