Pepe (PEPE), the popular memecoin, has crossed a significant milestone, now boasting over 463,000 holders. This surge highlights growing user acquisition and retail enthusiasm, coinciding with a broader regaining of momentum for memecoins within the Ethereum ecosystem.
While the broader crypto market maintains a cautious optimism, PEPE's increasing holder count suggests rising confidence in its long-term potential. At the time of writing, PEPE is trading around $0.00001252, having gained 1.68% in the past 24 hours. This uptick in holders often precedes speculative rallies and heightened market volatility.
Technical analysis reveals a clear cup-and-handle formation on PEPE's daily chart, a pattern that typically signals a bullish continuation. The "handle" portion of this pattern is nearing completion, with PEPE's price hovering just below the key $0.00001580 resistance zone. A decisive break above this neckline could trigger a significant rally, potentially pushing PEPE towards $0.000030.
Supporting this bullish outlook is the Directional Movement Index (DMI), where the +DI (35.3) is well above the -DI (12.7), indicating strong buyer dominance. Furthermore, the Average Directional Index (ADX) at 23.0 suggests a developing trend with room to strengthen. A confirmed breakout above resistance, accompanied by increased volume, could accelerate this upward momentum.
The derivatives market for PEPE is showing clear signs of escalating bullish sentiment. Trading volume has surged by over 60% to $3.67 billion, while Open Interest (OI) has climbed 8.20% to $705.27 million. These metrics are a strong indicator of rising speculative demand, as traders increasingly bet on further price appreciation.
The OI-Weighted Funding Rate remains positive at 0.0107%, signifying that long positions are dominating market sentiment. This sustained positive rate suggests that bulls are willing to pay a premium to maintain their positions, aligning with the bullish technical chart pattern. Overall, PEPE's Futures activity reflects heightened trader optimism and a commitment to upward price movement.
PEPE's on-chain growth has been accelerating, with new addresses up 39.01% and active addresses climbing 38.43% over the past week. Even zero-balance wallets surged by 42.41%, indicating intensified wallet churn and increased speculation. This expansion in user activity signals rising confidence and potentially growing token utility, which could translate into sustained buying pressure.
Concurrently, whale interest is also increasing, with large transactions rising by 6.63%. This is often seen as a strong sign of strategic accumulation by major holders. Historically, such synchronized growth in both retail adoption and whale inflows has preceded significant price rallies. If these trends continue, PEPE could gain the necessary momentum to convincingly breach key resistance levels.
PEPE's bullish outlook is underpinned by strong retail growth, a promising chart pattern, robust derivatives demand, and increasing whale activity. However, the token's ability to close decisively above $0.00001580 is crucial to validate the cup-and-handle formation. Without this definitive breakout, momentum could fade, potentially leading to short-term consolidation. Traders will be closely watching for rising volume and continued holder growth as confirming signals. A successful breakout could open the door to the $0.000030 target, while a failure might result in further sideways movement.
Do you think PEPE has what it takes to break through its resistance and hit new highs?
July 2025, Cryptoniteuae