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- 1 Pepe (PEPE) coin price directs bullish momentum and reaches its ATH mark.
- 2 Buyers have shown their dominance and are still aiming to go higher.
The market leader, Pepe coin witnessed a gigantic up move of over 22% intraday, is in strong bullish momentum, and has outperformed the crypto market in the past weeks. The memecoin has decisively managed its gains and is on the list of top gainers in the last 24 hrs.
Amidst the market correction, the PEPE coin has defied the bearish wave and reflected a sharp rally of over 70% this week. Notably, the memecoin has retested its all-time-high zone of around $0.00001070 and is ready for another bull run.
At press time, PEPE price traded at $0.00001068 with a sharp surge of 21.10%, reflecting intense bullish momentum overnight. It has a monthly return ratio of 111.28% and 496.90% yearly, demonstrating the bullish trend over the past few months.
The pair of PEPE/BTC is at 0.000000000173 BTC, and the market cap is $4.49 Billion. Analysts have given an overweight rating and suggest that the PEPE price may continue to outperform and ride on the bullish track.
“Roaring Kitty” Boosting PEPE price?
The newly minted token “Roaring Wolverine” witnessed an intense surge over 80% within a few hours after its release. The presence in the social media of “Roaring Kitty ” might have boosted the memecoin market.
When the Pepe coin breached the trendline hurdle of $0.000006700, sharp bullish momentum triggered the rally. Afterward, the coin managed to cross the 20-day EMA mark, and the much-awaited bull run was marked.
Still, the coin is poised for another breakout and might surge 5-8% ahead. Above its ATH, the memecoin will surely skyrocket gains and may reach the upside of $0.00001260, followed by $0.00001400 soon.
Notably, Pepe coin is riding in the uptrend in the bullish trajectory. Additionally, buyers have persisted in accumulation, and a sharp spike of over 327.67% to $2.90 Billion in the last 24 hrs was noted.
The RSI curve skyrocketed to the overbought region, and a positive crossover was noted. Similarly, the MACD indicator highlighted green bars on the histogram depicting the outperformance of the Pepe coin.
Surge in Price Volatility
Following the price-up move, the volatility curve represents massive fluctuation and has risen over 34.38% to 0.074. This movement symbolizes the investor speculation and demand for the memecoin.
Source: Santiment
Similarly, the weighted sentiment data stayed above the midline at the 0.27 mark, representing a positive outlook.
Futures Data Highlights Fresh Long Buildup Activity
Following the price surge, the derivative segment highlights investor speculation and fresh long buildup. The open interest spiked over 33.23% to $120.27 Million in the last 24 hrs.
Source: coinglass
The immediate support levels for Pepe coin (PEPE) are $0.00001020 and $0.00000980, whereas the key upside hurdle is around $0.00001200, followed by $0.00001380.
Conclusion
The Pepecoin (PEPE) replicates an uptrend and is on the verge of a rounding bottom formation breakout. Sellers have stayed on the backfoot and looked trapped now.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
