Pepe price is on the verge of a strong bullish breakout as whale accumulation continues and a rare golden cross pattern nears.
Pepe Coin (PEPE) jumped to a high of $0.00001450, up 175% from its lowest point in April this year. This rebound has coincided with the ongoing crypto bull run, which has pushed the total market capitalization of all cryptocurrencies to nearly $3.5 trillion.
Pepe surged as on-chain metrics pointed to increased accumulation by whales. Data shows that holders with between 10 million and 100 million coins now hold over 4.02 trillion PEPE, up from 3.9 trillion in February.
A similar trend has been observed among whales holding between 1 million and 10 million coins, whose collective holdings have risen to a record high of 517 billion coins. Whale accumulation is typically a signal of investor confidence and optimism that the token has more upside potential.
Additional data shows that the number of Pepe holders has continued to rise over the past few months. The total number of addresses now stands at 437,000, up from 370,000 on January 1. This growth occurred even as the coin entered a bear phase in the first quarter.
Another key metric, the Mean Dollar Invested Age, has also climbed significantly. The 365-day MDIA has surged to 143, up from 57 in January. This metric measures the average age of dollars invested in a cryptocurrency, weighted by the average purchase price. A rising MDIA typically indicates that long-term holders are not selling—another bullish signal.
Pepe Coin is also benefiting from a trend toward self-custody. Exchange netflow, the difference between token inflows and outflows, has remained negative in recent weeks. This suggests that more investors are moving their tokens off exchanges rather than preparing to sell.
Pepe price is about to form a golden cross
The daily chart shows that Pepe Coin bottomed at $0.0000052 in March and then surged to $0.00001455. The token is now hovering around the 50% Fibonacci retracement level, which it needs to break above to confirm further upside.
Pepe is also nearing the formation of a golden cross, a bullish technical pattern that occurs when the 50-day and 200-day weighted moving averages cross. The spread between the two moving averages has narrowed considerably, increasing the probability that the crossover will occur soon.
If the golden cross completes and the price breaks above the key resistance at $0.00001535, it would confirm a bullish breakout. In that scenario, PEPE could rally toward a new all-time high of $0.00002835, approximately 94% above the current price.
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