PEPE confirms breakout above $0.00001200 support, eyes $0.000022–$0.000025 target zone.
Whales added 10T+ PEPE in 48 hours, pushing total holdings to 144.86 trillion tokens.
Retail activity surges with 5,030 active addresses and 66% long positions on Binance.
Pepe Coin (PEPE) has followed a clear breakout-retest setup, performing as projected by technical analysts. After surging over 137% from its March low, PEPE now consolidates near key resistance levels, setting the stage for another upward push. Analysts anticipate a target between $0.000022 and $0.000025 in the near term, supported by bullish indicators and on-chain metrics.
Breakout Confirmed as PEPE Holds Key Support
According to analysis prepared by Gemxbt via X, PEPE entered a consolidation phase after an initial uptrend, holding support near $0.00001200. Resistance has formed around $0.00001350, and the recent price activity confirms a breakout from a triangle pattern that began forming after the December 2023 high.
The breakout occurred with a ~35% move on May 8. The price remains above the 50% Fibonacci level at $0.00001222, reinforcing the bullish setup. The MACD still shows momentum, although short-term signals suggest a possible pullback. Analysts note that a move above $0.00001337 could confirm continuation, while a retest of $0.00001116 may form a base for further gains.
Whales and Retail Support Strengthen the Rally
Large holders have added over 10 trillion PEPE in the last 48 hours, raising total holdings to 144.86 trillion, according to IntoTheBlock. Whale accumulation is often a precursor to extended price action. Net inflows on May 8 reached 932.58 billion PEPE, reflecting ongoing interest from large investors.
https://twitter.com/SolbergInvest/status/1920886014823878948
Retail participation is also climbing. Active addresses rose by over 100%, reaching 5,030, with 1,600 new wallets joining within a day. Sentiment on Binance remains bullish, with 66% of traders holding long positions. Trading volumes continue to rise, reinforcing market momentum.
With volume-backed price movement, whale interest, and a successful technical setup, PEPE appears positioned for a move toward the projected target zone of $0.000022–$0.000025.
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