Pepe Coin Surges 10% on $500 Million Volume Spike

Pepe Coin has experienced a significant resurgence, defying bearish sentiment with a sudden $500 million volume surge that has reignited trader excitement. The late Monday spike saw traders turn bullish on near-term price action, with a 10% gain marking a potential renewed push in the Pepe price forecast. This surge comes as risk-on sentiment returns to the meme coin scene, with easing tensions between Iran and Israel turning attention back to macro catalysts. The headwinds created by the U.S. tariff war narrative are starting to clear, with a China trade deal, EU willingness to enter trade talks, and an India deal expected soon.

However, the sudden pump has since reversed back to the $0.0000095 launchpad that triggered it, raising questions about the bullish pressures. The weekend saw a sharp rise in the 4-hour RSI from oversold conditions near 30 to overbought levels at 70, but the move lacked follow-through, triggering a swift correction that signals weak conviction. This sharp decline in whale activity suggests major holders are hesitant to accumulate, likely waiting for further downside before re-entering the market. This comes as the profit-to-loss ratio reaches its highest level since May, soaring to 2.55 according to Santiment data—there’s $2.55 in unrealized gains for every $1 in losses. This heightened risk of profit-taking could explain why smart money is standing by on the Pepe price move, adding weight to the case for short-term caution.

The ongoing retest of key support at $0.0000095 could be key to the breakout of a 6-month cup and handle pattern. This level marks the final barrier to a newly forming uptrend, with pressure building at a confluence zone where price action meets the handle’s upper resistance trendline. Since completing the corrective phase of a potential Elliott Wave structure, the setup favors a bullish continuation aligned with the broader trend of the pattern. The MACD supports this outcome, building a marginal lead above the signal line after a weekend golden cross—early signs that the uptrend could persist into the short term. More so, the RSI also finds stability in an uptrend below the neutral line, moving away from recent bearish dominance. Should the breakout occur, the pattern projects a target near $0.000020, representing a 117% move from current levels. However, if $0.0000095 fails to hold, the next major support lies near $0.0000079—aligned with the end of the final corrective C wave of the Elliott wave formation—potentially signaling a deeper correction.