The PEPE price surge is grabbing headlines again

James Wynn, a widely followed market expert, believes the frog-themed meme coin is on the verge of a bullish wave

The price surge of PEPE, the frog-themed meme coin, continues to grab headlines. Among those tracking the coin's price action is James Wynn, a widely followed market expert who claims that PEPE is nearing a "bullish wave."

While providing an update on his technical outlook, Wynn notes that the short-term goal for bulls is to breach the psychological resistance at $0.00001. He calls this barrier a "key test" for the bulls and adds that if this level breaks, then PEPE could quickly move toward $0.00001050, which he calls the next "take profit" zone.

Chart 1: PEPE/USD live price, published on TradingView, April 23, 2025.

Also, there is excitement building around a classic technical pattern, the cup and handle, which often signals extended upside.

"Since everyone is asking for $PEPE TA updates again, I’ll start them up again. I see short-term resistance around 0.00001000 (psychological resistance). And clear resistance / take profit zone at 0.00001050. Here we will see a cup form. Where short-term traders take profit, long-term traders will come in to hold and build the price. We will then see FOMO kick in and take us to the next leg up. Maybe 0.000018 or 0.00002. We will see. But I’m thinking closer to 0.000018 as we get a nice 3-touch on that Fib on the chart if you zoom out a bit. Averages out to 7,220% potential surge from the ATH. Like ETH back in the day. I’m not saying it will get there but anything is possible in crypto. We will see what plays out. It’s a long way up but we have plenty of time to get there. No rush at all. Let’s see how this plays out. It’s going to be interesting to watch retail traders come in more and more. They will play a big part in this move up. We are in a good bull phase now so we can usually count on seeing good, healthy pullbacks to get back in at lower prices. But if you miss out on this move up completely then don’t be surprised to see a big gap up and FOMO kick in to take the price higher in a hurry. You snooze, you lose. Get some entries in now while the heat isn’t on yet. Good luck out there traders!

The term "PEPE growth" has been tossed around a lot this week. According to Wynn, once the cup and handle formation completes and the resistance turns into support, the next leg up might be driven by FOMO (fear of missing out). This emotional trigger has historically sent meme coins to new highs, leading to staggering gains.

Pointing to the Fib levels on a broader time frame, Wynn highlighted a potential surge to $0.000018, which would mark an astounding 7,220% rally from the all-time high. To put this magnitude of move into perspective, he likened it to the legendary bull run of Ethereum (CRYPTO: ETH) in the past.

For investors venturing into speculative growth plays, the current market positioning of PEPE offers both excitement and volatility. It will be interesting to observe how this tale unfolds further, especially with retail traders beginning to take notice of the frog-themed meme coin.