PEPE (PEPE) jumped 8% today to $0.0000012, while the broad crypto market declined 1%. That bullish divergence signals a potential breakout of the meme token. PEPE gained 6% for the past week, and 18% for the past two weeks, while it declined 13% for the month.
The recent rally signals a shift in sentiment, as trading volume hits its monthly high. PEPE’s relative technical factors are moving strongly, rising out of oversold regions and indicating strong momentum. Today’s surge could mark the beginning of a bigger picture trend, with ongoing upward direction.
PEPE price strength builds on RSI breakout
PEPE’s relative strength index (RSI) has gone through the 50 level and now approaches 60, indicating rising bullish pressure. Simultaneously, its MACD heads towards a bullish crossover, which has proven a good indicator for subsequent price appreciation. Such trends indicate PEPE may still have much room to keep appreciating.
Daily trading volume has expanded from $350 million to a staggering $1.7 billion, a whopping 385% increase. That explains the higher demand and new optimism, especially among the whales accumulating sizable positions. With the new year 2025 starting with oversold conditions, analysts are anticipating upward revisions good enough to push PEPE and the entire market higher.
Price target: Will PEPE go to $0.00005?
CryptoELITES predicted a possible 40x PEPE surge by November, such a forecast shows the optimistically rosy sentiment that currently exists for the token. Short-term targets are to remain above $0.000013, while a breakout through $0.000015, a resistance area last prominent in June, is back in focus.
More significantly, the prime area remains the area around $0.00002 and $0.000025, the breakdown area that was used earlier this year. PEPE’s break and hold through the level clears the way to the target at $0.00005. But that would require meme coin hype, celebrity endorsement, or significant exchange listing news.
As the RSI continues higher yet still below overbought levels, a history of another strong leg higher exists. Speculators are now looking to see PEPE hold the breakout and enter the $0.000015–$0.00002 range over the next sessions. If the sentiment remains bullish, PEPE may surprise the market with a significant rally.
