Will PEPE Reach a New All-Time High?

Popular memecoin $PEPE has managed to bounce back after testing key support levels.

Many memecoins have been on the rise again as Bitcoin has surged above $100,000. Memecoins, which attract investors through community content and entertainment, have been showing positive momentum in recent days.

PEPE, one of the most popular memecoins after Dogecoin and Shiba Inu, has managed to hold on to the support zone between $0.000018 and $0.00002 after its crash on December 9.

AMBCrypto stated that PEPE could continue its rally if it remains above the support zone in question.

According to AMBCrypto, PEPE will need to create a strong price chart to reach a new all-time high. PEPE, which reached an all-time high of $0.0000284 before the major drop on December 9, may have completed the correction phase created by the increasing selling pressure.

According to the analysis, $PEPE, which is trading in the $0.000024 region, managed to stay above the 20-day moving average (EMA). The bounce off this level allowed the price to move higher again.

According to the chart analysis, the support at $0.000018 and $0.00002, which is aligned with the 20-day EMA, should be monitored. This level is reflected as a critical support area for the buyers. If this support is broken, the#PEPEprice is expected to drop to $0.000015.

It has been stated that one of the major resistance levels ahead of PEPE is $0.000025. It has been stated that the resistance point in question must be overcome for the uptrend to continue.

If PEPE manages to overcome the resistance at $0.000025, its next target could be $0.0000284. If this area is also overcome, a new all-time high could emerge and the popular memecoin could touch the $0.00003 range.