PEPE completes the cup and handle pattern, targeting a 61% rally to $0.000023793.
Futures open interest jumps 111% to $636M, signaling rising trader participation.
Whales accumulate 4.02T PEPE as address count grows to 437K, boosting investor confidence.
Pepe Coin (PEPE) is showing renewed momentum as it trades above key support zones and approaches major resistance levels. The token recently completed a technical retest, and analysts now point to strong continuation patterns. If current structure holds, PEPE could break to new highs in June.
Cup and Handle Pattern Confirms Uptrend Potential
According to analysis prepared by Investing Haven, PEPE has completed a classic cup and handle formation on the 12-hour chart. The pattern suggests a potential rally toward $0.000023793, representing a 61.26% move from current levels. The neckline sits at $0.000014764, and a breakout above this could initiate the next leg up.
Technical indicators also support this view. The 50-period moving average remains below the current price, indicating support, while the 200-period moving average confirms longer-term strength. The Relative Strength Index (RSI) reads 59.12, pointing to increasing bullish momentum.
Data from TradingView shows PEPE trading above a key Fibonacci support and forming higher lows since March. These developments give strength to predictions that the token could soon test the $0.00001800 to $0.00001900 zone and possibly reach $0.000023793 in the coming weeks.
Rising Whale Activity and Volume Back Breakout Scenario
According to Coinglass, open interest in PEPE futures has surged by 111.4% to $636.44 million. This shows growing trader interest, which is typically seen before major price movements. Funding rates remain positive, confirming that long positions dominate the market.
https://twitter.com/PepeCZBinance/status/1925405154406273471
On-chain data shared by Santiment shows whales have accumulated over 4.02 trillion PEPE since February. Smaller holders also increased, with the total number of addresses reaching 437,000. These metrics indicate a strong community base and rising investor confidence.
PEPE’s price structure remains above key trendlines on the weekly chart. As noted by Clifton Fx, a bullish pennant has formed, and a breakout could bring a 50% to 100% move. With bullish signals across timeframes, traders now await confirmation near resistance.
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