Pepe (PEPE) climbed 10% as trading activity increased, with the token's Binance four-hour chart showing a recovery to $0.00000505 on October 29, 2026. Analyst Crypto Patel identified a multi-year trendline breakout, while Santiment Intelligence linked the advance to whale speculation and rising derivatives activity. The token now faces resistance between $0.00000510 and $0.00000520, where it previously stalled on October 22.

For meme-based tokens like PEPE, which trade primarily on community sentiment and speculative flows rather than protocol fundamentals, technical levels and on-chain signals tend to carry outsized weight in how traders frame the move.

Patel Maps Breakout Targets

Crypto Patel said PEPE broke above its weekly trendline and completed a higher-timeframe retest, outlining the setup in an X (Twitter) post. He identified an accumulation zone between $0.0000037 and $0.0000028 and listed potential targets at $0.00000720, $0.00001402, $0.00002677 and $0.00005900, with $0.00000223 marking invalidation.

Breakouts confirmed by a retest are among the patterns higher-timeframe traders watch for, since a successful retest is often read as a former resistance level turning into support, while an invalidation point defines where the setup is considered void.

Patel also cited an Arkham-linked wallet attribution report associating approximately $51.25 million in PEPE with Justin Sun. According to the analyst, further price gains would determine whether the breakout continues.

Holdings of that size draw attention in meme token markets, where a limited number of large wallets can account for a significant share of available liquidity.

Indicators Show Stronger Buying Momentum

On Binance, PEPE previously fell from approximately $0.00000450 in late September to $0.00000375 around October 8, as shown in a TradingView chart. The token then climbed above $0.00000420 around October 20 before retreating from $0.00000510 on October 22. It subsequently consolidated between $0.00000430 and $0.00000460 before rallying above $0.00000480 on October 28.

Trading volume reached 2.76 trillion PEPE during the latest advance. The Relative Strength Index stood at 66.79, above its moving average of 59.92, while the MACD line reached 0.00000016, above the signal line at 0.00000010, with a positive histogram of 0.00000006. Traders typically read an RSI holding above its moving average, alongside a positive MACD histogram, as a sign of strengthening buying pressure.

The RSI, however, is approaching the traditional overbought threshold of 70. Resistance remains between $0.00000510 and $0.00000520, with $0.00000540 as the next potential target. A rejection at that range could send PEPE toward $0.00000480, followed by support at $0.00000460.

Meme Tokens Post Mixed Weekly Performance

Santiment reported that MemeCore (M) gained 45% over seven days and 6% on the day. Over the same seven-day span, ENA and sENA fell 8%, RAIN dropped 26%, and RYO declined 36%.

The divergence points to a week in which meme token gains were concentrated in individual names rather than spread across the sector.

Santiment attributed PEPE's advance to whale speculation and increased derivatives activity, identifying $0.0000050 as the level the token needs to sustain in order to maintain its breakout momentum. How PEPE behaves around that level, and at the resistance band overhead, now serves as the reference point for assessing whether the breakout holds.