On April 9, 2025, after the US market’s opening bell, the cryptocurrency market as a whole saw a 1.90% increase, signaling a possible upward trend. Amongst this, Pepe (PEPE), a well-known meme coin, has shown bullish price action and is set for a significant upward movement.
Pepe (PEPE) Technical Analysis and Upcoming Levels
Expert technical analysis indicates that PEPE is forming a bullish double-bottom pattern on the daily timeframe. Additionally, the meme coin has broken out of a descending trendline that had been in place since March 26, 2025.
Based on recent momentum and historical trends, if PEPE maintains above $0.00000678, it could potentially rise by 30% to reach $0.0000090 in the future.
Despite the bullish movement, PEPE is currently trading below the 200-day Exponential Moving Average (EMA) on the daily chart, indicating strong bearish sentiment.
Current Price Momentum
At present, PEPE is priced around $0.00000698, showing a 15% increase in the last 24 hours. During the same period, trading volume rose by 75%, suggesting increased activity from traders and investors.
Reasons for PEPE’s Price Surge
The sudden price surge could be attributed to a recent post by President Donald Trump on X (formerly Twitter). In the post, Trump mentioned authorizing a 90-day pause and lowering reciprocal tariffs by 10%, effective immediately.
$5.76 Million Bullish Bet
Following this announcement, the market, including PEPE, turned bullish. Intraday traders also shifted towards bullish positions, as reported by on-chain analytics firm Coinglass.
Data shows that traders are currently over-leveraged at support levels of $0.00000618 and resistance levels of $0.00000714, with $5.76 million and $305.60k worth of long and short positions built over the past 24 hours.
This data suggests bullish dominance, potentially fueling the meme coin’s upward momentum.
