Why is $PEPE Bullish?
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Pepe's price consolidated for 66 days between March 14 and May 19, accumulating orders. On May 20, the frog-themed meme coin broke out of the $0.0000058 to $0.0000108 range, initiating a 65% rally.
According to Santiment, the 24-hour active addresses, which are the wallets interacting with the Pepe blockchain, surged from 3,600 to 12,000 between May 21 and 22. This spike mirrors the increase in active addresses in mid-May, when PEPE rose by 36%. This metric indicates growing investor interest in Pepe at its current price levels.
Pepe is also benefiting from the $ETH ETF and the current FOMO (fear of missing out) in the market. The price could potentially reach $0.00002 soon and rise to $0.00005 over time. However, significant corrections are likely along the way.
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