After Reminiscent Surge, Pepe (PEPE) Coin Eyes New All-Time Highs

The rally, reminiscent of its prior surges in November 2024 and February 2024, has caught the attention of crypto investors, traders, and even market skeptics.

The meme coin market continues to be a volatile and entertaining domain, and recent days have seen the return of a familiar contender—PEPE. After a brief lull, the crypto token, infamous for its association with the popular meme, has reignited interest among investors.

As of May 12, PEPE is trading around $0.00001425, sparking renewed attention in a potential all-time high. This explosive move is being underpinned by a flurry of technical indicators, growing investor demand, and a spike in trading activity. The PEPE coin price chart reveals a clear bullish pattern, with momentum building for a potential breakout beyond key resistance levels.

Technical Indicators Flash Green on PEPE Price Chart

From a technical standpoint, PEPE is on a wave of bullish momentum. The Relative Strength Index (RSI) is currently above 70, indicating overbought territory but also suggesting robust buying pressure. Similarly, the MACD indicator shows a strong crossover with upward-trending histograms, signaling that buyers are in control.

Pepe price surged over 64% after breaking above its 100-day EMA and closing above the key resistance at $0.000013. Source: WSMS199 on TradingView

More significantly, the Average Directional Index (ADX) is now at 71.88—a rare and powerful indicator that reflects the strength of the ongoing uptrend. “When the ADX is this high, it usually confirms that the trend is very strong and unlikely to reverse in the short term,” noted one analyst from CoinGlass.

Adding to the bullish case, PEPE has broken above its 200-day Exponential Moving Average (EMA) and the 61.8% Fibonacci retracement level of $0.00001426. This move marks a key technical breakout that may open the door to further upside, with the next targets being $0.000016 and $0.000021.

Pepe Coin Price Prediction: $0.000026 and Beyond?

Market watchers are now eyeing $0.000016 as the next critical resistance level. A sustained close above that could lead to a rally toward $0.000021—the January high—and potentially even $0.00002649, based on Fibonacci projections. In a more optimistic scenario, if the current breakout holds, PEPE could reach as high as $0.00003864, according to the depth of the rounding bottom pattern recently confirmed on the PEPE price chart.

PEPE has broken key resistance levels with strong volume, signaling momentum toward the $0.000016 target. Source: MadWhale on TradingView

However, not all signs point to uninterrupted gains. The RSI’s overbought reading raises the possibility of short-term pullbacks or consolidation. If a correction occurs, immediate support lies at $0.000013, followed by deeper support at $0.000010.

Open Interest and Liquidations Fuel Bullish Sentiment

Derivatives data adds more fuel to the bullish case. According to CoinGlass, PEPE’s Open Interest in futures trading has hit a record $595.36 million—up from $398 million just days ago. This reflects new money flowing into the market and is indicative of growing trader confidence.

PEPE Futures Open Interest chart. Source: CoinGlass

The long-to-short ratio increased to 1.09, the highest in more than a month, signaling that most traders are betting on higher prices. Over $3 million in short positions were closed in the past 24 hours, with $1.14 million taking place within just four hours. The closures support the bullish theme because short traders who bet against the market have to close their positions as prices increase quickly.

PEPE Coin Value Holds Firm Amid Exchange Inflows

Despite a significant $10.52 million net inflow of PEPE into exchanges on May 12—and $18.55 million over the past week, the crypto Pepe coin has continued its ascent. This shows that the influx of tokens from sellers is being absorbed by strong buyer demand.

IntoTheBlock data reveals that the average holding time of transacted PEPE remains under one month. This indicates that short-term traders are actively booking profits, while long-term holders appear to be sitting tight, anticipating further gains in pepe coin value.

Pepe Coin News: Hype Meets Fundamentals

While meme coins are often dismissed as speculative, PEPE’s recent performance suggests a blend of social momentum and technical strength. The recent buzz—fueled in part by online communities and even indirect mentions by figures like Elon Musk—has contributed to the latest rally. However, as history shows, such