The circle storm is rising again! PEPE coin soared 20% in 24 hours
Recently, the highly anticipated meme coin PEPE has been like a strong east wind. Its price has soared in a short period of time, and the surge rate in 24 hours has been close to 20%. Behind this feat is a huge layout of a mysterious venture capitalist, who bought an astonishing 141 billion PEPE in one fell swoop. In a month of continuous downturn in the cryptocurrency market, PEPE has become the focus of the market like the brightest star in the night sky.
At present, the price of PEPE is fixed at 0.00001178 US dollars. Although it has fallen slightly from its historical high, the value of the technical indicator RSI (Relative Strength Index) 61 reveals that the rise may be entering the adjustment stage. At this moment, 0.0000119 US dollars has become a key watershed in the price trend of PEPE: once it is lost, it may trigger a round of downward trend; if it can be successfully broken through, it will indicate the start of a new round of rising market.
In addition, it cannot be ignored that the pre-sale of the innovative project Pepe Unchained is unprecedented, with an astonishing annual interest rate of 499%, which has attracted a large amount of funds to lock 321 million PEPU tokens, which undoubtedly injects strong confidence and motivation into the future development of PEPE. Investors are looking forward to how PEPE will open a new chapter driven by the new project.
Looking back at the price trajectory of PEPE, it once surged to $0.000013, and then the RSI indicator showed that the market may be overbought. In this scenario, if the price of PEPE falls below the key support level of $0.0000119, it may face the risk of further falling to $0.0000095 or even lower; and the $0.0000105 area where the 50-day EMA (exponential moving average) is located may become a potential bottom support. On the contrary, if PEPE can break through this key resistance level, its upward trend will undoubtedly be ignited again, and the subsequent resistance levels will point to $0.0000130, $0.0000139 and higher $0.0000149.
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