🐸🐸🐸Pepe Coin Rises 17%, Investors Say Technical Setup Is 'Very Bullish'
Pepe (CRYPTO: #PEPE ), the frog-themed meme coin, has risen by 17% in the last 24 hours amid rising whale transactions, approaching the valuation of its rival dogwifhat (CRYPTO: WIF).
What Happened: Full-time cryptotrader Scient notes that Pepe has already departed from the one-day downtrend in lower time zones. But he stresses that a clean break and closure in a one-Jul time frame would be a strong indicator of an upward trend.
Scient also mentions a previous installation from two days ago, which made a full profit (TP) with a 28% move and is now waiting for a drop in the current market trend for the next installation.
He also mentions a previous setup from two days ago, which made a full profit (TP) with a move of 28%. He is now waiting for a drop in the current market trend for the next setup and advises followers to keep their eyes on the chart and wait for the trigger.
MaxBecauseBTC maintains a “Very Bullish” outlook for Pepe based on technical indicators, especially Fibonacci extensions, which lead to a break from a multi-month re-accumulation phase.
Noting that retreats are necessary and healthy, he emphasizes the importance of learning at key levels from both rejections and breakdowns.
Why It Matters: CoinGecko data points to a 34% increase in the last seven days of trading, increasing Pepe's valuation to 2.86 billion, risking its third position compared to Dogwifhat's valuation of $ 2.88 billion.
In terms of trading volume over the past 24 hours, Pepe stands at $1 billion, which is significantly higher than Wif's $497.7 million and Shiba Inu's $754.8 million.
Plasma, a heavily followed crypto trader focused on Pepe, revealed that Pepe holders currently stand at 206,443, and 643 new holders have been added in the last 24 hours.
