Pepe Coin (PEPE) Price Spikes by 9% Targeting $0.00001465 Cup and Handle Breakout

On May 8, 2025 yesterday, the price of Pepe Coin (PEPE) surged by almost 9%, making it through the Fed's meeting and their decision to keep the benchmark interest rate on hold.

The price of Pepe Coin (PEPE) rose nearly 9% on Monday, May 12, trading at $0.00000837 at 07:38 ET.

This move saw PEPE pass the threshold of the Fed’s meeting and their decision to keep the benchmark interest rate on hold.

Is this new momentum going to push Pepe up 60% to $0.00001465?

Pepe Price Spike Eyes Cup and Handle Pattern Breakout

The price of Pepe increased by 5.28% on May 7, forming a bullish engulfing candle which completed a morning star pattern.

This pattern usually signals a trend reversal, as seen by the 2.20% recovery in today’s session. It also ended the downtrend of this meme coin which had seen seven consecutive bearish candles.

See Also: MOODENG Crypto Soared 91% Today (May 9): What Happened?

Now, PEPE has crossed the 23.60% Fibonacci level at $0.00000823 and is preparing to challenge the strong resistance at $0.0000090. The shift in the trend of this meme coin also shows the formation of a cup and handle pattern.

The price reversal from the $0.00000576 low point in early April and the recent spike completed this pattern. The neckline of this pattern coincides with the critical supply zone at $0.0000090.

A decisive daily candle close above the neckline will confirm a breakout from the cup and handle pattern. This breakout has the potential to propel the price of PEPE to the target of $0.00001465 (61.80% Fibonacci level).

This target is determined by adding the depth of the “cup” to the breakout point. This aligns with price predictions for Pepe Coin which anticipate a return of the bullish trend on this frog-themed coin.

As long as PEPE remains above $0.0000075, the Supertrend indicator continues to display a bullish outlook.

Additionally, the MACD and Signal lines are approaching a potential crossover, signaling a possible return of positive momentum. Thus, the technical indicators favor a potential uptrend in the price of PEPE.

However, if it fails to break through the neckline, then Pepe Coin is likely to experience another decline. In this case, the price could retest the critical support level at $0.0000075.

Whale Ownership Adds 24 Trillion PEPE In 2025

According to data from IntoTheBlock’s Balance by Holding, the ownership of PEPE by whales (with holdings between 10 trillion and 100 trillion) increased by 20%.

The total holdings went up from 119.83 trillion PEPE on January 1 to 144.56 trillion on May 7.

This huge surge showcases the strong belief of large investors in PEPE’s prospects, ultimately increasing the potential for a significant rally.

Strong Long Positions Protect Short Liquidation Risk

According to data from Coinglass, PEPE ‘ s Open Interest currently stands at $396 million, with long positions touching 52.78% in the last 4 hours. The rise in the long/short ratio to 1.1177 indicates increasing market optimism.

Solana Price Prediction: SOL Potential To Surge To $500? Here’s What Analysts Say

According to the Pepe Liquidation Map, this buildup of positions also maintains the risk of liquidating $1.64 million worth of longs at the $0.00000832 level.

With the uptrend persisting, the risk of short liquidation of $1.12 million looms at $0.00000843.

If the price continues its ascent and reaches this level, it could trigger a large-scale liquidation of short positions, which in turn might propel a further surge in the price of PEPE. This increases the chances of a breakout above $0.000010 and sets the stage for a bullish rally towards the $0.00001465 target.

This is the latest information about crypto. Follow Benzinga for more news and analysis on the emerging Central Web technology. Read More: How To Invest In Real Estate With $500 In 2023