Pepe Price Prediction: "God Candle" Rises 45% Daily, But Is It Too Late to Buy?

Pepe has become the meme coin of choice for traders, leading the 24-hour increase in the top 100 with a 45% rise dubbed the "god candle" - further reinforcing the bullish prediction for Pepe. This move marks the peak of a month-long consolidation phase, ranging from $1 to $0.50. Surpassing this barrier, PEPE has a new position in the conversation about "the best cryptocurrencies to buy". After the FOMC meeting with a hawkish yet uncertain stance and the US-UK trade agreement, the market hurdles that have kept most currencies stagnant are beginning to dissipate. Have Traders Missed Their Opportunity? The derivatives market is becoming attractive as the open interest for PEPE skyrockets to $531 million - the highest level since the bullish surge after the inauguration in January, according to data from CoinGlass.

This surge indicates the return of retail liquidity, with traders actively participating in the price movements of Pepe. With the recent easing of FUD, the door has opened for a bullish trend. That said, traders seem to be repositioning for a downward move. The long/short ratio has now dropped below 1 at 0.9992—more traders are shorting than betting on the next bullish move. This price decline aligns with technical signals. The daily RSI has entered the overbought zone, surpassing the 70 threshold at 82, indicating buyer exhaustion. What has increased must also decrease—PEPE may need to adjust, a natural next step to rebalance the scales in the context of rising speculative interest. PEPE Price Analysis: What Will Happen Next? Holy candles may just be a release allowing for a longer bullish trend, when considering historical patterns. The breakout from the descending channel that propelled PEPE's 265% increase to a new all-time high by the end of 2024 seems to be repeating, setting the stage for another bullish surge. Two separate peaks and troughs have formed a reverse structure, consistent with the long-term support area that has directed the bottom level since mid-2024. Momentum indicators support this case. The daily RSI is in overbought territory, but the weekly RSI has risen above the neutral level of 50, reaching 52—the highest level since January. More importantly, the MACD has formed a golden cross, crossing above the signal line for the first time since January. In such a high time frame, this move often signals a change in long-term trend. If history repeats itself, PEPE could aim for a bullish increase of 220% to $0.00042 by the end of this year, testing the long-term resistance area that has reached its highest level since mid-2024. However, in the short term, a correction could cause PEPE to test the upper threshold of the consolidation process at $1 before trying again at the resistance level of $1.40 that has limited today's bullish momentum.