Pepe Price Prediction: PEPE Pumps 7% As This Pepe Derivative ICO Raises $2.2 Million In Only 1 Day – Next Crypto To Explode?
Release: 2024/12/12 17:59 Reading: 488
Pepe Price Surge: Meme Coin Gains Momentum
The Pepe price has witnessed a notable increase of over 7% in the past 24 hours, reaching $0.00002491 as of 3:55 AM EST. This surge has contributed to a 15% gain in the meme coin's weekly performance, solidifying its position as the third-largest meme coin by market capitalization.
Pepe Price Approaches Support
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4-Hour Chart for PEPE/USD (Source: GeckoTerminal)
Currently, the Pepe price is hovering near $0.00002408 after briefly exceeding this level. According to data from GeckoTerminal, a break below this recently formed technical support could trigger a correction to $0.00002138 in the near term.
However, an ascending trend line has emerged on the crypto's 4-hour chart, providing potential support and preventing a significant drop to $0.00002138.
Bullish Outlook
In a more optimistic scenario, the Pepe price could rebound from $0.00002408, establishing another higher low and continuing its current upward trajectory. This could encourage traders to invest in the meme coin, potentially driving PEPE above the $0.00002875 resistance. A decisive 4-hour candle close above this barrier could pave the way for a rise to $0.0003152.
Technical Indicators Suggest Further Appreciation
Technical indicators on PEPE's 4-hour chart signal that the meme coin's rally may have only just begun. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are exhibiting bullish signals.
RSI readings have been rising, indicating growing bullish momentum. The indicator has also moved above the neutral 50 benchmark, suggesting that buyers have gained an advantage over sellers on the 4-hour chart. With the current positive slope of the RSI, it appears that bulls are gaining strength, which could lead to an increase in PEPE's price.
Additionally, the MACD is on the verge of triggering a major bullish technical flag as the MACD line attempts to break above the MACD Signal line. If the gap between the two lines widens, it could be interpreted as a sign of increasing bullish momentum for PEPE.
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