Both the short-term and mid-term trends have flipped bullish with a double golden cross on the daily timeframe, suggesting a recent triangle breakout could send the Pepe price outlook much further.
The meme coin has seen a 42% increase over the past two weeks, adding another 5% today as capital rotates deeper into altcoins.
Geopolitical and macroeconomic FUD has largely cleared, replaced by a wave of pro-crypto regulatory momentum that continues to unlock sidelined capital for risk-on assets.
With the GENIUS Act now signed into law and the CLARITY Act expected to follow in October, bullish catalysts now extend well beyond “Crypto Week,” setting a stage for continued upside.
This rotation of capital is supported by a rapid rise in the altcoin season index, increasing from 20 to 53 since the month began — though still far from the 75 considered a full altseason.
Retail investors are re-entering the market with renewed appetite for alternatives to Bitcoin, and Pepe is drawing significant attention.
According to Coinglass data, Pepe open interest has broken above $1 billion for the first time ever, far surpassing the peaks of both the post-US election and post-inauguration rallies.
Derivatives traders are actively participating in Pepe price moves, but with a long/short ratio of 0.9646 suggesting an edge for shorters, it appears speculators are pricing in a correction.
This double golden cross, as both the 20EMA and the 50EMA surpass the 200EMA, coincides with the breakout of a symmetrical triangle forming since the mid-April market bottom.
The pattern projects a breakout top 70% higher at $0.00002425, in line with the November US-election rally peak, though momentum has stalled at the $0.00001460 resistance.
The RSI sits high at 72, teetering above the overbought threshold — an area that often precedes short-term corrections as buyer demand begins to exhaust.
More so, the signal line is closing back in on the MACD line, suggesting weakening bullish momentum and setting the stage for a pullback.
A near-term correction now looks like the healthier path to reset volatility.
Immediate support at $0.00001325 could serve as the first rebound zone, but profit taking could open up a lower floor around $0.0000123 to retest the pattern’s upper boundary as support.
While a $1 PEPE price remains largely speculative without a technical basis, a potential full-blown altseason driven by regulatory clarity adds weight to the figure as a long-term target.
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