Pepe (PEPE) is one of the meme coins that has gained a lot of popularity, thanks to the community support and the sharp rises it has achieved. Here is a comprehensive analysis:
Current currency performance
• PEPE is currently trading 23.3% below its high this year, but still has a significant year-to-date gain of 1,400%.
• Weekly trading volume exceeded $5 billion, driven by listings on major platforms such as Coinbase and Robinhood, which contributed to increasing the currency’s liquidity and spread among investors.
Technical analysis
• In the short term, the charts show that the currency is moving within formations such as the “ascending channel” and the “ascending flag”, which are signs that may foretell positive movements in the future. Some analysts expect the price to reach levels close to $0.00003 if the positive indicators continue.
• The main technical support is currently at $0.000017, while a break above the resistance at $0.000025 could lead to a fresh upside.
Future expectations
• 2024: The price is expected to range between $0.000021 and $0.000025, with the possibility of sudden increases if new partnerships or listings are announced.
• 2025: If the coin continues to attract whales and community support increases, it may see even bigger gains to $0.000037 or more.
Influencing factors
1. Community Support: An active community is one of the pillars of the success of meme coins like PEPE.
2. Listings on major exchanges: The appearance of the currency on major trading platforms has boosted demand for it.
3. Whale Movements: Large purchases by market whales indicate their confidence in the future growth potential of the currency.
Note
Despite the positive outlook, meme coins remain high-risk due to their high volatility and heavy reliance on psychological and market factors. It is always advisable to conduct thorough research before investing.
