Pepe Escapes Symmetrical Triangle—Will $1 PEPE Follow?

The price of the OG Pepe the Frog ($PEPE) meme currency has gained this year, partly due to Elon Musk, and has seen a bullish technical event that might lead to a short-term upsurge.

The president of Tesla boosted the whole suite of digital assets based on Pepe the Frog last week by changing his profile photo to “Kekius Maximus,” a meme depicting Matt Furie's iconic Roman soldier image.


This was an obvious allusion to Gladiator II, and the combination of Pepe the Frog, the movie, and Elon himself helped boost the value of PTF-themed currencies like PEPE ($PEPE).

This meme currency has gained 11.2% in seven days.

PEPE is the third most valuable cryptocurrency in this category with $8.7 billion in market value, demonstrating its popularity and passionate fan base.

In the same time, Shiba Inu ($SHIB), Dogecoin ($DOGE), and Pudgy Penguins ($PENGU) experienced 11.3%, 20.4%, and 44% price increases as late purchasers entered the area after prices dropped off peak levels.

$$PEPE reaks Symmetrical Triangle, Could Gain 69% Soon

Pepe ($PEPE)'s breach of a symmetrical triangle formation on December 31 is its most promising indicator.

The asset's price rose 8% and trading volumes doubled, signaling investor optimism after this technical event.

Since buyers reversed the recent decline, this break usually implies a trend shift. A rise in trade volumes on the breakout day shows investors value this price level.

Since that break, $P$PEPE s risen 3.9%, and it may soon reach its previous top. For now, $0.00002836 is the biggest obstacle.

If the price rises over this level, Pepe might soar to $0.00003500 quickly, a 68.8% gain from today's values. RSI also supports this idea because the oscillator broke above the signal line.

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