Is PEPE Coin Preparing to Take a Big Jump, Price Targets for PEPE
Release: 2023/11/21 07:46 Reading: 349
- 1 PEPEUSD is currently trading above the key moving averages showcasing bullishness.
- 2 PEPE coin is making a higher-high structure.
PEPE is a meme coin that gained significant popularity after being launched on the Ethereum blockchain. Its creator, Matt Furie, designed it as a homage to the Pepe the Frog internet meme. The primary goal of this cryptocurrency is to take advantage of the growing trend of meme coins, such as Shiba Inu and Dogecoin. Additionally, PEPE aims to establish itself as a prominent meme cryptocurrency while ensuring stability in the market.
Roadmap of PEPE Coin
The first phase of the PEPE coin is already established as a meme, while the second phase aims to spread its influence and encourage long-term holding (HODL). The third phase is focused on dominating the meme scene.
Let’s Analyze the PEPE Coin
According to the data from Coin Market Cap, around 88.18% of all wallet addresses hold a value of $0 to $1K in PEPE coins. Similarly, approximately 11.53% of wallet addresses hold a value between $1K to $100K, while only 0.29% of addresses possess an amount exceeding $100K.
The whale holdings in the coin are 40.81% and the other holds 59.19%. On 19 NOV 2023, the whales had 180.47 trillion Pepecoin, investors had 104.68 trillion coins, and retailers held 130.42 Trillion coins.
PEPE coin is currently experiencing bullish trading above the key moving averages, indicating a positive trend on the daily charts. Compared to other major cryptocurrencies, the price fluctuations for PEPEUSD crypto are relatively more stable at the moment.
If the price can be maintained above the 200 EMA, the buyers have a good chance of achieving their desired outcome. This will favor the anticipated results for the bulls.
The current value of PEPEUSD is $0.00000118696 and it has a market capitalization of approximately $495.575 million at the time of writing.
The price of PEPE has been trending upwards for the past few months. Once it broke out, the PEPEUSD cryptocurrency price has been receiving continuous support from bullish investors at the trendline. By looking at the past price movement, it is evident that the 200-day EMA level has been a significant area of demand.
Indicators Analysis of PEPE crypto price in 1-D Timeframe
In the past three months, the crypto price of PEPE (USD: PEPEUSD) has consistently increased, with gains of 8.71% and 80.29% in the last month alone. Presently, PEPEUSD crypto is striving to maintain this level following an unexpected surge in price.
If the PEPE price can maintain its current level, it has the potential to continue rising and reach the first and second targets of $0.00000145879 and $0.00000160000. However, if the PEPEUSD price fails to sustain this level and declines, it could potentially reach the nearest support levels of $0.00000104520 and $0.00000100502.
At present, the PEPE cryptocurrency (USD: PEPEUSD) is trading higher than the 50 and 200-day SMAs (Simple Moving Averages), indicating strong support for the price momentum. Additionally, the MACD and RSI indicators suggest a positive market outlook.
On the other hand, if there is a significant increase in buying volume, the price could strengthen the upward momentum by reaching higher highs and new highs. As a result, it is anticipated that the PEPE price will rise, indicating a bullish trend on the daily time frame chart.
Summary
The technical indicators for PEPE crypto (PEPEUSD) are indicating support for a bullish trend. The MACD, RSI, and EMA are showing positive signals, suggesting that the uptrend in the PEPEUSD crypto price could continue. Analysis of price action on the 1-Day time frame reveals a bullish sentiment among investors and traders. However, it is advisable for investors and traders to wait for a suitable setup before making the next move and to avoid acting out of fear of missing out (FOMO).
Technical Levels
The support levels are at $0.00000104520 and $0.00000100502.
Resistance Levels: $0.00000145879 and $0.00000160000.
Disclaimer
This article serves solely for informational purposes and does not offer any financial, investment, or other forms of advice. Neither the author nor any individuals mentioned in this article can be held accountable for any financial losses resulting from investments or trades. It is strongly advised to conduct thorough research before making any financial decisions.
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