Pepe Surges as Altseason Nears
Pepe (PEPE) has gained attention as altseason approaches. Recent DEX data shows a spike in buying activity from Smart DEX traders, marked by increased holdings in early November. This accumulation coincided with a 48% price surge over the past week, per CoinMarketCap.
📈 Breakout & Bullish Signals
PEPE/WETH price action has broken out of a downtrend, moving past a symmetrical triangle pattern. The anchored Volume Weighted Average Price (VWAP) breakout indicates a shift into bullish territory, suggesting sustained upward momentum. This breakout has boosted confidence, hinting at potential gains of 3 to 5 times the current price if the trend holds.
💸 Strong Buying Interest & VWAP Resistance
The recent breach of long-standing VWAP resistance shows strong buying interest. This may offer strategic buying opportunities on dips, signaling continued optimism among traders and investors.
📊 ‘In/Out of the Money’ Analysis
Currently, 77.87% of holders (97.48 million addresses) are ‘in the money,’ meaning they hold PEPE at a profit. Only 17.55% (21.98 million addresses) are ‘out of the money,’ indicating limited selling pressure. The high profitability among holders supports price stability and suggests continued bullish sentiment.
🚀 Bullish Outlook Ahead
With the majority of holders in profit and Smart DEX traders accumulating, PEPE could continue its upward trajectory, driven by strong market sentiment and renewed interest among informed traders.
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