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PEPE coin is showing strong signs of recovery as whales continue to increase their holdings. Following the Federal Reserve’s meeting and the decision to keep interest rates unchanged, the meme coin has surged nearly 9%, trading at $0.00000837. With the current momentum, many investors are expecting PEPE to break the $0.000010 mark and rally towards the $0.00001465 target — a potential 60% increase.
Cup and Handle Pattern Signals Breakout
On May 7, PEPE surged over 5%, creating a Morning Star candlestick pattern — a sign of trend reversal. Previously, PEPE had experienced a seven-day consecutive bearish streak. Now, the coin has surpassed the 23.6% Fibonacci level at $0.00000823 and is nearing the strong resistance at $0.0000090.
Recent price action shows the formation of a clear “cup and handle” pattern — a classic bullish setup. If PEPE closes above the $0.0000090 level, the pattern will complete, potentially pushing the price up to the technical target of $0.00001465 (corresponding to the 61.8% Fibonacci level).
Technical indicators also support the bullish trend. The Supertrend indicator shows a sustained buy signal, while the MACD and Signal lines are on the verge of a crossover, indicating renewed bullish momentum.
However, if PEPE fails to break the $0.0000090 resistance, the price might retrace to the support at $0.0000075.
Whale Holdings Increase by 24T PEPE
According to data from IntotheBlock, whale holdings (10T to 100T PEPE) have increased by 20% in 2025. From January 1 to May 7, the total PEPE held by whales grew from 119.83 trillion to 144.56 trillion tokens. This massive increase highlights strong underlying confidence and raises the chances of a bull run for PEPE.
Rising Long Positions Defend Against Short Liquidation Risks
According to Coinglass, PEPE’s open interest stands at $396 million, with long positions accounting for 52.78% in the past 4 hours. The long/short ratio of 1.1177 shows a shift toward optimism. The liquidation map also suggests that if the price exceeds $0.00000843, over $1.12 million worth of short positions could be liquidated — fueling the rally further.
With the ongoing recovery, whale buying, and positive market sentiment, PEPE is poised to enter a new growth cycle, with a potential target of $0.00001465.
