Pepe Coin, a popular frog-themed meme coin, has seen a significant increase in its price after breaking above its all-time high. Market participants have become more bullish on the coin, especially after it recorded an 8-month high in its weekly trading volume. With trading volume reaching over $5 billion and the price currently at $0.00002012, there is potential for an upside move of 280%.
This increase could be attributed to the recent listing of Pepe Coin on both Coinbase and Robinhood, which has spotlighted the coin and increased its popularity among investors. Onchain analytics firm Saintly shows that the Trending Social Rank of PEPE remained in the top 10 on certain days, coinciding with skyrocketing prices.
Technical analysis suggests that the PEPE price is headed for a 280% rally, supported by a bullish rising channel on the 1-week chart and a hidden bullish divergence on the 4-hour chart. Additionally, the small 4-hour bull pennant forming indicates a potential 91% rally, reaching $0.00004. If the price breaks above the pennant, it could lead to a multi-fold surge in the price.
Furthermore, the hype from Coinbase and Robinhood listing, along with Elon Musk’s recent tweet featuring Pepe the Frog, may contribute to the price increase. The Pepe Coin price surge is also fueled by its listing on Coinbase and Robinhood, increased trading volume, and strong social media attention.
In summary, Pepe Coin has seen a significant price increase and has the potential for further gains due to its listing on major exchanges, increased trading volume, and strong social media support. Technical analysis suggests that the price could potentially surge by 280% in the coming days. However, it is essential to conduct thorough market research before investing in cryptocurrencies.
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<p>The post Pepe Coin: Surge in Price and Trading Volume Can It Reach 280% Upside? first appeared on CoinBuzzFeed.</p>
