PEPE shows breakout strength with volume and support at $0.000011.
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Key Takeaways
PEPE has broken above a falling wedge pattern, suggesting the end of its bearish trend.
The CMF has crossed into positive territory, and BB is expanding, indicating rising demand.
Over 34 trillion PEPE held at the current price are in profit, forming a solid support zone
Like other cryptos in the market, the frog-themed meme coin Pepe (PEPE) has seen its price jump in the last 24 hours. PEPE’s price has increased by 6.58% within this period while trading at $0.000011.
While some altcoins and meme coins might see the bullish run fizzle, PEPE does not seem likely to experience such a flurry soon. This analysis explains what made PEPE’s price break this high and what could be next for the cryptocurrency.
PEPE Leaves Bearish Trend Behind
For weeks, PEPE’s price was trading in a downtrend, making higher and lower lows on the daily chart. This decline eventually led to the formation of a falling wedge.
Today, the memecoin has broken above the upper trendline of the wedge, indicating that the bearish phase could be over. Alongside this breakout, the Chaikin Money Flow (CMF) has risen above the zero signal line.
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This indicates rising buying pressure, which could drive PEPE’s price higher. In addition to the CMF, the Bollinger Bands (BB) have begun to expand.
This BB position indicates that PEPE might soon experience high volatility. Should buying pressure increase amid the rising volatility, PEPE’s price might break the resistance at $0.000013 and $0.000015.
On-chain metrics continue to support PEPE’s bullish case, with IntoTheBlock’s In/Out of the Money Around Price (IOMAP) analysis highlighting a significant support zone near $0.000011.
At this level, roughly 5,850 addresses hold approximately 34.29 trillion PEPE tokens in unrealized gains, forming a substantial cushion against downward pressure.
This cluster of profitable holders significantly outweighs the volume near overhead resistance, indicating limited sell-side pressure.
With no major buy walls immediately above, PEPE could find a clear path toward breaching the $0.000013 and $0.000015 levels previously flagged as key targets.
PEPE In/Out of Money Around Price | Credit: IntoTheBlock
PEPE Price Analysis
Looking at the daily chart again, CCN observed that PEPE has risen above the 20-period Exponential Moving Average (EMA) (blue), which validates the signs shown by the IOMAP that the meme coin has strong support to push it higher.
Additionally, trading volume has increased, indicating enough strength to keep PEPE’s uptrend intact. If this volume continues to rise, PEPE might evade a notable correction.
Instead, the memecoin’s value might break the $0.000015 resistance. In that scenario, the value could climb by 50% and hit $0.000017.
Should buying pressure increase, PEPE’s price might hit $0.000020. On the contrary, a rise in selling pressure and a decline in demand might invalidate this forecast.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
