Pepe

Bitcoin

when

Currently, the majority of cryptocurrencies are struggling to gain momentum, or we can say they are consolidating or undergoing price correction since March 15, 2024. Amid this ongoing consolidation for a longer period, the world’s 4th biggest meme coin Pepe (PEPE) gained massive attention from investors as well as traders following the formation of a bullish price action pattern. PEPE’s bullish price action attracts investors 
As this bullish price action pattern becomes more visible, investors have increased their interest in PEPE. Currently, PEPE is trading near $0.00000728, and in the last 24 hours, it experienced a massive 5.5% upside momentum. If we look at theperformance of PEPE over a longer period, in the last 7 days, PEPE’s price gained 14% upside momentum. Whereas, in the last 30 days, due to price correction and consolidation, it experienced over 17% downside momentum. 
Besides PEPE’s massive attention, the world’s biggest meme coin DOGE, along with PEPE, gained a massive price surge and led the overall crypto meme industry. However, other meme coins like SHIB, WIF, FLOKI, BONK, and others are struggling to gain momentum.&nbsp; PEPE technical analysis and key levels 
According to expert technical analysis, PEPE on March 2, 2024, broke out of its all-time high as well as a major resistance level. Since the breakout, PEPE experienced a massive over 135% upside momentum. However, after a massive surge in the price, it entered consolidation mode, forming a bullish symmetrical triangle pattern. Additionally, it occurs just before the Bitcoin halving event. Source: TradingView 
As of now, the price of PEPE is heading toward the narrow zone of the symmetrical triangle pattern, and it may soon experience a breakout. If PEPE on a daily timeframe gives a breakout of a symmetrical triangle pattern and also gives a daily candle closing above $0.00000796, then in the coming days, we may see a price surge of over 50%.&nbsp;
However, it was also observed that during this consolidation period, crypto whales heavily accumulated as it looks like they are getting this at a discounted price. Recently, on March 4, 2024, when PEPE was experiencing upside momentum, during that period, a <a href="https://news.todayq.com/are-crypto-whales-choosing-pepe-over-bonk-heres-what-data-says/" rel="noopener noreferrer nofollow">crypto whale</a> added a massive 500 billion of PEPE tokens worth around $2.96 million to its holding, as reported by Todayq News.

PEPE chart hints bullish rally ahead of Bitcoin halving

Todayq News

Other articles published on Apr 12, 2024

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