PEPE price jumps by 40% at Bitcoin rally
PEPE price jumps by 40% at Bitcoin rally

- The price broke the resistance at $ 0.000009 if the trading volume increases by 150 %.
- The accumulation of whales caused an outbreak into the zone of $ 0.000011.
- target levels include $ 0.00001712, 0.00002118 and potentially 0.00006 USD
The Memecoin market is again in focus after Pepe has recorded a dramatic increase of 40 % in the last 24 hours and exceeded Dogecoin, Shiba Inu and other top tokens.
The wider Altcoin-Rally followed the breakthrough of Bitcoin over $ 2,200
As a result, memo coins now lead the profits in the area of decentralized finances, whereby some tokens are recording double-digit climbs within a few hours, since the trust of investors returns.
PEPE, one of the volatile assets in this segment, has just broken a critical resistance at $ 0.000009, while the accumulation of whales and an increase in the trading volume have increased.
Technical indicators indicate that this outbreak could lead to a phase of price discovery and could possibly achieve a new all-time high for the token.
The demand of whales and an increase in the volume drive the outbreak
The trade volume for Pepe shot up, as larger investors, often referred to as "whales", began to accumulate considerable amounts of the token.
The outbreak over 0.000009 USD was viewed as an important technical milestone, since it had acted as a persistent resistance in the past.
The price movement was accompanied by an increase in volume by 150 %, which indicates a strong market interest.
According to reports, Wal-Wallets Pepe bought millions of dollars, which helped to drive dynamics over important price levels.
At the time of writing, Pepe is traded at $ 0.00001334 and exceeded the 0.000011 USD brand that had previously marked the token high.
Source: Coinmarketcap
Technical indicators indicate the next stage of the bull market
The price chart of Pepe shows a double-bottom reversal pattern, whereby the neck line was recently broken through. Weekly technical indicators support a bullish sequel.
The relative strength index (RSI) shows an outbreak into the overbought area, while the MacD bullish is rotated with a cross above the signal line.
The token is currently testing its 200-day average on the weekly time frame.
If he holds support above this level, analysts indicate that a movement in the direction of 0.00001712 is possible, followed by an increase to
In addition, the chart indicates that Pepe could test the resistance channel at around 0.00006, which would mark a new all-time high and put potentially fresh speculative capital.
The profits in the Memecoin sector accelerate
The wider Memecoin market has recorded considerable profits in the last 24 hours.
Book of meme jumped by 30 %, while Fartcoin, MOG Coin, Floki and Apecoin recorded between 18 % and 20 %.
several other, including popular tokens in the top 100 after market capitalization, recorded profits of 15 % or more.
The rally is generally considered by the strength of Bitcoin, which has historically acted as a catalyst for speculative old coins.
The increase in Ethereum over $ 2,200 has also restored trust in more risky crypto-assets, especially in tokens with strong community support such as Pepe and others who have previously experienced bull cycles.
In contrast to some of the smaller tokens, Pepe has succeeded in breaking crucial resistance with strong on-chain activity.
The bullish divergence in the technical indicators indicates persistent purchase interest, since the meme sector enters a phase that describes some traders as "parabolic" with high volatility.
Kommentare (0)