PEPE surges past 463K holders: Is a rally underway?

Key Points

1. PEPE's price is trading at $0.00001252, with a 1.68% gain in the last 24 hours, and has exceeded 463,000 holders.

2. A bullish cup-and-handle formation on PEPE’s daily chart indicates potential for a rally toward $0.000030 if the $0.00001580 resistance is broken.

3. The Directional Movement Index (DMI) shows strong buyer dominance with +DI at 35.3, well above -DI at 12.7, and an ADX of 23.0 signaling a developing trend.

4. Derivatives market activity shows a 60% surge in volume to $3.67B and an 8.20% increase in Open Interest to $705.27M, with a positive OI-Weighted Funding Rate of 0.0107% indicating bullish sentiment.

5. On-chain metrics reveal a 39.01% increase in new addresses and a 38.43% rise in active addresses over the past week, alongside a 42.41% surge in zero-balance wallets, reflecting growing token utility.