$PEPE
🚨 PEPE Price Targets and Technical Outlook 🚨
Market analysts are now focusing on $0.000016 as the next critical resistance level. If PEPE can close above this level, it could rally toward $0.000021 (the January high) and potentially reach $0.00002649 based on Fibonacci projections.
Some technical analysts suggest that if the current breakout holds, PEPE could climb as high as $0.00003864, based on the depth of a rounding bottom pattern that has been confirmed on price charts.
However, caution is warranted. With the RSI in overbought territory at 85.40, a price correction in the coming days remains possible. If a pullback occurs, immediate support lies at $0.000013, with deeper support at $0.000010.
The high liquidations of long positions, which have spiked to nearly $5 million on the 12-hour chart, also suggest that a retest of lower support levels may be coming. Many analysts view this as a potential “buy-the-dip” opportunity for confident investors.
Despite $10.52 million in net inflows of PEPE into exchanges on May 12 (and $18.55 million over the past week), the coin has continued its upward trajectory. This shows that even with profit-taking, buyer demand remains strong enough to absorb the selling pressure.
Data reveals that the average holding time of transacted PEPE remains under one month. This indicates that short-term traders are actively taking profits, while long-term holders appear to be holding on in expectation of further gains.
The meme coin market as a whole has reached a 30-day high of $76.13 billion, buoyed by Bitcoin’s recent strength. Within this rising tide, PEPE has emerged as the standout performer.
For now, PEPE traders are watching the crucial $0.000016 level. A decisive break above this resistance could confirm the continuation of the bullish trend, while failure may lead to a retest of support levels before the next leg up.
