Pepe Coin (PEPE) is showing strong signs of a bullish breakout, driven by increased whale accumulation and the imminent formation of a rare golden cross pattern. The token recently reached a high of $0.00001450, marking a 175% increase from its April lows. On-chain data highlights growing holdings among whales, with those owning 10 million to 100 million PEPE coins collectively holding over 4.02 trillion PEPE, up from 3.9 trillion in February. Similarly, whales with 1 million to 10 million coins have increased their holdings to a record 517 billion coins.
Moreover, the total number of PEPE holders has risen substantially to 437,000 from 370,000 in January, despite a previous bear market phase. The Mean Dollar Invested Age (MDIA), which reflects the average age of invested dollars weighted by purchase price, has climbed significantly to 143 from 57, signaling that long-term holders are retaining their positions.
Additional bullish momentum is supported by a negative exchange netflow, indicating investors are moving PEPE off exchanges and possibly preparing to hold rather than sell. Technically, PEPE is forming a golden cross, which occurs when the 50-day moving average crosses above the 200-day moving average, a classic bullish indicator. A successful breakout above the 50% Fibonacci retracement and key resistance at $0.00001535 could catapult PEPE towards a new all-time high near $0.00002835, approximately 94% above the current price.
Despite a notable $15 million sell-off by Robinhood—one of the largest holders and second-largest wallet controlling 3.67% of the supply—PEPE’s price rose 8% within 24 hours. This resilience is underpinned by bullish technical patterns including a symmetrical triangle with a potential 12.24% upswing and a longer-term cup-and-handle pattern suggesting a possible 91% rally. Market interest in both spot and derivatives also supports the positive outlook, with increased buying and an OI-weighted funding rate indicating bullish sentiment among futures traders.
Prominent analysts forecast that PEPE could reach $0.000025 in the near term and eventually achieve a market capitalization between $10 and $20 billion. The growing confidence from smart money investors positions PEPE as a compelling beta bet within the meme coin sector, linking its prospects to broader Bitcoin and Ethereum market trends.