PEPE Price Prediction: Here’s Why the Meme Coin Could Rise 50%
PEPE, the frog-themed meme coin, has surged 12% in the last seven days. This price surge ensured that the token will not fall to a new monthly low.
If market sentiment continues and Pepe can break through key resistance levels, the meme coin could see a massive 50% surge in the near term. Here’s why.
PEPE Coin Sees Increased Fund Flow
According to the daily chart, the Money Flow Index (MFI) for the meme coin has crossed the 50.00 neutral zone, indicating that buying pressure is prevailing. 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 drops below 20.00, the asset is considered oversold, and when it rises above 80.00, it is considered overbought. The current jump in MFI indicates increasing bullish momentum.
As of this writing, the meme coin’s MFI has crossed the 50.00 neutral mark, indicating that buying pressure is prevailing.
