Pepe Coin Explodes 17%, Breaking Resistance and Drawing Renewed Investor Interest

Pepe Coin's recent breakout above $0.0000075 has fueled speculation of a bullish continuation.

Pepe Coin price broke above a key resistance level at $0.0000075 and surged 17% in the past week, drawing renewed investor interest. The token had been forming a falling wedge pattern, which traders often view as bullish.

After a prolonged downtrend, crypto traders observed a potential shift in market momentum as Pepe broke through the $0.0000075 support, suggesting that the accumulation phase might be complete. A successful confirmation could propel the token toward the next resistance level at $0.000021.

However, traders remain cautious as market sentiment could shift, leading to a return in price retracements as investors respond to changing economic and market conditions.

Increased Derivatives Activity Signals Fresh Capital Inflow

Pepe’s rally has also triggered an uptick in derivatives trading, further reflecting increased market participation. Futures open interest rose 14.33% to $256.97 million, while derivatives volume surged 13.76% to $708.44 million.

The rising open interest signals that fresh capital is flowing into the market, reinforcing bullish expectations. Moreover, increased derivatives activity usually leads to heightened price volatility as leveraged traders amplify movements in both directions.

Analysts are now making bold price projections, citing technical patterns that hint at further upside. For instance, Ali Martinez noted that Pepe Coin recently formed an inverse head and shoulders pattern—a setup typically signaling a bullish reversal.

“The token breaking above the $0.0000075 neckline resistance could lead to a substantial price increase, potentially aiming for a 38.2% Fibonacci level from the recent swing high, around $0.000381.”

Other analysts, including CryptoELITES and World of Charts, have also shared similar views, further reinforcing the bullish outlook on Pepe.

While predictions of a 40X price explosion remain speculative, the technical setup supports optimism. However, traders remain cautious, as market conditions and external factors will ultimately determine Pepe’s trajectory.