đšPEPE Price Prediction: Hereâs Why the Meme Coin Could Rise By 50%âđš
PEPE rose 12% in a week, with strong buying pressure as the Money Flow Index surpasses the neutral 50 mark.
Above the Ichimoku Cloud, PEPE shows bullish momentum, potentially rising to $0.000015 if resistance breaks.
Failure to hold resistance could lead to a decline, with support at $0.0000067 being crucial for avoiding losses.
PEPE, the frog-themed meme coin, has increased by 12% in the last seven days. This price jump ensured that the token did not fall to a new monthly low.
If market sentiment holds and PEPE can break through key resistance levels, the meme coin could see a substantial 50% rise in the near term. Here is why.
Pepe Sees Rising Money Flow
According to the daily chart, the Money Flow Index (MFI) for the meme coin has surged past the 50.00 neutral area, indicating that buying pressure is dominant. The MFI is a technical indicator that combines price and volume to measure buying and selling pressure and determine whether an asset is overbought or oversold.
Typically, when the MFI falls below 20.00, the asset is considered oversold, and when it rises above 80.00, it is overbought. The current jump in the MFI suggests growing bullish momentum.
As of this writing, the meme coinâs MFI has surpassed the 50.00 neutral points, indicating that buying pressure is dominant.
