PEPE Price Surges 18% as Bulls Eye $0.000005
PEPE's price has surged nearly 18% to $0.00000411, breaking out of a months-long downtrend as buyers pushed through a key technical barrier.
The breakout arrives during a broader risk-on move across the crypto market, with capital rotating into high-beta meme coins and PEPE being one of the strongest beneficiaries.
With PEPE now above its descending trendline, bulls are eyeing $0.000005 as their next target, representing a 22% additional upside from current prices.
The derivatives market is also showing signs of leverage, with PEPE futures volume at approximately $2.12 billion and open interest having jumped 143.20% to $313.21 million.
On-chain data supports the accumulation narrative, with seven PEPE transactions above $1 million since mid-March and top non-exchange wallets increasing their holdings by about 3.54 trillion PEPE.