PEPE (PEPE) has now surpassed 463,000 holders, indicating a strong increase in user numbers and enthusiasm from retail investors.
This significant milestone comes at a time when memecoins are regaining momentum in the Ethereum (ETH) ecosystem.
Although the market remains cautious, the increasing number of PEPE holders indicates a strengthening long-term confidence in the project.
In the context of this on-chain growth, PEPE's price is currently trading around $0.00001207, down 6% in the past 24 hours but up 22% over the past 7 days.
The rise in the number of holders reflects the return of retail investors — a factor that often leads to speculative price increases and high volatility.
Is a bullish breakout forming?
The clear cup-and-handle pattern has appeared on PEPE's daily chart, indicating the potential for a continuation of the bullish trend. The 'handle' is gradually completing, with the price currently oscillating just below the $0.0000158 resistance area. If this neckline is broken, a rise to $0.00003 could definitely occur.
The Directional Movement Index (DMI) indicator is also supporting the bullish trend, with the +DI at 35.3, significantly higher than the -DI at 12.7, reflecting the dominance of buyers.
Meanwhile, the ADX is at 23, indicating that a trend is forming and there is still room for stronger growth. Therefore, if PEPE clearly breaks the resistance, the bullish momentum could accelerate significantly in the near future.
How confident are PEPE traders?
According to data from Coinglass, the derivatives market is showing increasingly strong bullish sentiment. Trading volume has surged over 60%, reaching $3.67 billion, while open interest (OI) also increased by 8.2% to $705.27 million.
These figures confirm that speculative demand is rising, as traders bet on the likelihood of continued price increases.
Additionally, the funding rate (financing fee) adjusted according to OI remains at a positive 0.0107%, indicating that market sentiment is firmly leaning towards the Long side.
This prolonged positive funding rate reflects that the bulls are willing to pay higher fees to maintain their positions, fully aligning with the bullish technical model.
Overall, PEPE's futures activity reflects growing optimism and a strong commitment from traders toward a bullish trend in the near future.
User activity and demand from whales
PEPE's on-chain growth is accelerating significantly, with the number of new wallets increasing by 39.01% and active addresses rising by 38.43% in the past week.
The number of wallets with a zero balance has also surged by 42.41%, reflecting a higher wallet turnover rate and a significant increase in speculative activity.
Expanding the user base shows that confidence in the project is increasing, while also demonstrating the growing utilization potential of the token, thereby increasing natural buying pressure in the market.
At the same time, interest from whales is also increasing, with large transactions up by 6.63% — a clear sign of strategic accumulation.
History has shown that the co-movement between retail money flow and accumulation by whales is often a precursor to strong bullish rallies. If this trend continues, PEPE could gain enough momentum to convincingly break through important resistance levels.
Will PEPE break through resistance or stop below $0.0000158?
PEPE's bullish outlook is supported by growth in retail users, breakout technical patterns, strong demand from the derivatives market, and increased whale activity.
However, to confirm the cup-and-handle pattern, PEPE needs to decisively close above the $0.0000158 mark. Without a clear breakout, bullish momentum will weaken.
Traders should monitor increasing trading volume and the number of holders continuing to rise as important confirmation signals.
If the breakout is successful, PEPE's price could advance to the $0.00003 mark. Conversely, if it fails, the token may enter a short-term consolidation phase.
