Pepe Coin (PEPE) Surges 1.68% as Holders Increase 39.01%

Pepe Coin (PEPE) has surpassed 463,000 holders, indicating a significant increase in retail participation. This surge in holders aligns with several technical and on-chain indicators that suggest potential upward momentum for the memecoin. Currently, PEPE is trading at approximately $0.00001252, with a 1.68% gain in the past 24 hours. The increasing number of holders is a key metric for memecoin success, often preceding periods of heightened volatility and price appreciation. New retail participants entering the market typically signal growing confidence in an asset’s prospects.

Technical analysis reveals a clear cup-and-handle formation on PEPE’s daily chart, a pattern traditionally associated with bullish continuation. The handle appears to be nearing completion with price action occurring just below the critical $0.00001580 resistance zone. The Directional Movement Index (DMI) supports this bullish outlook, with the positive directional indicator (+DI) at 35.3 substantially exceeding the negative directional indicator (-DI) at 12.7. This disparity demonstrates strong buyer dominance in the current market. Additionally, the Average Directional Index (ADX) registers at 23.0, indicating a developing trend with room for further strengthening. A confirmed breakout above resistance could trigger accelerated upward momentum.

On-chain metrics further support the positive outlook. New addresses have increased by 39.01% over the past week, while active addresses have climbed 38.43% during the same period. Zero-balance wallets have surged by 42.41%, reflecting heightened wallet churn and increased market participation. This expansion in user activity signals rising confidence and growing token utility, potentially adding organic buying pressure to the market. Large transactions have also increased by 6.63%, suggesting strategic accumulation by whale investors.

Data indicates whales have continued accumulating PEPE coins, with holders possessing between 10 million and 100 million tokens increasing their positions to over 4.07 trillion tokens, up from 3.9 trillion previously. Perhaps more telling is the declining supply held on exchanges, which has fallen to 98.9 trillion from 214 trillion in August last year. This reduction in exchange balances is typically viewed as bullish, as it suggests investors are moving tokens to self-custody wallets with intentions to hold rather than sell. The MVRV (Market Value to Realized Value) indicator has recently exited negative territory and is pointing upward. This transition from sub-zero levels, where the asset was considered undervalued, to positive territory signals building bullish momentum.

For PEPE to confirm its bullish outlook, the token must close decisively above the $0.00001580 resistance level to validate the cup-and-handle pattern. A successful breakout could open the path toward the $0.000030 level, representing substantial upside potential from current prices. Failure to breach this key resistance might lead to short-term consolidation. Traders should monitor for rising volume and continued holder growth as confirming signals of sustained momentum. PEPE last rebounded after forming a falling wedge pattern, a recognized bullish reversal indicator. The token has already moved above the upper boundary of this pattern, with technical indicators like MACD and RSI trending upward. The recent price movements for PEPE coincide with broader market strength, as Bitcoin reached new highs and Ethereum approached the $3,000 level. Historical patterns suggest Ethereum ecosystem tokens often benefit from ETH price appreciation.