- PEPE is up 65% since May 8, breaking out of a long downtrend and aiming for $0.00001450.
- Bullish momentum remains strong as key support holds and meme coin hype builds.
The memecoin mania is back, and PEPE is leading the charge. As of today, PEPE is trading at approximately $0.00001345, marking a staggering 65% gain since May 8. This explosive rally has turned former resistance levels into strong support and signals a major shift in momentum for the frog-themed cryptocurrency.
Bullish Breakout Confirmed
PEPE’s recent price action confirms a breakout above a long-term descending trendline that began in February, effectively ending its multi-month downtrend. After reclaiming the key $0.00000900 level, PEPE invalidated its lower highs and continued its parabolic climb. The coin is now testing the $0.00001450 resistance—aligned with the 0.5 Fibonacci retracement level from the November 2023 high of $0.00002836 to the January 2024 low of $0.00000602.
On the 4-hour chart, PEPE recently broke out of a bullish wedge pattern and is forming consistent higher highs and higher lows, a classic bullish signal. The price is currently hovering just beneath the upper Bollinger Band and comfortably above major EMAs (20/50/100/200), which underscores strong upward momentum.
Also read: SUI Breaks Out and Soars 140%, Eyes New All-Time High Above $5
Technical Indicators Flash Bullish
The Relative Strength Index (RSI) sits at 71.7, signaling slightly overbought conditions, but the MACD remains firmly in bullish territory with no signs of a reversal yet. Meanwhile, price consolidation below $0.00001350 on lower timeframes hints at a possible bullish flag formation, setting the stage for the next leg higher.
Price Outlook for May 11
As long as PEPE holds above the $0.00001260–$0.00001220 support range, a continuation toward $0.00001450 and possibly $0.00001480 is expected. A break above the psychological $0.00001500 barrier could propel prices toward the 0.382 Fibonacci level at $0.00001758.
Conversely, losing the $0.00001200 level may spark a pullback to the $0.00001120 zone. However, the overall structure remains bullish unless the price slips below $0.00001050.
PEPE’s breakout is no fluke. Backed by strong volume, bullish technicals, and meme coin rotation, the frogs are hopping higher—and May 11 could mark another leap toward $0.00001450 and beyond.