PEPE has recently become a popular choice among traders, achieving a 19% increase over the week, whereas Ethereum saw a 1% decline. The appointment of pro-crypto SEC chair Paul Atkins has revived interest in the crypto market, sparking debates about which cryptocurrencies to invest in. Despite Ethereum’s stagnation, PEPE is attracting fresh retail investment, signaling strong momentum in its favor.

### Can PEPE Outshine Ethereum?

For PEPE to overtake Ethereum in terms of market capitalization, it would need to increase 56 times from its current value. Although this seems ambitious, it’s not entirely out of reach, considering the long-term growth potential of PEPE. Recent data from Santiment indicates a significant drop in exchange-held PEPE supply from 45% in November to 28.9%, suggesting a move towards self-custody by long-term investors, reflecting growing confidence in the asset.

Additionally, whale investors have increased their PEPE holdings from 116 trillion to 150 trillion tokens. This type of accumulation often precedes a larger market rally, hinting that big investors are betting on PEPE’s success ahead of wider market recognition.

### PEPE’s Potential Bullish Trend

Analysis from TradingView suggests that PEPE could be on the verge of a major bullish breakout. Drawing parallels to a previous pattern from May to September 2024, this could set the stage for significant gains. The formation of two distinct swing highs and lows indicates a reversal structure, supported by a long-term support zone. Indicators like the MACD line and the weekly Relative Strength Index (RSI) provide further evidence of potential bullish continuation.

The analysis points to a potential 480% increase to $0.0000426, based on the 1.618 Fibonacci extension level. An even more optimistic scenario suggests an 800% increase to $0.00006575, according to the 2.618 extension, possibly within the next two years.

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