PEPE is back in motion. After dipping midweek, the memecoin has found its footing just above the $5.4 billion market cap zone. Price action is still tight, but there’s fresh buying interest showing up on the chart. As the dust settles from the recent pullback, traders are once again watching for signs of a breakout.
The recovery isn’t massive yet, but the structure is improving, and if market conditions hold steady, PEPE could be setting up for a run into early June.
Large Wallets Are Stirring Again
Over the past two days, several large PEPE transactions have popped up across whale-watching dashboards. These aren’t tiny scalps. We’re talking about high-value token movements shifting out of exchanges and into cold wallets, a move that often signals accumulation rather than panic.
Some traders see this as a quiet vote of confidence. Whenever whales start building positions during a sideways stretch, it tends to suggest they’re preparing for an upside move. It’s early, but the signs are starting to line up.
Meanwhile, PEPE’s name is circulating again in trader circles. It’s drawing attention not just because of price, but because of how quickly it tends to move once momentum kicks in.
PEPE Chart Breakdown: Rebound Gaining Ground
- Market cap has reclaimed $5.49 billion after bottoming near $5.24 billion
- RSI is rising, currently sitting at 59.37 with room to climb
- MACD flipped positive, showing a shift in trend bias
- Resistance now sits at $5.61 billion – a breakout there could open the way to $5.89 billion and $6.1 billion
- On the downside, support is holding at $5.24 billion with a softer floor near $5.12 billion
The recent bounce shows higher lows building up. If buying pressure increases over the weekend, especially on strong volume, traders may look to front-run the next move higher.
Why Traders Are Rotating Into PEPE
While bigger names like Dogecoin and Shiba Inu are stuck in sideways zones, PEPE has started moving again. That’s part of what’s pulling short-term traders back in. It reacts quickly, carries strong liquidity during rallies, and doesn’t need a major catalyst to ignite a breakout.
The price isn’t the only thing rising. Social chatter has picked up, and engagement around the coin’s charts and setups is starting to resurface on crypto forums and trading groups. For now, this is still a memecoin, but the technical and social positioning looks like it could spark another push.