Key Takeaways
PEPE forms a bullish cup-and-handle, with DMI showing strong buyer strength. Derivatives, network activity, and whale interest support breakout potential.
Pepe [PEPE] has now exceeded 463,000 holders, highlighting a surge in user acquisition and retail enthusiasm.
This significant milestone comes at a time when memecoins are regaining momentum across the Ethereum [ETH] ecosystem.
While the market remains cautiously optimistic, PEPE’s rising holder count reflects increasing faith in its long-term potential.
In between this on-chain growth, PEPE is trading around $0.00001252, gaining 1.68% in the past 24 hours, at the time of writing.
This uptick in holders suggests renewed retail participation, which often precedes speculative rallies and heightened volatility.
Is a bullish breakout brewing?
A clear cup-and-handle formation has emerged on PEPE’s daily chart, hinting at a potential bullish continuation. The handle is nearing completion, with price hovering just below the $0.00001580 resistance zone.
If this neckline breaks, a rally toward $0.000030 could follow. The Directional Movement Index supports the bullish case, with +DI at 35.3 well above -DI at 12.7, indicating strong buyer dominance.
Meanwhile, the ADX sits at 23.0, signaling a developing trend that still has room to strengthen. Therefore, a confirmed breakout could trigger accelerated upside momentum.
How confident are PEPE traders?
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Author: Erastus Chami
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