The Relative Strength Index (RSI), known as RSI, suggests a potential retreat for PEPE, a meme-themed altcoin that has recently surged in the market. Currently, it faces resistance at $0.0000058, with speculation mounting that the memecoin could see another 86% increase, given the continuous rise in demand. Furthermore, there is anticipation of a new season dominated by altcoins.

On the daily chart, PEPE demonstrates a bullish trend, supporting its significant valuation surge and indicating potential further growth. Two key indicators bolster PEPE's rise: the EMA (Exponential Moving Average) and RSI. RSI indicates the likelihood of a minor pullback before another surge, while the EMA reflects aggressive buying behavior among traders, holding true for the 20, 50, and 100-day EMAs.

PEPE was last observed trading at $0.000007396, marking a 70.17% increase in the past 24 hours and a 437.40% rise in the last 7 days. Predictions estimate PEPE could soon reach $0.000038, albeit with a potential pullback before the significant leap.

Market sentiment remains optimistic about PEPE's rise, with underlying demand increasing and trading volume reaching $1.58 billion, showcasing a 23% intra-day rise. Additionally, there is significant hype surrounding PEPE, supporting expectations for its next surge.

However, PEPE's prices might face a decline due to reports of whales selling nearly 2 trillion tokens at $0.00000309 each, resulting in profits of $3.49 million, which have been diversified into other tokens like SHIB, SAND, MANA, and GALA, potentially affecting PEPE's valuation.

Although altcoins like SHIB and MANA have experienced increases, there are concerns about a possible pullback for PEPE. Despite this, RSI signals a minor retreat, while the bullish sentiment remains evident in the EMA and daily chart. The 24-hour volume surge by 162.70% indicates renewed enthusiasm and interest in PEPE tokens, with many investors seeking to capitalize on the momentum before any potential pullback.

In the broader context, major altcoins are operating amid speculation of a slight retreat, suggesting a potential upsurge for altcoins alongside significant tokens like Bitcoin and Ethereum in the near future.