Pepe [PEPE], the frog-themed and world’s third-largest memecoin, has finally turned positive following a breakout of bullish price action.
On the 26th of March, as the overall crypto market showed signs of recovery, PEPE recorded an impressive 11% gain.
PEPE price action and upcoming levels
This notable price surge, amid the ongoing market recovery, appears to follow the breakout of a crucial resistance level that PEPE has been facing from a descending trendline since early February 2025.
The earlier breakout, combined with the market recovery, seems to be driving PEPE’s price higher.
According to AMBCrypto’s technical analysis, PEPE remains bullish if it holds above the $0.0000080 level, with a strong possibility of soaring another 25% despite the recent price surge.
Meanwhile, PEPE’s RSI was at 59, signaling a strong bullish trend with more room for upside.
At press time, PEPE was trading near $0.0000087, having surged over 11% in the past 24 hours.
Despite the bullish outlook, the memecoin’s trading volume dropped by 10%, indicating lower participation from traders and investors compared to the previous day.
This upside momentum and bullish price action have begun attracting long-term holders, according to blockchain analytics firm Santiment.
Rising investors participation
Data revealed a notable increase in PEPE holders with balances between 100,000–1,000,000 and 1,000,000–10,000,000 tokens, indicating growing investor confidence and interest in the memecoin.
Bullish sentiment
Meanwhile, PEPE’s Social Dominance and Weighted Sentiment appeared to be improving, further supporting its bullish outlook.
Since the beginning of March 2025, the sentiment score has risen from -0.77 to +0.387, indicating growing optimism among traders and investors on social media, which seems to be driving the memecoin’s price higher.
Combining these on-chain metrics with technical analysis suggests that bulls are back in action, and PEPE could continue its rally in the coming days.
