PEPE Enjoyed Bull Run: Can It Make New ATH? Here’s an Outlook

1. PEPE's price has witnessed significant buying momentum and is expected to continue its outperformance.
2. The memecoin has gained traction and has relatively outperformed in the crypto market.

The popular memecoin Pepe (PEPE) has been in the spotlight in the crypto market, significantly outperforming amidst the ups and downs in recent weeks.
The Pepe token (PEPE) has been in a strong upward momentum and is eyeing the All-Time-High (ATH) mark to recapture soon.
The Pepe token has traded in a bullish bias, sustaining gains above the key moving averages. A rounding bottom formation has also been observed, indicating a breakout is on the verge, which might trigger soon.
At press time, the Pepe token (PEPE) price traded at $0.00000873 with an intraday gain of 3.10%, reflecting bullishness on the charts. It has a monthly return ratio of 22.30% and 522.38% yearly, implying a long-term bullish outlook.
The pair of PEPE/BTC is at 0.000008489 BTC, and the market cap is $3.67 Billion. Analysts are bullish and suggest that the PEPE price may break its high mark and reach new heights soon.
Price Action Signifies Outperformance: What's Next for PEPE?
The PEPE token sails in a bullish trend and is delivering higher high and higher low sequences, providing evidence of an uptrend. With the bullish trend, buyers have enjoyed rallying the token price and are eyeing reaching its ATH.

Source: TradingView
Amidst the relative underperformance of most altcoins, the PEPE token has witnessed consistent bullish momentum and rallied over 80% last month. The intraday trading volume surged over 12.90% to $1.12 Billion.
The MVRV Ratio (Market Value To Realised Value) of the PEPE token remains in the midst, indicating that the token has not made a top and has much more room to grow.
The Momentum Indicator (Relative Strength Index) RSI curve stayed in the overbought zone and formed a positive divergence on the charts. Furthermore, the MACD indicator showed a bullish crossover and displayed green bars on the histogram.
Per the GIOM indicator, more than 82% of in-the-money holders are in profit, and only around 18% are looking to secure gains, signifying a bullish trend.

Source: IntoTheBlock
Following the price surge, buyers have persisted in adding fresh long positions and looked confident in stretching the rally. Conversely, sellers have stayed on the backfoot and looked trapped.
Futures Data Shows Long Buildup Activity

Source: coinglass
The immediate support levels for the Pepe token (PEPE) are $0.000008300 and $0.000008200, whereas the key upside hurdle is around $0.000008600, followed by $0.000008800
Conclusion
The Pepe token (PEPE) price has persisted in exploding gains and trades on a bullish trajectory. Additionally, the token is expected to register a breakout soon and might breach its ATH mark ahead.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.