As of May 20, 2025, the 4-hour chart of PEPE paired with Tether (PEPEUSDT) on Binance shows the formation of a bullish pennant pattern.
A bullish pennant is a continuation pattern that forms after a sharp upward movement, followed by a brief consolidation between converging trendlines. It usually signals the potential for another strong move upward if the breakout is confirmed.
Currently, PEPE trades at $0.00001296, just above the 50-period Exponential Moving Average (EMA), which stands at $0.00001289. If the breakout occurs above the upper red trendline of the pennant, the price could jump nearly 95% from the current level, targeting $0.00002540.
Meanwhile, the Relative Strength Index (RSI) reads 51.58, indicating neutral momentum. It sits above the 14-period average of 48.39, suggesting a possible shift toward bullish strength.
At the same time, the volume has contracted during the pennant formation. This behavior aligns with standard pattern characteristics and often precedes a breakout when volume returns.
Moreover, the earlier breakout in early May was followed by a similar consolidation phase. If the price surges again with rising volume and breaks the pennant resistance, the next leg up could follow quickly.
In summary, PEPE holds its ground above the EMA, builds a bullish pennant, and prepares for a potential breakout toward $0.00002540.
PEPE Whale Pulls $29.31M from Binance, Fueling Long-Term Hold Speculation
Meanwhile, a large PEPE holder has withdrawn another 420 billion PEPE tokens, worth $5.58 million, from Binance. This move brings the total amount withdrawn to 2.21 trillion PEPE, valued at $29.31 million, according to on-chain data from Nansen.
The whale moved funds to the address 0x6ea49ef3b235475297f36b007a43e1fee8a41fe0, which now shows multiple large transfers from different Binance wallets over the past two days. The latest withdrawal happened just two hours ago.
When whales move tokens off centralized exchanges likeBinance, it usually signals they do not plan to sell immediately. Instead, they often move tokens to cold wallets to hold for longer periods. Since these assets are no longer available for quick trading, this action can reduce selling pressure on the market.
At the same time, such large withdrawals suggest high confidence. Whales are often early movers before big price shifts, and their activity is closely watched by traders for potential market direction.
PEPE Funding Rates Remain Positive as Bulls Dominate Futures Market
Data from Coinglass shows that the open interest (OI)-weighted funding rate for PEPE has stayed consistently positive since early May 2025. This trend signals that traders continue to favor long positions, even as prices rise.
In this chart, the green bars represent positive funding rates—meaning long position holders are paying short sellers to keep their trades open. The yellow line tracks PEPE’s price. As the price increased in May, funding rates also stayed positive, confirming strong bullish sentiment across futures markets.
Even during brief pullbacks, the funding rate quickly rebounded above zero. This behavior suggests that the market is not driven by forced liquidations or short squeezes. Instead, traders appear to be actively accumulating, showing confidence in sustained upward momentum.
Meanwhile, the alignment of rising prices and consistently positive funding rates reflects strong demand. This combination often signals that bullish traders expect further gains and are willing to pay a premium to hold their positions.
