The Pepe Coin (PEPE) has experienced a recent price rally, peaking at $0.000015 on May 12 before pulling back to around $0.00001250. Technical analysis indicates strong bullish formations, such as a double-bottom pattern followed by a bullish flag, which often precede significant upward price movements. A confirmed breakout above $0.00001535 could propel PEPE toward the 38.2% retracement level of $0.000020 and possibly challenge its all-time high of $0.00002840, implying a potential 125% upside from current levels.
Additional positive signals include a large triple-bottom pattern near the all-time high neckline and a consistent accumulation of PEPE tokens by whales, with holdings among large wallet addresses increasing markedly in recent months. This accumulation is supported by falling exchange balances, which indicate reduced selling pressure and growing confidence among holders who prefer self-custody over exchange storage.
The funding rate for PEPE futures has remained positive since May 8, signaling increased demand for long positions and market optimism about price appreciation. Moreover, PEPE’s recent 30-day moving average crossing above the 200-day moving average, known as a golden cross, further reinforces the prospect of a parabolic bounce. Although the coin retraced 4% over a week, its recent gains are notable, showing a 62% increase over two weeks and 73% over the past month.
Market sentiment is generally improving, especially as potential positive trade developments and monetary policy easing from the US could contribute to a supportive macro environment for cryptocurrencies like PEPE. Meanwhile, new competitive Pepe-themed tokens, particularly MIND of Pepe (MIND), an AI-driven autonomous agent with a presale raising over $9.6 million, pose emerging challenges but also highlight the meme coin sector's innovation and expanding interest.