Pepe Coin Surges 80% as Whale Transactions Skyrocket

Coin WorldTuesday, May 13, 2025 4:47 am ET
2min read

Pepe Coin (PEPE) has made a significant impact on the cryptocurrency market with an impressive 80% surge in its price over the past week, reaching approximately $0.00001425 as of May 12, 2025. This remarkable performance comes on the heels of Bitcoin's ascent to $104,000, which has reignited interest in the meme coin sector. PEPE's gains have outpaced other popular meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB), which saw increases of 32% and 21% respectively during the same period.

Technical indicators support the bullish momentum of PEPE. The coin has broken above its 200-day Exponential Moving Average (EMA) and the 61.8% Fibonacci retracement level of $0.00001426. The Relative Strength Index (RSI) is currently above 70, indicating overbought conditions but also reflecting strong buying pressure. The Moving Average Convergence Divergence (MACD) shows a positive crossover with upward-trending histograms, further confirming the bullish trend. The Average Directional Index (ADX) at 71.88 suggests that the current uptrend is very strong and unlikely to reverse in the short term.

Whale transactions have increased dramatically, with transactions between $1 million and $10 million surging by 750%. Transactions in the $100,000 to $1 million range increased by 177.94%, while those between $10,000 and $100,000 rose by 173.93%. This surge in whale participation signals growing confidence in PEPE’s upward momentum. A recent example showed a crypto whale quickly closing a position on TRUMP to open a 10x long position on PEPE, reflecting the growing bullish sentiment.

PEPE’s derivatives data provides further evidence of market optimism. Open Interest in futures trading has reached a record $595.36 million, up from $398 million just days ago. The long-to-short ratio has increased to 1.09, the highest in more than a month, indicating that most traders are betting on higher prices. Over $3 million in short positions were closed in the past 24 hours alone, with $1.14 million of those closures happening within just four hours. These forced closures of short positions can create a “short squeeze” effect, potentially fueling further price increases as traders who bet against the market have to buy tokens to close their positions.

Market analysts are now focusing on $0.000016 as the next critical resistance level. If PEPE can close above this level, it could rally toward $0.000021 (the January high) and potentially reach $0.00002649 based on Fibonacci projections. Some technical analysts suggest that if the current breakout holds, PEPE could climb as high as $0.00003864, based on the depth of a rounding bottom pattern that has been confirmed on price charts. However, caution is warranted. With the RSI in overbought territory at 85.40, a price correction in the coming days remains possible. If a pullback occurs, immediate support lies at $0.000013, with deeper support at $0.000010.

The high liquidations of long positions, which have spiked to nearly $5 million on the 12-hour chart, also suggest that a retest of lower support levels may be coming. Many analysts view this as a potential “buy-the-dip” opportunity for confident investors. Despite $10.52 million in net inflows of PEPE into exchanges on May 12 (and $18.55 million over the past week), the coin has continued its upward trajectory. This shows that even with profit-taking, buyer demand remains strong enough to absorb the selling pressure. Data reveals that the average holding time of transacted PEPE remains under one month. This indicates that short-term traders are actively taking profits, while long-term holders appear to be holding on in expectation of further gains.

The meme coin market as a whole has reached a 30-day high of $76.13 billion, buoyed by Bitcoin’s recent strength. Within this rising tide, PEPE has emerged as the standout performer. For now, PEPE traders are watching the crucial $0.000016 level. A decisive break above this resistance could confirm the continuation of the bullish trend, while failure may lead to a retest of support levels before the next leg up.