Key Takeaways

• PEPE remains in a strong position after a 5-day rally, despite a slight 1% dip.

• Trading volume increased 18%, showing sustained trader interest.

• Technical setup suggests a retest of $0.00001500, with a 19% potential upside.

• Support at $0.00001100 is critical to avoid deeper corrections.

• Speculation about PEPE reaching $10 is unrealistic due to astronomical market cap implications.

Bullish Setup Or Overheated Market?

On May 22nd, PEPE futures OI (Open Interest) surged to a record-breaking $695 million, coinciding with the token’s local peak of $0.00001552. This surge indicated increased speculation and growing leverage, a common pattern during explosive meme coin rallies.

PEPE Futures OI

Source: Coinglass

Even though the price has pulled back slightly since that peak, the broader meme coin sector is experiencing a revival. This signals a potential second wind for PEPE, especially if current support levels continue to hold.

PEPE Price Analysis: Trend Line Retest In Focus

Technical Breakdown

PEPE recently broke below its trend line support on May 30th amid a broader crypto market correction. Notably, this move was supported by high trading volumes, suggesting genuine selling pressure rather than a shallow dip.

At the time of the breakdown, the Relative Strength Index (RSI) had already exited overbought territory, indicating weakening bullish momentum. Additionally, a bearish death cross formation appeared, as both the 9-day and 21-day exponential moving averages (EMAs) crossed below the 200-day EMA.

Despite these bearish signals, PEPE is now retesting the 200-day EMA from below—and early signs suggest a rejection may be forming.

Short-Term Price Target: $0.00001500

If momentum resumes and PEPE manages to reclaim critical levels, the next major resistance lies around $0.00001500. A successful retest of this area could provide a potential 19% upside from current levels.

PEPE Price Analysis

Source: TradingView

However, failure to break through this resistance zone could trigger a deeper correction, especially if the price falls below the important $0.00001100 support level. For now, holding that support keeps the bullish short-term thesis intact.

Can PEPE Hit $10? Here’s Why That’s Unrealistic

While PEPE has shown significant gains in recent months, speculation about the token reaching $10 is highly unrealistic. For context, such a price level would push PEPE’s market cap to over $4.2 quadrillion, an impossibility within any rational financial model.

That said, modest upside remains viable if meme coin euphoria continues and Bitcoin maintains strength. While $10 is clearly off the table, the meme coin could reclaim local highs and explore new territory in the $0.000015 to $0.000017 range.

PEPE Price Prediction: Summary

• Short-Term Target: $0.00001500 if support holds and momentum resumes.

• Support Level: $0.00001100 is the key zone to watch.

• Resistance Area: $0.00001500–$0.00001552.

• Long-Term Outlook: Bullish bias remains as long as macro meme sentiment stays positive.

FAQ

What is PEPE’s current market cap?

As of now, PEPE has a market capitalization of approximately $5.4 billion, making it one of the largest meme coins by valuation.

Is PEPE a good buy right now?

PEPE may present a short-term trading opportunity if it holds above key support levels. However, it’s essential to manage risk, especially in the volatile meme coin space.

Can PEPE reach $10?

No. Reaching $10 would imply a market cap over $4.2 quadrillion, which is economically implausible. Realistic targets are in the $0.000015 to $0.000017 range for now.

What are the risks of investing in meme coins?

Meme coins are highly volatile and speculative. While they can offer high returns, they also carry risks such as rapid price swings, lack of utility, and dependence on community sentiment.

Are there better alternatives to PEPE?

New projects like Solaxy (SOLX) on the Solana (SOL) blockchain are gaining popularity and may offer better upside potential in the current meme coin cycle.