Pepe ($PEPE) is poised for a breakthrough: Meme coins may welcome a historic surge
Derivatives market data shows:
Total open interest: $91 billion on April 9 → $120 billion on April 29 (+31.8%)
Bitcoin's open interest accounts for 45%-50% of the total
At the macro level, the expectation of an improved global trade environment is increasing, and institutional investors' demand for crypto assets (especially inflation-resistant varieties like BTC) may see explosive growth.
Pepe has recently been under pressure, but after several weeks of deep correction, it has shown key reversal signals.
Technical indicators suggest that if this memecoin can hold above the resistance level of $0.00000784, it may record its first bullish monthly close since its listing.
Key data to watch:
Current price has retraced 42% from last month's peak
$0.00000784 is a key psychological level over the past three months
Breaking this price level will trigger a technical buy signal on the monthly chart
Pepe's daily technical indicators are releasing multiple bullish signals:
Price has formed solid support at $0.0000057
RSI shows a double bottom pattern + bullish divergence structure
MACD fast and slow lines have completed a zero-axis breakthrough (as of press time)
Key price levels to watch:
Support level: $0.0000057 (effectively tested three times recently)
Resistance level: $0.00000784 (previous high neckline)
Pepe (PEPE) has shown strong market performance recently, with on-chain data indicating that trading volume surged by $430 million over the past 7 days, with a fully diluted valuation reaching $3.7 billion and an average daily trading volume maintained at a high of $450 million.
This memecoin has shown a high correlation with Bitcoin's price movement, with a 30-day correlation coefficient reaching 0.82.
