đžđžAs PEPE has declined 12% from its recent all-time high of $0.000011, set last week after Roaring Kitty's unexpected return to X, traders are contemplating if now is the time to buy the dip. The price, which surged due to the renewed interest in meme stocks and coins, has since dropped to just above $0.000010. Chart analysis suggests it may be too soon to buy this dip.
đźDespite the decline, PEPE remains supported by key short-term moving averages and is still trading at a significant premium. Earlier this week, it broke through an ascending triangle pattern. Traders considering a long position should wait for a retest of the upper boundaries of this rising triangle. A solid support level is expected around $0.00000920.
With a market cap just under $4.3 billion, PEPE has potential for further growth, especially as its popularity rises. Bullish investors believe PEPE could eventually compete with leading meme coins DOGE and SHIB, which have market caps of $21.9 billion and $14.6 billion, respectively. Dogecoin has 3.9 million Twitter followers, while Shiba Inu has 3.8 million.#MemeWatch2024 #Pep #Doge #Shib $PEPE
