PEPE breakout appears imminent

The accumulation/distribution (A/D) indicator, which tracks whether traders are buying or selling, shows that PEPE is in a buying phase.

This is confirmed by the upward movement of the A/D line, indicating accumulation and bullish sentiment in the market. Such activity could drive the price towards the next target.

This trend is further supported by the relative strength index (RSI), which has begun to rise, indicating strong buyer strength. The RSI currently reads 59.41, indicating that buyers are gaining control, pushing PEPE into bullish territory.

A sharp drop in active addresses could hinder PEPE's breakout

According to data from IntoTheBlock, the number of active addresses (AA) interacting with the memecoin has dropped by 7.89% over the past week.

Realistic or not, here is the market cap of PEPE in terms of BTC

The AA indicator measures the involvement of traders in an asset, and despite the bullish trend, such a drop indicates a reduction in buying activity.