The cryptocurrency $PEPE has experienced notable growth and market activity throughout July 2025. Starting the month by surpassing resistance levels of 1100 and 1300, $PEPE continued to climb, reaching above 1400 by mid-July. The token's market capitalization was reported around $5.42 billion, approximately half of its previous all-time high near $11.6 billion. Analysts and community members have highlighted $PEPE's potential for a substantial breakout, with expectations of a bull run lasting over six months and a possible market cap increase to between $20 billion and $42 billion. The growth is partly attributed to a favorable environment with Ethereum ($ETH) reaching all-time highs, as $PEPE historically tends to surge about ten days after $ETH's upward movement. Daily new holder counts ranged from several hundred to nearly 700, with the total number of $PEPE holders reaching 470,000 by late July. Additional factors influencing $PEPE's momentum include the passing of a new crypto bill, BlackRock's filing to add staking to its Ethereum ETF, and increased visibility such as a post by former President Trump on Truth Social featuring $PEPE. Market analysts have noted that $PEPE is currently in a critical support zone, with potential for higher lows or further declines depending on trading volume and market dynamics. The $PEPE community also reported a lending volume of 203,100 USDC collateralized by $PEPE tokens. Despite a brief dip following a lack of rate cuts, the sentiment remains optimistic with expectations of a breakout phase, sometimes referred to as the start of '$PEPE season.'