Pepe Price Prediction: PEPE Climbs 20% In A Week To New ATH And Flips UNI By Market Cap, But Analysts Say This New Meme Coin Might 100X
Release: 2024/12/09 16:09 Reading: 798
Pepe Price Surges
The Pepe price has seen a significant increase of 20% in the past week and a further 2% in the last 24 hours. As of 11:26 p.m. EST, Pepe is trading at $0.00002640. Despite this surge, trading volume has decreased by 15% to $7.3 billion.
Pepe Market Capitalization Tops Uniswap
The recent surge in Pepe's price has pushed its market capitalization above that of the Uniswap (UNI) token. According to CoinGecko, Pepe's market cap now stands at over $11 billion, while UNI's remains at $10.8 billion.
Strong Bullish Trend for Pepe
The PEPE/USD chart indicates a strong bullish trend, with a recent breakout and sustained price momentum upwards.
Before the breakout, Pepe consolidated within a range, forming a rounded bottom pattern. This pattern is often considered a bullish reversal pattern. The "neckline" of the pattern is near the 0.00002460 level, which has provided support after being retested by the price.
The surge in the past four days has pushed Pepe above both the 50-day and 200-day Simple Moving Averages (SMAs), further solidifying the bullish trend.
Technical indicators also support the bullish sentiment. The Relative Strength Index (RSI) is approaching the 70-overbought region, indicating strong buying pressure. The Moving Average Convergence Divergence (MACD) line is above the signal line, with both trending upwards, reflecting bullish momentum.
Pepe Price Prediction
Given the strong uptrend, Pepe could target the next resistance levels near $0.00002800–$0.00003000. However, a minor pullback towards the $0.00002213 support zone or the 50-day SMA ($0.00002200) is possible if RSI enters overbought territory.
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