$PEPE Price Could Surge 50%, Key Factors to Watch - CoinPedia Analytics

At press time, PEPE is trading near $0.0000081 and has experienced a price surge of over 7% in the last 24 hours. Despite this impressive price surge, PEPE’s trading volume declined by 11% during the same period. This decline in trading volume might indicate fear and lower participation from traders.

As of now, PEPE’s open interest (OI) is increasing. In the last 4-hours, its OI has increased by 8%, and over the last 24 hours, it is up by 3%, according to an on-chain analytic firm CoinGlass. 

Technical analysts are closely watching PEPE as it approaches a key resistance level of $0.0000084, aligned with the 200 Exponential Moving Average (EMA) on the daily chart. The coin has been consolidating in a narrow range between $0.0000069 and $0.00000822 for four consecutive days.

Should PEPE break out from both this consolidation zone and the resistance level, there’s a strong possibility it could soar by 50%, potentially reaching $0.0000126 or higher in the coming days.