Pepe Coin (PEPE) recently surged to a high of $0.000015 on May 12 before pulling back to $0.00001250, down 17.8% from its peak. Despite this minor correction, technical and fundamental indicators suggest a potential strong rebound for the third-biggest meme coin.
The daily chart reveals Pepe formed a double-bottom pattern around $0.00000577 earlier this year, followed by a breakout above the neckline at $0.000009215. This triggered a parabolic rally, forming the flagpole of a bullish flag pattern—a reliable sign of a potential sharp breakout. A confirmed breakout above $0.00001535 could push Pepe toward the 38.2% Fibonacci retracement at $0.000020 and even challenge its all-time high near $0.00002840.
On-chain data strengthens this outlook. Whale wallets holding 10 million to 100 million tokens have increased their stakes from 3.9 trillion in February to 4.02 trillion tokens. Additionally, its tokens on centralized exchanges have declined, indicating reduced selling pressure and increased investor confidence.
Together, these factors point to a bullish trend for the Coin, with strong upside potential in the near term.
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