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- PEPE price is up more than 3% in the last 24 hours.
- Some market indicators were bearish on memecoin.
After a week of falling prices, babyThe price of PEPE has once again gained bullish momentum. This recent uptrend may continue as memecoin broke a crucial level. Let’s take a better look at what’s happening with PEPE.
PEPE Stock Bullish Breakout
Coinmaclaire cap Data She revealed that PEPE stock witnessed a major price correction last week, as its value decreased by more than 2%, but things improved during the past 24 hours.
The price of memecoin is up more than 3%. At the time of writing, PEPE is trading at $0.00001216 with a market cap of over $5.8 billion, making it the 22nd largest cryptocurrency by volume.
Thanks to this, more than 83 percent of PEPE investors have made profits, according to IntoTheBlock. Data.
Meanwhile, Memecoin managed to break out of a bullish pattern, indicating that the price will continue to rise.
World of Charts, a popular crypto analyst, recently published tweet Highlighting an interesting development. According to the tweet, PEPE broke out of a bullish pennant pattern, which could lead to a 30% rally..
The pattern appeared on the PEPE chart in July, and since then it has been consolidating within the pattern. If we believe this analysis, PEPE could soon reach $0.000017 in the coming weeks.
Source:X
What to expect from PEPE
AMBCrypto then examined Santiment’s data to see what the metrics indicated. According to our analysis, memecoin supply on exchanges has decreased while over-the-counter supply has increased, indicating increased buying pressure.
The trading flows of the meme coin also increased in the past week, which confirmed the fact that buying pressure is increasing.
However, whales did not make a big move last week, which was evident from the flat view maintained by the top-listed headlines.
Source: Santiment
Aside from the increased buying pressure, another bullish metric was the MVRV ratio, which remained elevated last week. Its daily active addresses also remained largely stable last week.
However, its network growth has slowed down. This indicates that the number of addresses created to transfer the token last week was lower.
Source: Santiment
is reading baby [PEPE] Price prediction 2024-25
Then AMBCrypto planned to check the daily chart of memecoi. According to our analysis, the MACD showed the possibility of a bearish crossover.
The Relative Strength Index (RSI) is down, indicating that the chances of a price correction are high. However, the Money Flow Index (MFI) is up, indicating that prices will continue to rise.
Source: TradingView
