Pepe

PEPE

<p>As memecoins look to extend their 2024 gains, one candidate stands out. <a href="https://www.thecoinrepublic.com/price-prediction/pepecoin/">Pepe price</a> has resumed its rally and looks to extend its gains further. The formation of a bullish pennant pattern in the 4-H charts of Pepe might help it enter a 30% rally.&nbsp;</p> 
<p>Pepe traded at $0.00001271 at press time with 5.39% gains in the last 24 hours and a corresponding trading volume of $1.2 billion.</p> 
<p>Pepe has been one of the best-performing cryptocurrencies this bull season. In the last year, the crypto gained more than 864%. The strong rise has attracted several investors, both retail and whales.</p> 
<h2 class="wp-block-heading" id="h-bullish-pennant-pattern-on-pepe-price-chart"><strong>Bullish Pennant Pattern on Pepe Price Chart</strong></h2> 
<p>On Pepe’s 4-hour chart, the price has broken out of the bullish pennant chart pattern.&nbsp;</p> 
<p>A similar bullish pattern, the Descending Triangle, formed between July 8 and 15 and helped Pepe gain 36%.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="518" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-1024x518.png" alt="Bullish Pennant Chart Pattern on 4H Pepe Charts, Source Tradingview" class="wp-image-621502" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-1024x518.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-300x152.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-768x388.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-1536x777.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-150x76.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-696x352.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85-1068x540.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-85.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Bullish Pennant Chart Pattern on 4H Pepe Charts, Source Tradingview
 </figcaption>
</figure> 
<p>The bullish pennant chart pattern is a super bullish pattern with high returns potential. In the above pattern, the bull pennant can be identified as two oblique lines (in blue) that appear to converge.</p> 
<h2 class="wp-block-heading" id="h-what-do-indicators-say"><strong>What Do Indicators Say</strong></h2> 
<p>The relative strength index (RSI), which measures the strength of the price momentum, shows a score of 59, which can be considered bullish on Pepe charts.&nbsp;</p> 
<p>The RSI shows how strong a cryptocurrency can grow at any given point in time. Higher RSI scores indicate strong momentum, whereas lower RSI scores show weaker momentum.</p> 
<p>The bullishness is also confirmed by another indicator, Moving Average Convergence and Divergence (MACD). The MACD has shown a positive crossover on Pepe’s 4-Hour charts.</p> 
<p>A positive crossover happens when the short-term moving average goes above the long-term moving average. This happens because when the price gathers momentum and moves higher, the short-term moving average rises quicker than the long-term. After all, it is the average of fewer closing prices.</p> 
<h2 class="wp-block-heading" id="h-pepe-price-supports-and-resistances"><strong>PEPE Price Supports and Resistances</strong></h2> 
<p>At press time, Pepe’s price was $0.00001271, up 7.08% in the last 24 hours. The corresponding trading volume was $1.2 billion.&nbsp;</p> 
<p>Pepe has strong support at $0.00001131, followed by the price level of $0.000008. On the upside, the chart shows that resistances are at $0.00001379, followed by&nbsp; $0.00001546, and the final one at $0.00001712.</p> 
<p>If the price of Pepe surges above $0.00001712, it could make a new all-time high after the last one($0.00001718) on 27 May 2024.</p> 
<p>CryptoMutant, a popular crypto analyst on X, also agrees this is a bullish move.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Memecoins are running the market while <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is in a mini consolidation zone.<a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw">#PEPE</a> looks fantastic at the current PA.<br><br>Bullish Penant formation in 4H TF makes me Bullish over this Ticker.<br><br>NOTE: Stoploss will play a crucial role in such volatile coins. <a href="https://t.co/7ycz2KTMPj">pic.twitter.com/7ycz2KTMPj</a></p>— CryptoMutant (@CryptoMutant) <a href="https://twitter.com/CryptoMutant/status/1815991494320480323?ref_src=twsrc%5Etfw">July 24, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-a-small-challenge-ahead"><strong>A Small Challenge Ahead</strong></h2> 
<p>However, Pepe’s rise above the last all-time high does not seem easy. The crypto has witnessed sluggish growth in its on-chain metrics. According to data from Santiment, there has been a slight decline in the new addresses in the last three days.</p> 
<p>Yet, once the crypto makes a new ATH, data changes soon, and we see new users join as the rally proceeds.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/24/pepe-price-gains-864-in-the-last-year-heres-what-to-expect-next/">PEPE Price Gained 864% in the Last Year: Here’s What to Expect Next</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

PEPE Price Gained 864% in the Last Year: Here’s What to Expect Next

Съдържание

Thecoinrepublic.com

Други статии, публикувани на 25.07.2024 г.

Markets Insight: Volatility Overview Vol.11

Could Bitcoin Slip to $60K? IF Bull Fails To Overcome $66K, Update On Altcoin

Donald Trump Presidential Campaign Raises $4 Million in Cryptocurrency Donations

Ethereum Plummets 8.5% Following ETF Outflows: Analyzing the Market Reaction

Trader Who Accurately Predicted Solana’s 10x Growth Believes CYBRO, ZRO, and JUP Could Soar Up to...

Ethereum Stumbles on Debut Day of Spot ETF: What Led to the Dip?

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!