PEPE, the well-known memecoin, might be bracing for a significant breakout as technical formations and rising investor participation intersect to point to the bullish momentum. Such an instance is with the crypto market analyst Steph is Crypto, who has foreseen a bullish breakout of the token, indicating a 5x increase according to the existing technical trends.
PEPE Technical Setup Suggests 5x Potential Move
On a recent chart post on social media, the analyst points out that PEPE/USDT has moved sideways in a bullish pennant flag since the middle of 2023, after a sharp rise. As per Steph, the cryptocurrency made a cycle low of $0.000005282 and has bounced back to challenge the upper resistance of the descending triangle formation across 2025.
PEPE Price Chart (Source: X Post)
The token is already floating around this important breakout area. In case of a confirmed breakout, Steph marks the 0.618 Fibonacci extension level at $0.000057067 as the main upside target. The further price levels are the 1.0 extension at $0.000248457 and the 1.382 level at $0.001081709, which are also noted as the possible longer-term targets.
PEPE On-Chain Trends Support Price Rebound
The data on funding rates also supports a bullish structure in the token, with recent signs of a shift in traders’ attitudes. As of June 13, 2025, the OI-weighted funding rate is +0.0039%, indicating that longs are dominating the picture and traders are willing to pay to take them.
PEPE OI-Weighted Funding Rate (Source: CoinGlass)
Such an optimistic funding environment usually indicates a bullish sentiment in the price trend and provides additional evidence for the breakout thesis. The funding rate has been largely positive since the end of April, when the price started to recover gradually along with growing open interest, which is a very positive indication of rising speculative demand.
The second graph draws a bigger picture of accumulation. The number of addresses with 0-1M PEPE grew by +7.59%, whereas the 1M-10M and 10M-100M cohorts rose by +3.00% and +1.03%, respectively.
PEPE Address by Holding (Source: IntoTheBlock)
Mid holders (100M-1B PEPE) increased by a steady +0.14%, and even bigger wallets containing 100B-1T PEPE were up by +4.03%. The 1T-10T PEPE cohort is up +6.12%, indicating that retail and institutional-sized buyers are stepping into positions.
The sole exception was a -16.67% decrease in addresses with 10T-100T PEPE, potentially representing profit-taking or strategic redistribution. Yet this migration has not dampened the overall accumulation trend, especially with increasing wallet counts in almost all other bands.
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