PEPE’s 24% Surge – Will the Memecoin Crack $0.000010 Before May Ends?

PEPE defies gravity with a 24% rally—fueled by meme magic or just another speculative bubble? Traders are betting big as the frog-themed token eyes the psychological $0.000010 barrier.

Market sentiment flips bullish: Whale accumulation and spot market demand suggest this isn’t just retail FOMO. But let’s be real—since when did fundamentals ever matter in memecoin land?

Key resistance levels loom: A clean break above $0.000008 could trigger a liquidity hunt toward six zeros. Technicals scream overbought, but since when has that stopped a degenerate crypto pump?

The cynical take: Another ‘number go up’ story while TradFi analysts weep into their Excel sheets. Wouldn’t be the first time a cartoon amphibian outran the S&P 500.

A quick pit stop as investors shift gears

Normally, when a major resistance shows up, investors scramble to reshuffle their portfolios.

The fear of a pullback hangs heavy, pushing many to cash out before things get ugly. But PEPE’s Realized Profit metric is telling a different story.

Unlike past corrections – where realized profits spiked and prices quickly tanked – this time, even with elevated profit-taking, price action has stayed resilient.

Source: Glassnode

The big takeaway? FOMO on future gains is keeping investors glued to their positions, with fresh buyers soaking up the selling pressure.

The PEPE supply held by the top 1% addresses has soared to a yearly high of 85.162%, while the number of new addresses at $0.00000884 jumped to a monthly high of 1,387.

All these data points are stacking up, reinforcing AMBCrypto’s theory.

May could see PEPE break overhead supply zones

Adding to the list of positive catalysts, PEPE’s 24% weekly rally has outshone Dogecoin [DOGE] and Shiba Inu [SHIB]. Both have hit a wall at key resistance zones where supply is firmly in control.

Meanwhile, PEPE has smashed through the $0.0000090 mark in under two weeks – something it’s tried (and failed) to do four times since mid-February.

Looks like the frogs are finally leaping over that barrier.

Source: TradingView (PEPE/USDT)

Of course, the RSI is heating up, and some savvy investors might be looking to cash in on PEPE’s monster 60% rebound from the $0.0000060 dip just fourteen days ago.

But here’s the kicker: the recent dip looks like nothing more than a short-term shakeout, with weak hands getting flushed out. 

This gives the bulls a golden opportunity to grab the supply, especially since PEPE’s showing some serious underlying resilience.

So, don’t be shocked if PEPE punches through the $0.000010 resistance soon. If this momentum keeps up, PEPE could be primed to reclaim key overhead supply zones this May.