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Here’s Why $PEPE May Surge Another 22% – Crypto News

Published

3 years ago

November 6, 2023

Dripp

Pepe Coin Price Prediction: A bullish breakout from the flag pattern hints at the end of the correction trend.

Published 21 mins ago

Pepe Coin Price Prediction: In the backdrop of growing volatility in the cryptocurrency market, Pepe Coin has experienced a moderate downturn over the recent fortnight. Amid this pullback, the coin’s value diminished from its peak of $0.00000136 to $0.00000102, marking a 25% retreat. Nonetheless, this downturn has taken the shape of a bullish flag pattern, a classic signal for the potential continuation of the prior uptrend.

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Healthy Retracement Set Potential Upswing

The formation of a flag pattern offers buyers a break to restore bullish momentum for the next leap
The post-correction rally is likely to set a 22% upswing in this memecoin
The 24-hour trading volume in the Pepe coin is $132 Million, indicating a 69% gain.

Source- Tradingview

In the latter part of October, the Pepe coin price surged impressively from a support level of $0.00000061 to $0.00000136, charting a 124% increase. However, with the increasing uncertainty among market leaders, this frog-themed memecoin entered November in a correction mode.

This pullback plunged the coin price to $0.00000105 support, coinciding with the 38.2% Fibonacci retracement—often considered a harbinger of a healthy long-term bullish trend. Moreover, the four-hour chart reveals this pullback is forming a bullish flag pattern, which supports the principle of minor retracement before the next leap.

With a 5% intraday upswing, the buyers have propelled the price past the flag’s upper trendline, potentially signaling an upward trend continuation. Following this pattern, the Pepe price could eye an immediate target of $0.0000014, suggesting a 22% ascent, with prospects for advancing towards $0.0000019.

PEPE vs DOGE vs SHIB Performance

Source: Coingape| Pepecoin Vs Dogecoin Vs Shiba Inu Price

Over the past three months, the Pepe price has exhibited greater volatility when contrasted with more stable meme cryptocurrencies like Dogecoin and Shiba Inu. Amid the fluctuations, the Pepe Coin has notably capitalized on the recent market uptrend, showcasing a significant rally in the last three weeks. This presents a viable opportunity for aggressive traders seeking rapid profits, while conservative investors might prefer the relative stability offered by DOGE and SHIB.

Bollinger band: The upper boundary of the Bollinger band going flat around the $0.0000014 mark can offer an additional barrier against buyers.
Moving Average Convergence Divergence: The MACD and a signal line above the zero line reflect the bullish trend is intact.

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