Pepe coin (PEPE) is showing renewed bullish momentum, gaining nearly 9% following the Federal Reserve’s decision to keep interest rates unchanged. Trading at $0.00000837, PEPE is aiming for a breakout above $0.0000090, with whale holdings significantly increasing in 2025. But can the frog-themed meme coin rally by 60% to reach $0.00001465?
Bullish Cup and Handle Pattern Emerges for PEPE
On May 7, Pepe coin surged by 5.28%, forming a bullish engulfing candle that concluded a streak of seven consecutive bearish candles. The price action created a morning star pattern, typically indicating a trend reversal. The bounce back also positioned PEPE above the 23.60% Fibonacci level at $0.00000823, setting up a potential cup and handle pattern.
This pattern, often seen as a bullish continuation signal, has its neckline at the $0.0000090 resistance level. A confirmed breakout from this level could propel PEPE to the 61.80% Fib level at $0.00001465, aligning with the 60% bullish target. Technical indicators like the Supertrend and MACD are also suggesting a continuation of the upward trend.
Whale Accumulation and Long Positions Drive Bullish Sentiment
Whale holdings of PEPE have surged by 20% in 2025, with balances increasing from 119.83 trillion to 144.56 trillion PEPE, according to IntotheBlock’s Balance by Holding Indicator. This substantial accumulation underscores rising confidence in PEPE’s potential rally.
Meanwhile, data from Coinglass shows that PEPE’s open interest has reached $396 million, with long positions accounting for 52.78% of the market. The long/short ratio of 1.1177 indicates growing bullish sentiment, although a pullback to $0.0000075 remains possible if the cup and handle breakout fails to materialize.
Overall, Pepe coin’s price action suggests that a decisive breakout above $0.0000090 could set the stage for a major rally to $0.00001465. However, failure to clear the neckline could see PEPE retracing to its key support level at $0.0000075.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Pepe Coin (PEPE) Prepares for Potential Rally to $0.000015 After Reclaiming Key Support Zones
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