Driven by the current strong momentum, one can't help but wonder: Can Pepe maintain its upward trend and ignite a strong bull market in the days to come?

PEPE: A bullish 'Cup and Handle' pattern

From the chart, Pepe has formed a classic 'Cup and Handle' pattern, which typically indicates a potential bullish breakout.

Furthermore, Pepe's strong retest in the key demand zone further consolidates the buyers' advantage, indicating that this level provides strong support for the price.

Currently, Pepe's price is consolidating below the target level ($0.00003), showing strong breakout potential. If it successfully breaks through this level, it could not only trigger a sustained rebound but also attract the attention of short-term investors and long-term holders.

Of course, if momentum weakens in the short term, the price may enter a phase of consolidation.

On-chain data shows sustained market interest

On-chain data indicates that market participation in Pepe has significantly increased, especially in terms of address activity. In the past week, new addresses grew by 1.06%, active addresses increased by 1.73%, and zero-balance addresses surged by 19.91%.

Trading behavior highlights changes in investor structure

Trading data shows a clear rise in the activity of retail investors on the network. Small transactions valued at under $1 increased by 5.38%, showing that retail users' interest is gradually warming up.

Meanwhile, large transactions (over $10,000) have decreased, which may reflect some institutional investors adopting a more cautious strategy.

Despite this, the growth in retail trading indicates that network activity is rising, and this trend is often a precursor to price volatility.

Growth in open interest reinforces bullish expectations

Open Interest increased by 18.83%, totaling $156.56 million. This growth indicates an influx of funds into the derivatives market and reflects traders' optimistic outlook for the future.

Combining Pepe's technical pattern and trading data, this indicator provides strong support for its bullish trend.

Summary

Whether through technical patterns, on-chain data, trading behavior, or performance in the derivatives market, all indicate that Pepe is building momentum, preparing for a potential significant breakout. With the current market sentiment, Pepe is expected to show greater upward potential in the short term.