Pepe (PEPE) has surged nearly 57% over the past month, significantly outperforming the broader crypto market which recently cooled with a 5% pullback. Despite a 2% dip in the last 24 hours to $0.000013568, the memecoin shows resilience as 17.9 trillion tokens exited exchanges since July 16 – signaling strong holder confidence and reduced sell pressure. This outflow trend persisted even during PEPE's 12% intra-period price surge.
Technical indicators suggest bullish potential: PEPE trades near a wedge pattern breakout level at $0.00001497 (0.382 Fibonacci extension), with a close above potentially propelling it toward $0.000017. However, stiff resistance emerged at $0.000014713 during a failed breakout attempt that triggered $4 million in liquidations. Support holds firm near $0.000013618, where buyers consistently intervene.
Fundamental metrics reinforce optimism: The 30-day MVRV ratio at +12.24% remains below the 20-30% threshold that historically triggers mass selling. Despite exchange wallets increasing holdings by 0.24% in 24 hours, PEPE's monthly 55% gain crushes the CoinDesk Memecoin Index's 41.7% rise. Analysts like Lark Davis identify $0.0000155 as a breakout target, supported by a recent golden cross pattern.