Pepe Coin Price Surges 68% as Bitcoin Hits $104K, 80% Rally Expected
By: fxleaders|2025/05/13 18:15:05
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PEPE has gained 68% in the last week, outperforming Dogecoin (32%) and Shiba Inu (21%) as market risk appetite returns. Bitcoin hitting $104,000 has boosted sentiment across the meme coin space and helped PEPE reclaim the $0.000010 psychological level and get some fresh momentum. Now at $0.00001400, PEPE is close to a breakout, with investors looking at $0.00001540 and $0.00002209 (80% from current price) as targets. The meme coin market as a whole has reached a 30-day high of $76.13 billion, showing increasing interest in altcoins. PEPE Technical Analysis: Momentum Above Key Support PEPE/USDT is above the $0.00001289 support zone where the 50-period EMA meets the ascending trendline. This confluence has been bullish in the past and PEPE’s bounce from here suggests bulls are still active. MACD is showing selling pressure easing and a crossover forming. Key Levels: Entry Zone: $0.00001390-$0.00001410 Target 1: $0.00001450 Target 2: $0.00001540 Breakout Target: $0.00002209 Stop Loss: Below $0.00001280 A break above $0.00001450 would confirm further upside. Below $0.00001280 would weaken the structure and bring $0.00001178 into play. Record Open Interest Behind the Rally PEPE’s rally is backed by record Open Interest (OI) of $583 million. OI-weighted funding rate is at 0.0272%, showing strong longs. However, rising liquidations (peaked at $5 million) indicate short-term volatility risk if PEPE fails to clear immediate resistance. Will PEPE Hit $0.00002209? Structure is still bullish and Bitcoin is leading the crypto market so PEPE should continue to go up. Watch $0.00001450 as the breakout level, could retest $0.00001540 and then $0.00002209 if everything goes well.
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