Pepe Coin price retreated this week, moving from the weekend high of $0.000005030 to the current $0.000004325.

The Pepe (PEPE) token remains well above its year-to-date low of $0.0000031, giving it a market capitalization of over $1.78 billion.

The ongoing consolidation is due to the crypto market’s price action, with Bitcoin and most altcoins remaining in a tight range.

However, on the positive side, there are signs that Pepe may be on the cusp of a strong bullish breakout, potentially to the year-to-date high of $0.000072.

Data compiled by CoinGlass show that futures open interest has continued to rise over the past few days, a sign of increased demand among traders betting on a potential rebound.

The futures open interest rose to $262 million, well above the year-to-date low of $200 million. Similarly, Pepe’s daily volume has bounced back from its lowest level this month. It stood at $435 million on Wednesday, much higher than the year-to-date low of $436 million.

Pepe’s volume was much higher than that of other top meme coins. For example, Shiba Inu had a daily volume of $114 million, while Official Trump had $152 million. The elevated volume is also a sign of demand among whale investors.

Pepe Coin price has formed a double-bottom pattern 

The daily chart shows that Pepe has been in a strong downward trend since 2025 as demand for meme coins waned and most altcoins tumbled.

On the positive side, it has formed a large double-bottom pattern at $0.0000036, its lowest level in December last year and this month.

A double-bottom pattern consists of two low swings and a neckline, which in this case is at $0.0000072. The profit target is determined by first measuring the distance between the neckline and the lower side. 

After that, one measures the same distance from the neckline. In this case, Pepe will likely rally to $0.000p1082, up 150% from the current level.

The bullish Pepe Coin price forecast will become invalid if it drops below the double-bottom level at $0.0000036.