The token reached a new all-time high of $0.000027 on Monday. Pepe, which has increased by approximately 2000% since the beginning of the year, reached a market value of over 11.37 billion dollars. With its recent rally, the token’s monthly gain has increased to 157%, making it one of the best-performing crypto assets.

According to IntoTheBlock data, Pepe’s large-scale investor net flow turned from a net inflow of 1.03 billion PEPE worth $22.66 million on December 6 to a net outflow of 1.96 trillion PEPE worth $50.9 million as of December 8.

This usually means selling pressure or take profit signals and often leads to price declines. However, despite these sales, Pepe gained 27.3% in value in the last week.

One of the most important reasons for this rise was that Pepe was shown as a good investment option along with Bitcoin on the American news channel Fox News. This surprise launch increased interest in the token and increased its price.

In addition, its listing on major exchanges such as Coinbase and Robinhood last month allowed retail investors to purchase PEPE heavily.

IntoTheBlock data showed that short-term PEPE holders increased by 263% to 80,450 unique addresses in the last 30 days. This was another factor that contributed to the rise in prices.

According to Coinglass data, PEPE’s open interest volume increased by 9% in the last 24 hours, reaching $370.8 million and recording a new peak. It was also noteworthy that searches for “PEPE” were trending on Google.

Analysts predict that the price may rise further following positive technical patterns emerging on PEPE’s daily chart. Anonymous analyst Captain Faibik predicts that PEPE could break a multi-month symmetrical triangle pattern, pushing its price to $0.000031 in the short term. This represents an increase of approximately 19% from the current price level.

Another market commentator, Chandler Bing, noted that PEPE forms a “Cup and Handle” pattern that is rare in technical analysis. This is considered a signal that the uptrend will continue. Additionally, the MACD line crossing the signal line upwards and the ADX indicator measuring at 44 confirm a strong uptrend.

Still, analysts warn that Pepe’s rise could stall at some point. The fact that 97.6% of PEPE holders are in profit after the last rally indicates a potential selling pressure.

Despite Pepe’s volatile nature and whale movements, current technical indicators and market dynamics show that the token could achieve further gains in the short term. However, investors are advised to be cautious about possible corrections.