Pepe (PEPE) has experienced a dramatic 28.3% price surge within 24 hours, pushing its value to $0.05488 and testing a key resistance level at $0.055013. The rally occurred while the token held firmly above a crucial support level of $0.053806, maintaining its short-term bullish structure. This significant dollar-denominated gain was mirrored in major trading pairs, with PEPE rising 25.7% against Bitcoin (BTC) and 26.9% against Ethereum (ETH).
Technical indicators are flashing strong bullish signals. The Relative Strength Index (RSI) is positioned at 81.58, indicating PEPE is in overbought territory with powerful momentum. Concurrently, the Moving Average Convergence Divergence (MACD) line has crossed above its signal line, and its histogram is expanding in positive territory, confirming accelerating upward momentum alongside the price surge.
Beyond the immediate rally, analysts are pointing to a larger bullish pattern forming on the daily chart. Pepe Coin appears to have constructed a massive double-bottom pattern, with its lows established around $0.0000036 in December 2025 and again recently. The neckline of this pattern rests at $0.0000072. According to classic technical analysis, a confirmed breakout above this neckline could project a 150% price increase, targeting a move toward $0.00001080.
Supporting this potential for a major move, key on-chain and derivatives metrics are strengthening. Futures open interest for PEPE has climbed to $262 million, significantly above its year-to-date low of $200 million, signaling increased trader demand and positioning for a potential rebound. Daily trading volume has also rebounded robustly, reaching $435 million, which notably surpasses the volume of other major meme coins like Shiba Inu ($114 million).
The immediate price action hinges on the battle between the $0.055013 resistance and $0.053806 support. A decisive break above resistance could trigger further intraday extensions, while a failure to overcome it may lead to consolidation. A break below the key support level would undermine the short-term bullish structure.
