Pepe Coin

Pepe

Coin

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/12/JHhZvbSA-e1701702740584.png" class="attachment-full size-full wp-post-image" alt="Pepe Price" decoding="async" style="float:right; margin:0 0 10px 10px;">
As the broader crypto market experiences a resurgence, <a href="https://coingape.com/bitcoin-btc-price-smashes-past-40000-first-time-in-18-months-whats-next/">primarily driven by Bitcoin</a>, Pepe Coin has also witnessed a notable upward trajectory over the past week. This memecoin’s value escalated from a support level of $0.00000103 to $0.0000015, marking a significant 46% increase. This upturn developing into a bullish reversal pattern suggests that the Pepe Coin is positioned for continued growth. 
Also Read: <a href="https://coingape.com/crypto-cases-in-2023-in-which-us-sec-got-humiliated/">3 Crypto Cases In 2023 In Which US SEC Got Humiliated</a> 
<h2 id="will-pepe-coin-price-hit-0-000002">Will Pepe Coin Price Hit $0.000002?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The formation of a flag pattern offers buyers a break to restore bullish momentum for the next leap</li> 
 <li style="font-weight: 400;" aria-level="1">A potential bullish crossover between the 20-and-200-day EMA could accelerate the buying momentum.</li> 
 <li style="font-weight: 400;" aria-level="1">The 24-hour trading volume in the Pepe coin is $132 Million, indicating a 69% gain.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/j/JHhZvbSA.png" alt="Pepe Coin" width="1946" height="1105">
 <figcaption class="wp-caption-text">
 Pepe Coin | TradingView Chart
 </figcaption>
</figure> 
Over the last seven months, the <a href="https://coingape.com/price/pepe-coin/">Pepe Coin price</a> has experienced a shallow downtrend, encountering resistance from a descending trendline. However, amid the market’s recovery phase, this frog-themed memecoin gained momentum from mid-October, rebounding from the $0.0000062 level.&nbsp; 
<blockquote>
 This recovery led to a substantial 140% increase in price and the formation of an inverted head and shoulder pattern, a bullish reversal indicator. Currently, the Pepe price is in the final stages of this pattern’s development, which is the right shoulder.&nbsp;
</blockquote> 
Coincidentally, the neckline resistance of this pattern lies at $0.00000147, close to the aforementioned resistance trendline, marking a high supply zone. With an early hours 20% gain, the buyers showed an attempt to breach overhead resistance levels.&nbsp; 
A successful bullish breakout above $0.00000147 with a daily candle closing could offer traders an entry point, potentially extending the recovery to $0.00000118 and then to $0.00000208, implying a possible 60% growth. 
<h2 id="strong-is-pepe-coin-at-risk-of-further-downfall-strong">Is Pepe Coin at Risk of Further Downfall?</h2> 
At the time of writing, Pepe Coin is trading at $0.00000126, having relinquished much of its early gains. This has resulted in a daily candle characterized by a long wick, indicative of selling pressure at the dual resistance levels and a potential risk of decline. Nonetheless, as long as Pepe Coin maintains its position above the last swing low support of $0.000001, a bullish outlook remains viable 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Averages: The&nbsp;Pepe price trading above daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a> (20, 50, 100, and 200 days) reinforces the ongoing recovery trend.</li> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope at 35% signals a potential exhaustion of bullish momentum, suggesting that a minor pullback or consolidation might be necessary before the coin can make its next upward leap.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/is-it-a-good-time-to-buy-pepe-coinpepe/">Is It A Good Time to Buy Pepe Coin(PEPE)?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Is It A Good Time to Buy Pepe Coin(PEPE)?

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