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PEPE Price Predication for December 2024
Pepe (PEPE), the popular and third-largest crypto meme coin, is garnering massive attention from crypto enthusiasts after breaking out of a bullish price action pattern. This breakout in PEPE follows a prolonged consolidation phase lasting more than three weeks.
PEPE Technical Analysis and Upcoming LevelAccording to CoinPedia’s technical analysis, PEPE has broken out of a bullish flag-and-pole price action pattern, closing a strong daily candle above the pole of the pattern. However, this breakout has shifted the overall sentiment among traders and investors.
Based on recent price action, there is a strong possibility that PEPE could soar by 45% to reach the $0.000036 level in the coming days. However, this price prediction is entirely based on the pattern breakout.
Additionally, this breakout has propelled PEPE to a new all-time high, and it is expected to continue its upward rally, potentially setting another record.
On the positive side, PEPE’s Relative Strength Index (RSI) currently stands at 61, which is below the overbought threshold of 70. This indicates that PEPE has sufficient room to rise significantly in the coming days.
Bullish On-Chain MetricsFollowing this breakout, traders’ and whales’ interest and confidence in the meme coin have skyrocketed, as reported by the on-chain analytics firm Coinglass.
Massive PEPE OutflowPEPE’s spot inflow/outflow data reveals that exchanges have experienced a significant outflow of $9.10 million since the breakout. In the cryptocurrency context, outflow refers to the movement of assets from exchanges to wallet addresses for long-term holding.
Outflows from exchanges often indicate potential buying opportunities, reduce the likelihood of a price decline, and suggest the possibility of an upside rally.
Rising Open InterestIn addition to the interest from whales and institutions, traders’ participation has surged since the meme coin broke out of its bullish pattern.
#Pepecoin #PEPE #Pricefield #Memecoin #CryptoNews
Pepe (PEPE), the popular and third-largest crypto meme coin, is garnering massive attention from crypto enthusiasts after breaking out of a bullish price action pattern. This breakout in PEPE follows a prolonged consolidation phase lasting more than three weeks.
PEPE Technical Analysis and Upcoming LevelAccording to CoinPedia’s technical analysis, PEPE has broken out of a bullish flag-and-pole price action pattern, closing a strong daily candle above the pole of the pattern. However, this breakout has shifted the overall sentiment among traders and investors.
Based on recent price action, there is a strong possibility that PEPE could soar by 45% to reach the $0.000036 level in the coming days. However, this price prediction is entirely based on the pattern breakout.
Additionally, this breakout has propelled PEPE to a new all-time high, and it is expected to continue its upward rally, potentially setting another record.
On the positive side, PEPE’s Relative Strength Index (RSI) currently stands at 61, which is below the overbought threshold of 70. This indicates that PEPE has sufficient room to rise significantly in the coming days.
Bullish On-Chain MetricsFollowing this breakout, traders’ and whales’ interest and confidence in the meme coin have skyrocketed, as reported by the on-chain analytics firm Coinglass.
Massive PEPE OutflowPEPE’s spot inflow/outflow data reveals that exchanges have experienced a significant outflow of $9.10 million since the breakout. In the cryptocurrency context, outflow refers to the movement of assets from exchanges to wallet addresses for long-term holding.
Outflows from exchanges often indicate potential buying opportunities, reduce the likelihood of a price decline, and suggest the possibility of an upside rally.
Rising Open InterestIn addition to the interest from whales and institutions, traders’ participation has surged since the meme coin broke out of its bullish pattern.
#Pepecoin #PEPE #Pricefield #Memecoin #CryptoNews
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