- The whales showed their trust in PEPE.
- Continued price rise could push PEPE to $0.00001 soon.
baby Investors have been enjoying a profitable week as the token’s price has surged by double digits. Unlike many cryptocurrencies, PEPE has also continued to rise over the past 24 hours.
However, this may just be the tip of the iceberg, as memecoin has other plans. Let’s take a look at what’s going on.
PEPE Stock’s Recent Bullish Pattern
Coin Market Cap Data Reports revealed that the price of the memecoin coin rose by about 25% in the past seven days, and the PEPE coin also witnessed a significant rise in the past day, as its value rose by more than 3%.
At the time of writing, PEPE is trading at $0.000009315 with a market cap of over $3.9 billion, making it the 25th largest cryptocurrency by volume.
According to IntoTheBlock’s DataDespite the recent price surge, only 69% of PEPE investors have made a profit. However, memecoin has a trick up its sleeve, suggesting that more investors may make a profit in the coming weeks.
Captain Vibek, a well-known crypto analyst, recently posted tweet Highlighting the ascending triangle pattern on the PEPE chart. The pattern appeared in March, and since then the memecoin price has been consolidating within it.
At the time of writing, Memecoin was moving higher and was indicating that it will test resistance in the ascending triangle pattern. In case of an upward breakout, PEPE could record massive gains in September.
Source:X
PEPE’s short-term goal
While PEPE’s chances of showing promise in September are slim, AMBCrypto examined memecoin’s metrics to see what to expect in the near term.
According to our analysis, the trading volume of memecoin has increased as its price has increased. Its MVRV ratio has also improved, which can be interpreted as a bullish signal.
Furthermore, whales were actively buying PEPE, which was evident from the high supply that headlines were holding. However, investors were generally making big moves as PEPE supply on exchanges and supply off exchange charts were closely correlated.
Source: Santiment
Then we evaluated the daily chart of PEPE stock to see what the technical indicators are indicating. The technical indicator MACD showed a bullish crossover.
The PEPE Chaikin Money Flow (CMF) index registered a slight increase and was stable at a neutral level. Both indicators indicate that prices will continue to rise.
Source: TradingView
Reads PEPE Price Predictions 2024-2025
If the price continues to rise, investors may soon see Memecoin reach $0.00001 in the short term.
However, if bears take control of the market, the price of memecoin may drop to $0.000007.
Source: Hyblock Capital