PEPE Coin Analysis: Heroic Entry of Bulls Broke the Downtrend
Release: 2024/02/23 22:14 Reading: 633
- 1 The PEPE Coin price has made a breakout, and the bullish investors have shown up on the charts.
- 2 This meme coin is purely intended for entertainment purposes and has no intrinsic value.
Meme coins are renowned in cryptocurrency for improving investor sentiment when the market is volatile or stagnant.
The newly released “PEPE” token has set a great example by experiencing an incredible rally of nearly 7,000% since its launch last April. PEPE token now has a market capitalization of over $5 billion, achieved within a month of its launch.
The Grand Debut of PEPE
PEPE made an explosive debut in the cryptocurrency world, surprising the meme token industry completely. Crypto enthusiasts are turning their heads towards this token.
As evidenced by Google search data, April 2023 was a fantastic month for PEPE. The Google Trend score for “PEPE token” increased from three to 100 between 9 April and 15 May 2023, indicating peak popularity for a particular keyword search on Google.
Crypto enthusiasts have every reason to consider the PEPE token the next potential meme coin due to its massive debut and surprising popularity. PEPE has impressed the entire crypto market with its outstanding performance since its launch, demonstrating that it can compete on par with the top major meme coins.
It is natural for crypto investors to consider investing heavily in PEPE due to its immense popularity and the potential to make a quick fortune. However, one must be cautious, as memes can become a joke at any moment. PEPE’s temporary popularity and fame should not overly influence investors, as its hype may dissipate over time.
Financial experts strongly advise that PEPE Coin is purely intended for entertainment purposes and has no intrinsic value. Therefore, there should be no expectation of financial return.
The PEPE Coin Shows a Trend Breakout in The Daily Time Frame
The PEPE coin is currently trading at the level of $0.00000122 after making a breakout from the downtrend. The bullish strength is increased in the token, creating a buying zone that is the least risky as per the current scenario. The immediate support is at the level of $0.00000900, while the 2nd support level is at $0.0000061.
Moreover, if the bullish investors try to break above the level of $0.00000146, they may feel slight resistance from the bears. The 50 and the 150-day EMA are also trading within the price, which means if the bulls can sustain above these levels, they can be a great support in the future price fall.
Summary
PEPE has dramatically impacted the meme token industry with its explosive debut. It’s gained surprising popularity and is considered the next potential meme coin by crypto enthusiasts. Since its launch, the token has shown outstanding performance and can compete with top major meme coins. The EMAs are trading within the price, providing excellent support in the future price fall if sustained above these levels.
Technical Levels
- Support Levels: $0.00000900 and $0.0000061
- Resistance Levels: $0.00001467 and $0.0000175
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or any other related indexes comes with a risk of financial loss.
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