Is PEPE the Next 10x Meme Coin? Explosive 2-Week Rally Has Traders Watching Closely

PEPE has seen a surge in trader activity over the past two weeks, with record participation levels suggesting it’s becoming the go-to meme coin for speculative momentum plays.

Despite being 14% below its $0.0000154 high just a week ago, it still boasts a 67% gain over the past two weeks, positioning it as one of the best cryptos to buy over the period.

While US inflation data printed better than expected in April, Fed Chair Jerome Powell’s hesitance towards rate cuts has left the market in a state of cautious optimism.

Open Interest Hits Record High: Is This the Meme Coin Play?

According to Coinglass data, open interest in PEPE has surged to record highs over the past two weeks, exceeding post-inauguration rally levels at $583 million.

Speculative traders are actively engaging in Pepe price moves again. With recent FUD easing, the door has opened to bullishness, attracting fresh retail liquidity.

However, after last week’s mass liquidations, traders seem more cautious about near-term gains.

The 24-hour long/short ratio has now fallen below 1 at 0.9516 alongside the $85 million in open interest added during Monday trading—more traders are shorting the Pepe Price.

PEPE Price Analysis: Is a 10x Realistic?

The PEPE price appears to be amid a correction, retracing alongside the RSI after a stint along the oversold threshold at 70, an indication of exhausted buying pressure.

More critically, the MACD line is on the verge of a death cross, preparing to fall below the signal line. On the daily time frame, this setup often signals short-term declines.

A retest of the $1 resistance zone as support could mark the correction’s bottom. This aligns with the 0.5 Fib retracement level, which often marks correction bottoms—a potential 19% decline from current levels.

Looking further, PEPE appears to be echoing the descending channel breakout pattern that led to its 265% surge to a new all-time high.

While a 10x may not be realistic this year, PEPE could aim for a 230% surge to $0.00042 if history repeats. This top aligns with the long-term resistance zone that has capped highs since mid-2024.

Traders Have Less than 2 Weeks to Catch This Early Opportunity

The altcoin market is pumping right now, and those who back the wrong horse are missing out on substantial gains as most coins loom far below their highs just four months ago.

That’s where MIND of Pepe ($MIND) steps in, giving traders a chance to get in early and stay ahead of high-gaining opportunities.

The MIND of Pepe AI actively engages with the crypto community through X—driving conversations, uncovering alpha opportunities, and delivering exclusive, token-gated insights.

Inside its Telegram community, holders get early access to high-potential tokens before they hit the market, keeping them ahead of the curve.

The $9.5 million raised in its ongoing presale could stand as a prospective discount, capitalizing on the Pepe brand and one of this cycle’s strongest meme coin narratives: AI agents.

There are just 11 days before this phase ends, unlocking the increased demand of exchanges.

You can keep up with MIND of Pepe on the mentioned socials, or join the presale on the MIND of Pepe website.

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