Will PEPE Set a New Record This Bull Run 🚀
The popular memecoin $PEPE has shown resilience after testing key support levels, sparking optimism among investors. Memecoins, driven by community engagement and entertaining content, have regained momentum as Bitcoin surpassed $100,000.
PEPE, one of the most recognized memecoins after Dogecoin and Shiba Inu, stabilized within the support zone of $0.000018 to $0.00002 following its dip on December 9. Analysts at AMBCrypto suggest that if PEPE maintains its position above this crucial support, it could continue its upward trend.
Previously, PEPE reached an all-time high of $0.0000284 before the significant crash on December 9. The recent recovery indicates the coin may have completed its correction phase, which was driven by heavy selling pressure.
Currently trading near $0.000024, PEPE has managed to hold above its 20-day moving average (EMA), providing a foundation for renewed upward movement. The 20-day EMA, aligned with the $0.000018 to $0.00002 support range, is considered a critical level for buyers. A breakdown below this support could push the price down to $0.000015.
On the resistance side, $0.000025 stands as a significant hurdle. Overcoming this level is vital for PEPE to sustain its uptrend. Should the coin break past this resistance, the next target would be $0.0000284. If PEPE surpasses this milestone, it could set a new record by reaching the $0.00003 range, solidifying its position as a leading memecoin.
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