Nearly every cryptocurrency investor has their eyes on PEPE this week as the popular meme coin surged an impressive 11% in just 24 hours, reaching $0.0000087 and continuing its remarkable upward trajectory. The frog-themed token has leaped even higher over longer timeframes, with a 17.72% gain over the past week and a staggering 106.4% increase in the last month, cementing its position as the 22nd largest cryptocurrency by market capitalization.
Technical indicators are painting a bullish picture for PEPE enthusiasts. Like a hibernating frog sensing spring’s arrival, the token has broken out from a descending triangle pattern on the 4-hour chart while its Relative Strength Index (RSI) recovers from oversold territory. The cup-and-handle formation—imagine a frog sipping from a pond before making a jump—suggests potential for further upward movement. The RSI currently sits at 56.86 neutral sentiment, indicating room for growth before reaching overbought conditions.
PEPE’s technical awakening mirrors a frog leaping from slumber—breaking patterns and forming cup-and-handle signals that promise higher jumps ahead.
On-chain metrics reinforce this optimistic outlook. Exchange reserves decreased 0.73% in the past week, often a sign investors are holding rather than preparing to sell. Meanwhile, new addresses grew 1.06%, active addresses increased 1.73%, and perhaps most tellingly, zero-balance addresses surged nearly 20%—suggesting new investors are entering the PEPE pond. This growing adoption reflects the broader trend of DeFi innovation replacing traditional banking systems with more accessible financial opportunities.
Whale movements are creating ripples throughout the ecosystem. Recent transactions show notable activity, with 430 billion PEPE ($6.39 million) deposited to Binance and another 325.5 billion moved to exchanges. Analysts predict this pattern could continue into 2025, with potential price stabilization around 0.00002790 by year-end. This heavy splashing could signal large players positioning themselves ahead of anticipated price movements.
Market sentiment has shifted dramatically, with social sentiment scores bouncing from a negative -0.77 to a positive +0.387. Trading volume has more than doubled, increasing 120.60% to $2.75 billion, while the Fear & Greed Index has crawled out of “extreme fear.”
As PEPE tests the psychologically important $0.00001000 mark, analysts are eyeing potential targets ranging from $0.00001072 in the short term to considerably higher valuations by 2025. However, as with all meme coins, investors should remember that even the most promising lily pad can sometimes sink unexpectedly.
