Will Pepe Coin Price Surge to $0.000015 in October?
Pepe Coin (PEPE) is showing potential for growth, driven by bullish momentum among major holders. After an impressive 89% rally in September, PEPE has tested the crucial support level of $0.00001, which may be key for its next movement.
1. Technical Breakout: PEPE has broken out of a four-month falling wedge pattern, indicating a possible end to its bearish phase and a shift in market sentiment.
2. Bullish Indicators:
- EMAs: A recent bullish crossover between the 20-day and 100-day EMAs supports positive momentum.
- Support Level: Holding above $0.00001 is critical. A sustained position here could lead to a target of $0.000015.
3. Whale Accumulation: Large holders have increased their stakes, now controlling over 13.51 trillion PEPE. This accumulation indicates strong confidence in potential price appreciation.
4. Profit-Taking Risks: The 30-day MVRV ratio has reached 38.7%, suggesting short-term traders are in profit. This could lead to profit-taking, and if PEPE falls below $0.00001, selling pressure may increase.
If PEPE maintains support above $0.00001 through mid-October, a rally to $0.000015 is likely. Monitoring market sentiment and whale activity will be crucial in the coming weeks.
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