However, the question now dominating the Pepe Coin news cycle is whether this popular meme token can sustain its bullish momentum and retest its nearly $11 billion market cap peak—or if it’s on the verge of a significant correction.

Pepe Coin (PEPE) has shot up to nearly $11 billion market cap peak—but is it on the verge of a significant correction?

Pepe coin price began showing signs of exhaustion after reaching a short-term high near the 0.01526 mark. According to a technical analysis by @Ali_Charts, the token faced strong rejection near the 1.0 Fibonacci extension level of 0.01539, a common profit-taking zone in crypto markets.

The Pepe coin price chart also revealed sell signals emerging near the 0.618 and 1.0 Fibonacci zones—areas often associated with distribution after rapid price growth.

According to the analysis, several momentum indicators are flashing caution despite the positive PEPE news. The Relative Strength Index (RSI) touched overbought territory at 71.85 and has since started to retreat. A falling RSI, especially when paired with stable or rising prices, may indicate weakening bullish momentum.

Other technical signals echo a similar sentiment. The Bollinger Bands show price rejection from the upper band, suggesting a potential return to consolidation. Meanwhile, the Awesome Oscillator, though still in positive territory, has shown decreasing histogram bars, and the Cumulative Volume Delta (CVD) is currently negative, indicating more sell-side pressure than buy-side support.

According to crypto analyst Satori_BTC, the 0.00001250–0.00001300 support level is currently holding firm. The level has seen higher trading volume, suggesting that buyers are entering to prop it up.

If this is sustained, crypto Pepe Coin can very well bounce back and establish a near-term price of 0.00001700—a gain of about 30%.

On the negative side, a violation of the key level 0.00001245 would be out of place for the present bullish shape and could open the gates of a steeper decline. The subsequent main support level lies at 0.0001043.

According to the analysis, the PEPE price chart shows that the token has posted gains in 18 of the past 30 trading days, with daily price fluctuations exceeding 23%. These metrics, combined with a Fear & Greed Index reading of 70 (indicating “greed”), suggest that sentiment remains tilted toward the bullish side—at least for now.

As of mid-May, PEPE’s market cap stands at roughly $5.2 billion—still about 40–45% below its all-time high of $10.4 billion. While this leaves ample room for growth, it also reflects that a significant recovery is still required to revisit previous highs.

“Pepe has shown it can rally hard, but sustaining that kind of momentum requires more than just community hype,” said crypto analyst Jacob Crypto Bury. “If Bitcoin continues pushing toward the $110,000 range, meme tokens like PEPE coin could benefit as part of a broader altcoin rally.”

Pepe Coin (PEPE) was trading at around $0.0000125 at press time.

Unlike more utility-driven tokens, Pepe coin remains firmly rooted in its meme coin identity. There have been no major development updates or partnership announcements in recent months. Instead, the project continues to focus on community engagement through memes and occasional giveaways. While this strategy aligns with its branding, it may limit long-term investor confidence without broader ecosystem growth.

The coming days are critical for Pepe coin value. If current support zones hold and bullish sentiment in the broader crypto market continues, there’s a real chance PEPE could attempt to reclaim its previous highs. However, technical signals suggest that a near-term pullback remains likely unless bulls assert control quickly.

Overall, traders should be aware of overbought conditions and the absence of strong fundamentals. The battle between support at 0.00001250 and resistance near 0.00001500 could determine whether PEPE’s next move is a breakout or a breakdown.

News data source: kdj.com

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