๐๐๐ธ PEPE Breaks Bullish Flag Pattern, Traders Eye 65% Rally
๐ธ PEPE Poised for Massive Bull Run
Pepe (PEPE), the third-largest meme coin, has broken out of a bullish flag pattern, signaling a potential rally. Increased activity from traders and whales has fueled this momentum, with growing interest observed in recent hours.
๐ Traders and Whales Drive Momentum
On-chain data from Coinglass reveals a 13.56% surge in PEPEโs open interest (OI) over the past four hours, indicating heightened trader participation. Whale activity has also spiked, with large transactions rising significantly, according to IntoTheBlock.
๐ Bullish Flag Breakout
CoinPediaโs technical analysis shows PEPE breaking out of a flag and pole pattern on the four-hour chart, a strong bullish signal. If PEPE closes above $0.0000222, it could surge by 65% to reach $0.000036 in the coming days. However, failure to maintain this level could invalidate the bullish outlook.
๐ Key Indicators
PEPE is trading above the 200 EMA on four-hour and daily charts, with its RSI pointing to potential further gains. These technical signals suggest the meme coin could sustain its upward trajectory if market conditions remain favorable.
๐ Current Price Action
At press time, $PEPE is trading near $0.000020, up 5.10% in the last 24 hours. Trading volume has also risen by 18%, reflecting increased trader engagement after the bullish breakout.
