Why $PEPE is bullish?
Pepe price consolidated for 66 days between March 14 and May 19, building up orders. On May 20, the frog-themed meme coin breached the $0.0000058 to $0.0000108 range to the upside and kicked-started its 65% rally.
According to Santiment, the 24-hour Active Addresses, the wallets interacting with the Pepe blockchain, have spiked from 3,600 to 12,000 between May 21 and 22. This sudden uptick is similar to the spike in active addresses in mid-May, when PEPE shot up 36%.
This metric shows that the investors are interested in Pepe at the current price levels.
Pepe is benefiting from the $ETH #ETF and the #FOMO that currently exists. The price could reach the $0.00002 level soon and rise to $0.00005 within some time.
However, it is possible that along the way, several substantial corrections will occur.
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