PEPE Coin Soars 60% in 4 Days: Is a New All-Time High on the Horizon?

3h ago•

bullish:

bearish:

Pepe Coin (PEPE), one of the most popular meme tokens in the market, has surged more than 60% in just four days, propelled by Ethereum’s climb above $2,400 and strong technical momentum. The rally has pushed PEPE to $0.00001264, sparking speculation about a potential breakout toward new all-time highs (ATH).

At The Bit Journal, we took a closer look at what’s fueling this sharp rise—and whether it could just be the beginning of a much larger move.

PEPE Breaks Out of Triangular Formation

PEPE’s price has soared 137% since bottoming at $0.00000525 on March 11. This rally has brought the coin back to price levels not seen since early February, including a key resistance near $0.00001391. More importantly, the price has broken above the 50% Fibonacci level at $0.00001222, triggering a clean breakout from a descending triangle pattern.

This triangle had formed between the all-time high in December 2023 ($0.00002836) and the March low, creating a technically significant formation. The recent 35% intraday spike on May 8 confirmed the breakout. If the measured move plays out, analysts are eyeing a potential target of $0.000022, representing a 161% Fibonacci extension from the formation’s base.

Indicators Support Bullish Continuation

PEPE’s technical setup suggests more upside is likely:

200-day SMA continues to act as resistance, while both the 50-day and 100-day SMAs are showing a bullish crossover.
MACD confirms rising momentum, aligning with the recent price action.
Fibonacci projections suggest that surpassing $0.000022 could open the door to $0.00002649, and potentially a new ATH at $0.000040.

PEPE Coin Soars 60% in 4 Days: Is a New All-Time High on the Horizon? = The Bit Journal

Key Support Levels and Risks

Traders are watching $0.000010 as a key psychological support, with $0.0000090 marked as the next demand zone. A breakdown below these levels could negate the triangle breakout thesis and send the price back toward $0.00000563.

According to CoinGlass, nearly 66% of Binance traders are holding long positions in PEPE, pushing the long/short ratio close to 2.0—an indication of strong market sentiment leaning bullish.

Network Growth and Whale Accumulation Back Price Action

On-chain metrics reinforce the bullish thesis:

Active addresses doubled in the last 24 hours, rising to 5,030, per IntoTheBlock.
New addresses surged by 55%, reaching 1,600, while weekly active users increased by 78%, suggesting a sharp return of investor interest.
Whales holding 1T–10T PEPE added more than 10 trillion tokens in the past 48 hours, bringing their total holdings to 144.86 trillion PEPE.
Net flows from large investors remain positive—an important indicator of institutional confidence.

Final Thoughts: Is PEPE Coin Heading for a Historic Rally?

With a favorable technical setup, renewed user activity, and strategic whale support, PEPE appears well-positioned to extend its rally and potentially reach new highs. Whether or not it can maintain its momentum will depend on market sentiment and macroeconomic factors—but for now, bulls are clearly in charge.

As always, investors should practice caution and proper risk management when trading volatile assets such as meme coins.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always do your own research or consult with a financial advisor before making investment decisions.