After a brief dip, Pepe Coin ($PEPE ) is making waves in the cryptocurrency market, currently sitting at $0.00002038, down by 1% due to a slight market correction. Despite this recent dip, $PEPE has gained 12.5% over the past week and 27% in the last two weeks, showing strong resilience following a boost from Elon Musk's mention earlier this week. Although it remains 27% off its all-time high (ATH) of $0.00002803, the outlook for PEPE in the long term remains positive, with many traders eyeing a potential rebound in the coming weeks.
๐ฅThe technical indicators also support this bullish sentiment. A notable "golden cross" has emerged, as the 30-period moving average (orange) has recently crossed above the 200-period moving average (blue), a signal of rising momentum. This suggests PEPE could see a significant upward push, especially after a period of consolidation. Additionally, the Relative Strength Index (RSI), which has been hovering above 50, indicates the cryptocurrency is in a favorable short-term phase, further strengthening the case for a price rally.
๐จIncreased trading volume, which has surged from $1.2 billion to nearly $2 billion, signals growing demand for PEPE. Market experts are optimistic, with some projecting the next major target for PEPE to be around $0.000042. While whale activity has been relatively quiet recently, the large holdings in circulation are still a positive sign of long-term interest. As the broader market environment improves and potentially crypto-friendly executive orders are issued by the new president after his inauguration in January, PEPE could see significant growth in the months ahead.
๐Looking ahead, traders are hopeful for a target price of $0.00003 by Q2 2025, with the possibility of reaching $0.00004 by the second half of the year in a bullish scenario. However, while some investors dream of a $1 price point, it remains unattainable at its current supply levels. A substantial team-led supply burn could improve the chances of this ambitious target, but for now, PEPEโs path to recovery looks promising for traders seeking short to mid-term gains.
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