PEPE has recently captured significant attention in the cryptocurrency market after surging over 5.5% within a 24-hour period. This price rally has pushed PEPE onto CoinMarketCap’s trending list, signaling a growing interest from traders and investors alike. The price move was accompanied by a substantial 129% jump in 24-hour trading volume, indicating heightened market activity and participation. Such momentum often reflects increased retail interest, and PEPE appears to be benefiting from renewed enthusiasm as it tests key resistance levels.

On the technical front, PEPE’s current price stands around $0.00001001, following its breakthrough above a critical support level at $0.00000949. After crossing this important floor, the token has faced resistance at approximately $0.00001045. The price action around this resistance is crucial, as a successful close above this level could pave the way for a larger breakout. Market observers are closely watching this level, noting that rejection here has previously led to mild profit-taking, evidenced by the formation of short-term red candles. The Relative Strength Index (RSI) hovering near 55 suggests a neutral momentum at present — the market is neither overbought nor oversold, which leaves room for either consolidation or a further push upward.

Supporting the price surge are several key on-chain metrics that offer insights into the underlying market dynamics. One such indicator is the increase in daily active addresses, which has risen significantly according to Santiment’s data. This spike suggests fresh wallet participation and renewed interest from smaller retail investors entering the market. Such activity often serves as a bullish indicator, as it demonstrates that more participants are engaging with the token. Conversely, exchange outflows have dropped sharply, meaning fewer investors are moving PEPE into cold storage wallets. This trend points toward short-term holders potentially looking to capitalize on the price upswing rather than accumulate and hold long-term.

The behavior of larger investors or whales presents a mixed picture. While retail demand appears to be climbing, the supply held by whales has largely flattened. There is no clear sign of renewed accumulation from these major holders despite the recent price rally. For a sustained upward momentum and a convincing breakout, it will likely require increased whale activity alongside continued retail enthusiasm. Additionally, a reversal in exchange flow trends — with more tokens moving out of exchanges into private wallets — would strengthen the bullish case.

From a volatility perspective, Bollinger Bands have widened, signaling increased price fluctuations. This expansion in volatility often precedes significant price moves, either upward or downward, depending on market sentiment. In PEPE’s case, the momentum and volume surge suggest that the odds may be tilted in favor of a bullish breakout. If PEPE can maintain its position above the $0.00001045 resistance and build enough buying pressure, the next major price target to watch is around $0.00001296. Achieving a close near or above this level would confirm a short-term breakout and could trigger further buying interest.

On the downside, $0.00000949 remains a strong support level that traders will monitor closely. A dip below this price might result in a pullback, potentially testing lower supports. However, given the current market dynamics and the surge in trading volume, such a decline seems less likely unless broader market conditions turn negative.

Overall, PEPE’s recent price surge and accompanying volume increase have reignited optimism among its supporters. The combination of rising active addresses, decreased exchange outflows, and technical indicators all suggest a growing potential for further gains. That said, the behavior of whales and larger holders remains a critical factor to watch, as their moves often dictate the sustainability of price rallies in smaller tokens.

In conclusion, PEPE stands at an important juncture where it could either consolidate and stabilize or break out towards higher resistance levels. Traders and investors should keep a close eye on the $0.00001045 resistance, the RSI momentum, and on-chain metrics such as active addresses and exchange flows to gauge the next directional move. Should the breakout above $0.00001045 hold, a move toward $0.00001296 could be within reach, signaling a strong bullish phase for the token in the near term. However, prudent risk management remains essential given the volatility and mixed signals from large holders.

With the crypto market continually evolving, PEPE’s performance over the next few days will be key in determining whether this token can sustain its upward trajectory and attract more investors looking for promising gains.