PEPE Price Forecast: Meme Coin's Mild Recovery Sets Up Next Bull Run

PEPE, the third-largest meme coin by market capitalization, is showing signs of a steady recovery, with its price holding steady around $0.00000440 at press time on Friday. This mild rebound has been sustained for the fourth consecutive day, extending its gains from Tuesday's low at $0.00000406.

The PEPE price has maintained firm retail support, with its futures Open Interest stabilizing above $320 million and funding rates remaining positive. This suggests strong demand among traders to buy long positions at a premium.

According to CoinGlass data, PEPE's futures Open Interest edged marginally higher over the last 24 hours to $322.92 million. The funding rate remains positive at 0.0109%, indicating a steady buildup of open positions.

Technical analysis suggests that PEPE's mild recovery could set the next bull run in motion. The meme coin trades in the green for the fourth consecutive day, and its price hovers well above the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) at around $0.00000379, $0.00000354, and $0.00000373, respectively.

A confirmed breakout could target the 161.8% and 200% Fibonacci extension levels at $0.00000567 and $0.00000650, measured from $0.00000456 to $0.00000320. However, initial support is seen at the $0.00000400 trendline break level, followed by the 50- and 200-day EMAs, which form a support cluster near $0.00000379 and $0.00000373.