TLDR
- PEPE has broken out of a symmetrical triangle pattern after weeks of consolidation
- Robinhood sold $15 million worth of PEPE but remains the second-largest holder with 3.67% of supply
- Technical analysis shows potential for a 91% rally to $0.00002836 if resistance at $0.00001483 is breached
- PEPE price is currently at $0.000014 with key resistance levels at $0.00001477 and $0.0000178
- Both spot and derivatives markets show growing buying momentum despite the major sell-off
The popular Ethereum-based meme coin Pepe (PEPE) has finally broken out of its consolidation phase, with technical indicators suggesting a potential rally ahead. After weeks of sideways movement within a symmetrical triangle pattern, PEPE has breached the upper trendline, signaling what could be the start of a strong upward move.
As of May 22, 2025, PEPE is trading at approximately $0.000014, having posted an 8% gain in the last 24 hours despite facing selling pressure from a major holder.
Market data reveals that a wallet linked to Robinhood sold approximately $15 million worth of PEPE tokens in the past day. This kind of sell-off from a major player would typically drive prices down.
However, PEPE has maintained its price levels, which many analysts view as a sign of underlying strength in the market.
Despite this sell-off, Robinhood remains the second-largest holder of PEPE, controlling 3.67% of the supply, valued at around $209.9 million.
Technical Outlook Points to Higher Targets
Short-term analysis using the 4-hour chart shows PEPE trading within a symmetrical triangle pattern. This formation could push PEPE up by approximately 12.24%, potentially reaching a target of $0.00001541.
Looking at longer timeframes, the daily chart reveals PEPE trading within a cup-and-handle pattern, another bullish indicator. For this pattern to play out, PEPE must break through resistance at $0.00001483.
If successful, this breakout could trigger a rally of up to 91%, taking PEPE to $0.00002836 – a price level not seen since December 2024.
Key technical indicators support this bullish thesis. The 4-hour Relative Strength Index (RSI) is successfully defending the 50 support level and trending upward, suggesting continued bullish momentum.
Other oscillators such as Momentum (10) and MACD Level (12, 26) are now flashing buy signals in the daily timeframe according to TradingView data.
For traders looking to enter positions, two key resistance levels should be watched closely: $0.00001477 and $0.0000178. If PEPE manages to flip these levels to support, analysts suggest it could form 10%-20% daily candles toward new all-time highs.
Some market forecasts are even more optimistic. Solberg Invest projects that PEPE could reach $0.000025, potentially in the second quarter of 2025.
In the long term, popular trader Kaleo has suggested that a $10 billion to $20 billion market capitalization is possible for the meme coin.
Growing Market Momentum
Current data indicates building momentum in both spot and derivatives markets for PEPE.
In the spot market, buying interest has been gradually increasing, with $335,000 worth of PEPE purchased so far.
The derivatives market shows similar bullish sentiment, with the open interest-weighted funding rate standing at 0.0127%, confirming positive market outlook.
Many investors view PEPE as a beta play on the broader crypto market, particularly on Ethereum. With Bitcoin targeting $140k-$160k and Ethereum poised for a rally to $4000 by year-end, the outlook for PEPE appears favorable.
Bitcoin and Ethereum have already breached their respective key resistance levels of $107k and $2,550. This breakthrough in the major cryptocurrencies may provide additional support for PEPE’s upward move.
As momentum continues to build across both market segments, PEPE stands poised to potentially achieve both its short-term targets and approach its longer-term goals.
The most recent data shows buying interest has been gradually building again, setting the stage for what could be PEPE’s next major price move.
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