🐸 $PEPE The price of the currency will rise to its highest level soon
Cryptocurrency analysts believe that the price of Babycoin will soon reach its highest level, supported by whale activity and strong technical analysis.
The price of Baby coin is still in a bear market after falling 23.3% from its high since the beginning of the year. Crypto experts predict that the popular coin will recover and reach its highest level in the near future.
🔸 Crypto analysts believe that the price of Baby coin will reach a new high
Most crypto analysts agree that it is only a matter of time before the price of Baby surges 31% and reaches an all-time high as the market continues to rise.
Plantz, a well-known cryptocurrency trader, used Elliott wave analysis on the 4-hour chart to predict that the coin will soon make an upward breakout. He believes that it has moved into an ABC pattern and a symmetrical triangle, which is approaching its compatibility level. In most periods, this pattern leads to a strong upward breakout.
This view was shared by other analysts such as Dami-D Fay, who has over 76,000 followers, and ELM trader.
Essentially, traders point out that Baby is one of the most popular meme coins in the industry and has a real chance of overtaking Shiba Inu. Data shows that Baby typically has higher volume measurements than Shiba Inu, indicating demand among traders. It had a 24-hour trading volume of $5.4 billion compared to Shiba Inu’s $1.9 billion.
There are also signs that whales are piling up the coin. Etherscan data shows that a whale bought over $65 million worth of Baby coins on Wednesday.
🔸 Baby price has strong technical analysis
The daily chart shows that the price of Babycoin broke through the crucial resistance level at $0.00001721 on November 13. This was an important level as it was the highest level on March 27 and the previous all-time high.
It is worth noting that this was the top side of the cup and handle pattern, a common sign of continuation.
The coin has now retreated after hitting an all-time high of $0.00002595 as the recovery takes a breather and some investors are taking profits.