- PEPE faces near-term resistance at $0.00002500, limiting upside despite strong trading volume.
- MACD and RSI show weakening bearish signals, hinting at possible stabilization this month.
- Analysts expect PEPE to average $0.00001727 in May, with potential highs near $0.00002900.
Pepe (PEPE) has remained one of the most watched meme-based cryptocurrencies in recent months. Despite recent price dips, investors are eyeing signs of potential recovery. The coin’s performance in early 2025 has been mixed.
Following a strong surge through mid-to-late 2024, PEPE hit resistance and entered a prolonged correction. As of press time, the token is trading at $0.000058486, reflecting a weekly drop of nearly 10%. Yet, analysts believe May could offer a window for renewed gains.
Current Market Outlook
PEPE’s current market cap stands at over $3.5 billion, with a circulating supply of 420 trillion tokens. The daily trading volume exceeds $500 million, indicating active investor participation. However, the recent negative price action has raised concerns. Over the past week, PEPE has fallen by close to 10%, suggesting sellers are in control for now.
Despite the downward pressure, the broader sentiment remains cautiously optimistic. The current trading pattern indicates that PEPE might be in a consolidation phase, potentially setting the stage for a breakout.
Technical Indicators Suggest Mixed Signals
From a technical standpoint, the trend has shifted from bullish to corrective since late 2024. The daily chart shows a declining pattern following November’s peak. In the past few weeks, price movements suggest the coin is struggling to gain sustained upward traction.
PEPE/USD daily price chart, Source: TradingView
The Moving Average Convergence Divergence (MACD) indicator shows the MACD line falling just below the signal line. This confirms the current bearish momentum. However, the histogram is printing small red bars, which may suggest a weakening downtrend.
Meanwhile, the Relative Strength Index (RSI) has slipped to 54.35. It has declined from the overbought zone above 60, indicating reduced buying pressure. Still, the RSI remains in a neutral range and hasn’t signaled oversold conditions yet.
Key Price Levels to Watch
Strong resistance lies near $0.00002500, which marked the peak in November. Other notable resistance levels are at $0.00001500 and $0.00001000. These areas could limit upward movement in the short term.
On the downside, firm support sits around $0.000005000, a level that has held during multiple corrections. A minor support also formed at $0.000007500 in April, which could cushion further dips.
May 2025 Price Expectations
Coincodex analysts project PEPE to average around $0.00001727 this May, assuming market conditions improve. The expected range lies between $0.000008555 and $0.00002900. If bullish momentum resumes, the coin may push toward the upper end of this range.
