The post PEPE jumps 17% as Bitcoin rally, Technical breakout and Whale Buying Align appeared on BitcoinEthereumNews.com.

Altcoins PEPE surged 17% over the past 24 hours, outperforming most altcoins as bullish momentum from Bitcoin’s all-time high, a key technical breakout, and aggressive whale accumulation drove a wave of memecoin speculation. Bitcoin’s rise to $116,000 on July 10—its highest level since mid-May—sparked renewed interest in high-beta assets. As traders rotated capital into memecoins, PEPE and Dogecoin led gains, rising 17% and 6.7% respectively. The broader crypto market added 6.23% in capitalization, while derivatives volume surged 87%, according to CoinMarketCap. Historically, memecoins have shown strong correlation with Bitcoin-led rallies, and PEPE’s latest move reinforces that dynamic. The surge reflects heightened risk appetite and speculative inflows chasing momentum. Falling wedge breakout confirms bullish reversal PEPE’s technical structure turned decisively bullish on July 10, when price broke out of a falling wedge pattern after weeks of sideways consolidation. Indicators support the breakout: RSI (14) at 65.13 shows room for continued upside MACD flashed a bullish crossover with rising histogram bars Price cleared the 23.6% Fibonacci retracement ($0.0000122), with the next key level at $0.00001479 (127.2% extension) Trading volume jumped 123% to $1.34 billion, validating the move with strong market participation. Whale accumulation creates supply pressure On-chain data from Santiment shows whales accumulated over 9 trillion PEPE—worth more than $90 million—between June 29 and July 9. This reduced the token’s exchange supply by 2.9%, tightening available float. Currently, the top 10 PEPE holders control 37.5% of total supply, a concentration that creates significant buy-side pressure. Meanwhile, open interest in PEPE futures climbed 24.9% in 24 hours, pointing to a sharp rise in leveraged bullish positioning. Outlook: Can PEPE extend its rally? Despite RSI (7) hitting 79.79, suggesting short-term overbought conditions, the combination of technical breakout, whale accumulation, and Bitcoin-led momentum gives PEPE a strong near-term setup. Traders now eye $0.000014 as the…

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Filed under: News - @ July 11, 2025 6:26 am