Pepe Coin Poised for Significant Growth
Crypto analysts predict that Pepe Coin could soon reach a new all-time high (ATH), driven by activity from large investors (whales) and strong technical indicators. Despite its current 23.3% decline from this year’s peak, the popular meme coin is expected to bounce back.
Analysts Anticipate a New Price Peak for Pepe
According to most cryptocurrency experts, Pepe Coin’s price could increase by 31% and reach a new ATH if the current bullish trend continues.
Renowned crypto trader Bluntz applied Elliott Wave analysis on a four-hour chart to predict that Pepe Coin is nearing a breakout. Bluntz noted that Pepe is forming an ABC pattern and a symmetrical triangle, which often results in sharp upward movements.
Other analysts, including Dami-DeFi and Trader ELM, share this outlook. Additionally, Pepe Coin’s popularity positions it as a strong competitor to Shiba Inu.
Whales Accumulate Pepe Coin
Evidence of growing interest from large investors is supported by Etherscan data, showing that a whale recently purchased Pepe Coins worth over $65 million. Such activity typically signals potential price growth in the near future.
Technical Indicators Favor Pepe’s Price Growth
On November 13, Pepe Coin broke through a critical resistance level of $0.00001721, a significant threshold last seen in March. This level formed the top of a "cup and handle" pattern, a common indicator of a continued upward trend.
After hitting its ATH of $0.00002595, Pepe Coin slightly retreated as some investors took profits. However, it remains above its 50-day and 200-day moving averages, which formed a golden cross—a positive market signal.
Currently, Pepe is forming a “doji” candlestick pattern, often associated with trend reversals. If the price surpasses $0.00002595, it could rise further to $0.000030.
Potential Risk of Decline
On the downside, if Pepe Coin’s price falls below the support level of $0.000017, the bullish outlook could be invalidated. In such a case, the price might target the 50-day moving average at $0.000012, indicating a more significant correction.
#pepe⚡ , #memecoin🚀🚀🚀 , #MemeWatch2024 , #PEPE_EXPERT , #cryptoanalysis
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
