The price of Pepe coin (PEPE/USD) has surged more than 40% in the last week, leaving traders split on whether this rally has more room to run or if a correction is imminent.

Here's what some traders are saying about Pepe coin and what technical indicator is flashing a cautionary signal.

What Is Happening With Pepe Price Today?

Pepe coin price rose 7.4% in the last 24 hours to $0.00001358 by the time of writing on Friday morning.

The meme coin is up over 40% for the week and 1,000% since the start of the year.

What Traders Are Saying About PepePEPE Price Chart By TradingView

Trader MaxBecauseBTC pointed out that short-term pepe coin holders, wallets that bought within the last 30 days, are beginning to climb again after four months of decline, according to a X post.

Historically, this kind of growth has preceded strong price moves, signaling that speculative interest is back and potentially fueling the current rally.

But trader Ali Martinez highlighted a cautionary signal. The TD Sequential indicator on pepe's daily chart is now flashing a sell signal, suggesting a potential near-term pullback.