Pepe Meme Coin Price Prediction: PEPE Eyes $0.000018 As Bullish Momentum Builds Amid Derivatives Play

Key Insights

• PEPE meme coin liquidated over $8M in shorts on May 9, triggering a sharp price spike.
• PEPE trades above key support at $0.00001065, with resistance at $0.00001500 in focus.
• Over 435,000 holders now own PEPE, showing steady growth in community participation.

The recent Pepe coin price action has gained attention as traders push the token toward the $0.000018 mark. After weeks of steady gains and liquidations in the derivatives market, the meme coin shows renewed strength. The market is preparing for a potential breakout with volume rising and bulls testing resistance levels.

PEPE Meme Coin Price Holds Above Support as Traders Watch Key Resistance

PEPE/USDT has seen a sharp rise since bottoming out in April. After forming a base, the price broke upward, climbing above short-term moving averages. It recently faced rejection at nearly $0.00001500 but remains above the key support at $0.00001065.

At the time of writing, PEPE trades around $0.00001406. The daily chart shows a short-term ascending trendline, which suggests bullish momentum is intact. If the price holds this trend, traders may attempt another test of the resistance zone near $0.00001500.

Volume remains an essential signal for short-term traders. A decisive breakout above $0.00001500 with increased volume could open a path to the next resistance near $0.00001800.

Until then, bulls must hold above the trendline to maintain momentum. A break below could shift the focus back to lower support zones.

Derivatives Data Reflects Heavy Trading Activity

Coinglass’s data shows a high activity level in the PEPE futures market. On May 9, over $8 million in short positions were liquidated during a sharp upward move. This event triggered a short squeeze, which pushed the price higher in a short period.

The liquidation surge continued, with long traders also affected in the following days. As the price corrected slightly, many long positions were liquidated, adding volatility.

The back-and-forth between long and short liquidations reflects a strong contest between bulls and bears.

Open interest in PEPE derivatives remains elevated, suggesting that many traders are positioning for the next big move. However, this also increases the risk of sharp corrections. Leverage remains high in the market, which may lead to sudden liquidations if the price swings quickly.

Technical Indicators Show Bullish Setup with Caution on the PEPE Meme Coin Price

Technical indicators suggest that PEPE is in a bullish structure. The daily chart shows the price trading above the 20-day, 50-day, and 100-day moving averages. These levels now act as dynamic support zones, which could prevent deeper pullbacks.

The RSI (Relative Strength Index) is near neutral, suggesting that PEPE is not overbought. This leaves room for further upward movement if buyers step in. However, a clear breakout above $0.00001500 is needed to confirm the next trend.

The Bollinger Bands are slightly widening, indicating rising volatility. If the upper band expands further, it may support a breakout move. However, consolidation within the current range is likely if volume stays low. Traders will need to watch daily closes closely.

Market Sentiment Remains Mixed Despite Recovery

There is still much uncertainty about market sentiment on PEPE. More than 435,000 people now hold LP tokens, showing continuous growth. This indicates that a strong interest in retail is continuing. There is increased discussion about the token on social media platforms.

The number of trades has decreased slightly lately, though overall liquidity remains the same. The 24-hour trading volume, as shown on CoinMarketCap, stands at $1.13 billion. As a result, most investors are making investments, but a few are holding back for more obvious signs.

PEPE meme coin is now worth about $5.46 billion and is one of the top 30 cryptocurrencies in the market. The total number of circulating and total tokens is 420.68 trillion, so the current supply cannot increase further. Some traders appreciate that the token’s structure is fixed.

The latest surge in PEPE is mainly due to momentum and speculation. While memes have made Dogecoin famous, traders focus more on technical indicators. Above $0.00001800, the next big possible target on the charts is $0.00002100.