Pepe (CRYPTO: PEPE) has jumped over 40% in the last week, but traders are split on whether this rally has more room to run or if a correction is imminent.
Trader Notes: In a X post on May 14, MaxBecauseBTC pointed out that short-term PEPE holders, wallets that bought within the last 30 days, are beginning to climb again after four months of decline.
Historically, this kind of growth has preceded strong price moves, signaling that speculative interest is back and potentially fueling the current rally.
Despite this, Ali Martinez flagged a cautionary signal. The TD Sequential indicator on PEPE's daily chart is now flashing a sell signal, suggesting a potential near-term pullback.
Meanwhile, trader Koala remains bullish. He believes the strategy for PEPE is similar to other altcoins—buy on structural breakouts and target previous highs.
According to him, the coin has formed solid support and could soon push toward recent resistance levels.
Statistics: According to Onchain Lens, a whale withdrew 581.1 billion PEPE (~$7.94 million) from Binance, often a signal of long-term positioning.
Coinglss data shows shows PEPE's open interest hit an all-time high of $582 million on May 11, signaling intense market participation. It currently remains elevated at $571 million.
IntoTheBlock data shows Pepe's large transaction volume and daily active addresses down by 25.8% and 16%, respectively.
Transactions greater than $100,000 are down from 533 to 417.
67% of PEPE holders are in profit, while 7% are at breakeven, indicating substantial gains across the board.
Read Next:
Image: Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
