Pepe Coin had a fantastic run in November, doubling its value thanks to positive momentum in the crypto market. But whatās next for this popular meme coin? Letās dive into the analysis to see where Pepe might head in December.
Pepeās Positive Technical Indicators
Pepe Coinās chart shows strong potential for another rally. It recently formed a cup and handle (C&H) pattern, a bullish signal where an asset forms a rounded bottom. For Pepe, the ācupā peak was at $0.00001717, which the coin broke through on November 13. Based on the patternās depth, this breakout hints at a possible rise to around $0.000028.
There are also two additional bullish signals:
1. Falling Wedge Pattern#pepe : Pepe has created a pattern with two converging trendlines, often leading to a strong breakout.
2. Break and Retest Pattern#pepe : After breaking past the key $0.00001717 level, the coin successfully retested it on November 26, forming a morning star candlestick, which is another bullish sign.
With these signals and the coin staying above its 50-day moving average, many traders believe Pepe could hit its C&H target of $0.000028 in December. However, this outlook would weaken if Pepe drops below $0.000016.
Wyckoffās Method Suggests Bullish Momentum
Crypto experts using the Wyckoff Method suggest that Pepe is in the re-accumulation phase, which often precedes a new bull run. This phase indicates that whales (large investors) might be quietly accumulating Pepe, setting the stage for a significant price rally.
Why Pepe Is Still Hot
Pepe remains the third-largest meme coin, with impressive trading activity. On November 28, its 24-hour trading volume reached $4 billion, second only to Dogecoin. This level of interest keeps Pepe in the spotlight and adds to its bullish case.
Whatās Next?
If Pepe Coin maintains its upward momentum, it could potentially rise to $0.000028 in December. But keep an eye on key levels: falling below $0.000016 could invalidate this bullish outlook.
For meme coin enthusiasts, December could be an exciting month for Pepe Coin! What is your thought on this Comment bellowš#Pepe #memecoin $PEPE
