The Pepe meme coin has seen a 30% surge over three consecutive days, attracting investor attention. This sharp increase followed Bitcoin’s rebound, which climbed above $105,000 after the Federal Reserve’s interest rate decision.
However, concerns remain about whether this is a genuine reversal or just a temporary bounce, commonly referred to as a "Dead Cat Bounce" (DCB) – a situation where an asset briefly rises before continuing its downward trend.
Pepe Coin Rises, But Is Another Drop Coming?
Pepe, the third-largest meme coin, rebounded from its 2024 low of $0.00001132. However, it still remains 50% below its peak earlier this year.
⚠️ Why Could This Be a Dead Cat Bounce?
🔹 Pepe has formed a series of higher lows and lower highs, a pattern that often signals a bull trap.
🔹 If the price fails to break above the 50-day moving average, it may indicate further decline.
🔹 A breakout above the 50-day MA, on the other hand, could push Pepe toward its all-time high of $0.00002830 (+100% from current levels).
If Pepe drops below the key support of $0.00001132, it would confirm that this was merely a short-term recovery, and the price could slide further to $0.0000060 – marking a new low for 2024.
Analysts Predict Potential Surge to $0.000032
📈 Some analysts remain bullish on Pepe.
🔹 One analyst on X highlighted a bull flag pattern on the daily chart, suggesting that Pepe could rally to $0.000032 (+125%).
🔹 His view is based on the belief that the recent low might have marked the bottom for this cycle.
Whales Accumulate – A Sign of More Upside?
Another bullish indicator for Pepe comes from investor behavior shifts:
🐋 Large "whale" accounts are accumulating Pepe, a signal that sophisticated investors are showing strong interest.
📊 Open interest in Pepe futures remains stable despite the price drop – a possible sign of upcoming upward movement.
Will Pepe Continue Rising or Drop Back?
🔎 If Pepe stays above the 50-day moving average, it could surge another 100% to its all-time high.
🔎 However, if it falls below $0.00001132, it may drop to a new yearly low of $0.0000060.
Whether this is a real recovery or a bull trap will become clear in the coming days. 🚀📉
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