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<p>The post <a href="https://coinpedia.org/news/pepe-price-could-surge-50-key-factors-to-watch/" rel="noopener noreferrer nofollow">PEPE Price Could Surge 50%, Key Factors to Watch</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>On August 8, 2024, the overall cryptocurrency market is looking bullish, as top assets including <a href="https://coinpedia.org/news/will-btc-hit-62500-peter-brandts-bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>, Ethereum (ETH), and Solana (SOL) have experienced a massive upside rally. Amid this uptrend, Pepe (PEPE) the world’s third biggest meme coin is gaining significant attention from the crypto community as its chart looks super bullish.&nbsp;</p>
<h2 class="wp-block-heading" id="h-pepe-s-bullish-chart-nbsp"><strong>PEPE’s bullish chart&nbsp;</strong></h2>
<p>Additionally, PEPE’s bullish chart is also being shared by crypto experts. Recently, a prominent trader made a post on X (Previously Twitter) noting that back in April 2024, PEPE experienced a remarkable upside rally following the breakout of a consolidation zone after its price decline. A similar kind of consolidation has been observed in PEPE’s chart after the recent decline.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">Bottoms take time to form.<br><br>Look at <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> back in April before the incredible run to an all-time high, and see it took several days to form a proper bottom before starting to rise.<br><br>In moments like this, it's important not to be shaken out and to hold on until the next pump! <a href="https://t.co/jEFz3j2dvg" rel="noopener noreferrer nofollow">pic.twitter.com/jEFz3j2dvg</a></p>— Sjuul | AltCryptoGems (@AltCryptoGems) <a href="https://twitter.com/AltCryptoGems/status/1821209182894485934?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 7, 2024</a>
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<p>He noted that we may see a similar kind of rally once this consolidation area breaks.&nbsp;</p>
<h3 class="wp-block-heading" id="h-pepe-price-performance"><strong>PEPE price performance</strong></h3>
<p>At press time, PEPE is trading near $0.0000081 and has experienced a price surge of over 7% in the last 24 hours. Despite this impressive price surge, PEPE’s trading volume declined by 11% during the same period. This decline in trading volume might indicate fear and lower participation from traders.</p>
<p>As of now, PEPE’s <a href="https://www.coinglass.com/pro/futures/LiquidationMap" target="_blank" rel="noopener noreferrer nofollow">open interest</a> (OI) is increasing. In the last 4-hours, its OI has increased by 8%, and over the last 24 hours, it is up by 3%, according to an on-chain analytic firm CoinGlass.&nbsp;</p>
<h2 class="wp-block-heading" id="h-pepe-price-prediction-nbsp"><strong>PEPE price prediction&nbsp;</strong></h2>
<p>According to expert technical analysis, PEPE is at a crucial resistance level of $0.0000084, near the 200 Exponential Moving Average (EMA) on a daily time frame. Additionally, it has been consolidating within a tight range for four consecutive days, between $0.0000069 and $0.00000822 levels.&nbsp;</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="448" src="https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47-1024x448.png" alt="" class="wp-image-336252" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47-1024x448.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47-1536x672.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/09002611/PEPEUSDT_2024-08-09_00-25-47.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
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  Source: Trading View
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<p>If PEPE gives a breakout of both the consolidation zone and the resistance level, there is a high chance it could soar 50% to the $0.0000126 level or even higher in the coming days.</p>
<p>Currently, most cryptocurrencies are experiencing major breakouts and have seen remarkable upside moves since the market crash. However, PEPE remains in a consolidation zone, which is a positive sign for a potential upcoming rally.&nbsp;</p>
<h3 class="wp-block-heading" id="h-major-liquidation-level"><strong>Major liquidation level</strong></h3>
<p>As of now, the PEPE’s major consolidation zone is at near $0.0000077 on the lower side and $0.00000848 on the upper side.</p>
<p>If it gives a breakout and soars to the $0.00000848 level, nearly $860K worth of short positions will be liquidated. Conversely, if PEPE’s price falls below the $0.0000077 level, nearly $5 million of long positions will be liquidated. This higher leverage on the long side indicates that bulls are controlling the situation, while the short seller looks exhausted.&nbsp;</p>

PEPE Price Could Surge 50%, Key Factors to Watch

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