Pepe Coin Surges 5.28% as Whale Accumulation Boosts Bullish Momentum

Pepe Coin (PEPE) has demonstrated resilience in recent trading sessions, recovering from key support levels and showing early signs of a bullish reversal. The meme coin is currently trading around $0.00000817, having bounced back from recent lows near $0.00000760. The price action on the 4-hour chart reveals a clean rebound from the $0.00000760-$0.00000790 demand zone, an area that has historically served as a support for accumulation phases. Today’s upward movement marks a break in the recent lower-high pattern that had been dominating PEPE’s price structure. The token is now targeting the downtrend resistance at $0.00000835, with potential to reach $0.00000888 if momentum continues.

On the daily chart, PEPE is pressing toward the mid-Bollinger band at $0.00000840. A close above this level would provide further confirmation of bullish control over the short term. Several technical indicators support this rebound thesis. The Stochastic RSI has completed a bullish crossover from oversold territory, which has historically preceded short-term rallies for the token. The MACD and Signal lines hint at a potential crossover as bullish momentum resurfaces. The Supertrend Indicator also signals a sustained bullish outlook as PEPE trades above $0.0000075.

A key factor fueling the current optimism around PEPE is substantial whale accumulation. Whale holdings, defined as accounts holding 10-100 trillion tokens, have increased by 20% in 2025. These large holders have added approximately 24 trillion PEPE to their positions since January 1, growing from 119.83 trillion to 144.56 trillion as of May 7. This level of accumulation by larger investors often signals strong underlying confidence in an asset. The meme coin recently jumped nearly 9%, showing resilience even amid the Federal Reserve’s decision to keep target rates unchanged. Trading at $0.00000837 at the time of writing, PEPE appears poised to challenge the important $0.000010 threshold.

Price action on May 7 saw PEPE surge 5.28%, creating a bullish engulfing candle and completing what chart analysts call a morning star pattern. This formation typically signals a trend reversal. The intraday recovery of 2.20% marked the end of a declining trend that had produced seven consecutive bearish candles. PEPE has now surpassed the 23.60% Fibonacci retracement level at $0.00000823 and appears to be challenging the longstanding $0.0000090 resistance zone. The recent price movements reveal what appears to be a cup and handle pattern. The reversal from $0.00000576 in early April and the recent bounce complete this bullish formation, with the neckline coinciding with the $0.0000090 supply zone. A daily close above this neckline would confirm the breakout potential, possibly propelling PEPE toward a price target of $0.00001465, the 61.80% Fibonacci level.

Derivatives data adds another layer of support for the bullish case. PEPE’s open interest stands at $396 million, with long positions reaching 52.78% in recent hours. The rising long/short ratio suggests growing market optimism. The current positioning helps defend against the $1.64 million long liquidation risk at $0.00000832. If the current uptrend continues, a potential $1.12 million short liquidation at $0.00000843 could trigger a squeeze, further fueling PEPE’s rally and increasing chances of breaking the key $0.000010 level. For May, the outlook now appears more constructive, with the bounce from $0.00000760 establishing what could become a higher low in the larger pattern. If bulls push through the $0.00000888 resistance, the breakout structure would open the door toward retests of $0.00000952 and potentially $0.00001080. Failure to clear these resistance levels could lead to continued compression within the $0.00000759-$0.00000835 channel, with downside risk only reigniting if prices fall below $0.00000700. The broader trend now depends on confirmation above the descending trendline and whether any breakout is supported by increased trading volume.