Pepe Coin Surges 11%: Are Whales Fueling the Next Big Breakout?
More from the Author Cal Evans
Pepe Coin (PEPE) surged 11.27% in 24 hours, driven by $5 million in whale purchases and bullish technical indicators suggesting a potential breakout if key resistance levels are breached.
Rising futures open interest, increased trading volume, and improving macroeconomic conditions further support the possibility of a 60-220% price increase.
Pepe Coin (PEPE) has seen a remarkable price surge of 11.27% in just 24 hours, reaching $0.000006370. This sudden bullish momentum comes after a long bearish period where the token had lost over 80% of its value from its all-time high of $0.00002833 in December 2024. Recent market activities, particularly large-scale purchases by cryptocurrency whales, have fueled optimism that PEPE could be on the verge of a significant breakout.
Whale Accumulation Drives PEPE’s Surge
On-chain data has revealed that three major investors purchased a combined 689.79 billion PEPE tokens, worth approximately $4.3-5 million. This substantial acquisition signals renewed confidence among major players. The largest buyer, wallet 0x7A7D, acquired 437.7 billion PEPE for 1,413.4 ETH (roughly $2.72 million). Two other wallets, 0x9212 and 0x7779, bought 158.58 billion PEPE ($1 million) and 93.51 billion PEPE ($574,000), respectively. Historically, whale accumulation often precedes price rallies by increasing liquidity and boosting market sentiment.
Technical Indicators Suggest a Bullish Breakout
Analysts have identified key technical patterns suggesting PEPE may be gearing up for a major price movement. Buy volume is increasing while selling pressure appears to be weakening, indicating the potential for a sharp upward push. Some experts predict PEPE could experience a surge of over 60% if buying momentum continues.
Key resistance levels to watch include $0.0000075 and $0.000010. If PEPE manages to break through these barriers, it could open the path toward $0.00002095, representing a potential 220% increase. However, traders should also keep an eye on support levels at $0.0000062 and $0.00000298. Failure to hold these levels could trigger another round of selling pressure.
Broader Market Conditions Support Crypto Recovery
Beyond whale activity and technical signals, macroeconomic factors have played a role in PEPE’s recent uptick. The latest U.S. inflation data showed a decline in the Consumer Price Index from 3.0% to 2.8%, easing concerns about aggressive Federal Reserve policies. This shift has spurred renewed interest in risk assets, including cryptocurrencies, contributing to PEPE’s price recovery.
Rising Open Interest and Market Activity
PEPE’s futures open interest has risen to $198-214 million, the highest level since early March. This indicates that traders are increasingly betting on a potential breakout. Additionally, daily trading volume has surged past $1.11 billion, reflecting heightened market activity. The Elder-Ray Index, which assesses market strength, has turned positive for the first time since January 19, signaling growing bullish sentiment.
Will PEPE Sustain Its Momentum?
Despite these promising indicators, PEPE remains below its 200-day Exponential Moving Average, meaning a confirmed uptrend has not yet formed. However, if the token maintains its position above $0.0000062, it could gain the momentum needed to push toward higher price targets. Analysts predict potential short-term appreciation of 60%, with possible targets at $0.000012 (a 90% increase) and $0.000020 (a 215% rise).
As PEPE navigates these crucial price levels, investors should remain vigilant, watching for continued whale activity and broader market trends. If bullish momentum persists, PEPE could soon break past key resistance points and deliver significant gains for traders and holders alike.
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