PEPE is shining once again. In the past 24 hours, the meme coin's price surged nearly 7%, reaching $0.00001453, marking not only a strong start to the week but also a new all-time high. In just four hours, short positions worth over $1.14 million were liquidated, as bearish traders were caught off guard by a powerful wave of buying. The big question: Is PEPE ready to break even higher?
📈 Technical Indicators Point to Continued Growth
PEPE is currently trading at levels not seen since January 31 — over 100 days ago. A major bullish signal came as the price broke above both the 200-day Exponential Moving Average (EMA) and the 61.8% Fibonacci retracement level at $0.00001426. This movement has formed a classic rounded bottom pattern, suggesting strong upside potential.
Following a nearly 60% drop between February and March, PEPE’s price formed a base around the psychological demand zone near $0.0000050. Now, with the breakout above the neckline, analysts see a potential 170% rally, targeting a price of $0.00003864.
🔍 Indicators Confirm Bullish Momentum
PEPE has successfully moved above all major EMAs — the 50-day, 100-day, and 200-day — showing a positive crossover. The MACD indicator and growing green histograms further support continued bullish momentum.
Key Fibonacci levels suggest the next resistance points:
🔹 78.6% at $0.00001870
🔹 100% target at $0.00002649, implying a 75% upside from current levels
However, if the price fails to close above the neckline level, it may consolidate within the current range. A drop below the psychological support at $0.000010 would invalidate the bullish breakout pattern.
💰 Bulls Absorb Heavy Selling Pressure
Last week, the PEPE network saw a significant token inflow — $18.55 million in fresh supply. Despite this, the price has remained strong. According to Coinglass, exchanges recently recorded a net outflow of $10.52 million, indicating that investors are moving coins to private wallets — a sign of confidence.
Data from IntoTheBlock also shows that most holders keep the token for less than a month, highlighting short-term speculation. However, long-term holders appear to be holding firm, providing stability.
🔥 Open Interest Spikes, Bears Squeezed Out
Futures trading in PEPE is booming. According to Coinglass, open interest (OI) is approaching $600 million, reflecting massive leveraged trading activity.
Over $1 million in short positions were liquidated in just four hours, showing how quickly the market turned against bearish bets. This sharp squeeze adds further momentum to PEPE’s bullish rally.
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