PEPE confirms bullish breakout patterns, with price targeting $0.00002378 in the short term.
On-chain data shows 75% whale holdings and low selling pressure, supporting price strength.
Trading volume and RSI momentum suggest PEPE may reach a new ATH by June.
PEPE is showing strong bullish momentum as it continues to build support near recent highs. Technical patterns and volume data suggest that the memecoin may be on track to set a new all-time high (ATH) this June. Price action remains above key support levels, while buyer activity increases steadily.
Bullish Breakout Patterns Support PEPE Price Continuation
According to analysis prepared by Bitcoinsensus via X, PEPE has confirmed a daily break of structure, indicating potential for continued upward movement. The price has broken out from a consolidation zone and is approaching the psychological resistance level of $0.000020.
Analyst clifton_ideas identified a bullish pennant on the 4-hour chart. The price is testing the upper trendline of this formation. “In case of an upside breakout, we can see a 50–100% bullish rally,” the analyst stated. The flagpole height provides a reference point for estimating price targets.
Additionally, the rounded bottom formation observed on the 4-hour chart points to a confirmed bullish reversal. PEPE has breached resistance near $0.00001600 and is now consolidating just below this level. If support holds, the token could target $0.00001800, and then move towards $0.00002378.
On-Chain and Market Activity Reflect Rising Confidence
According to data from IntoTheBlock, 75% of PEPE’s total supply is held by whales and institutional addresses. This suggests continued accumulation by larger players, often a precursor to rising prices. Around 94% of holders have kept their tokens for over one month, reflecting reduced selling pressure.
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PEPE’s daily trading volume recently reached $2.42 billion, with the price up 12.89% in 24 hours. Technical indicators such as RSI and MFI both point toward ongoing momentum, with RSI nearing 68 and MFI above 71.
According to D.DTrading on X, a confluence of demand zones may offer new entry points for short-term traders. The current setup suggests the price may form a higher low and resume its upward trend toward a potential ATH in June.
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