Pepe

PEPE

<p>As memecoins look to extend their 2024 gains, one candidate stands out. <a href="https://www.thecoinrepublic.com/price-prediction/pepecoin/" rel="noopener noreferrer nofollow">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>
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 <img loading="lazy" 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">
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  Bullish Pennant Chart Pattern on 4H Pepe Charts, Source Tradingview
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<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($0.00001718) on 27 May 2024.</p>
<p>CryptoMutant, a popular crypto analyst on X, also agrees this is a bullish move.</p>
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  <blockquote class="twitter-tweet">
   <p>Memecoins are running the market while <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> is in a mini consolidation zone.<a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#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" rel="noopener noreferrer nofollow">pic.twitter.com/7ycz2KTMPj</a></p>— CryptoMutant (@CryptoMutant) <a href="https://twitter.com/CryptoMutant/status/1815991494320480323?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a>
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<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/" rel="noopener noreferrer nofollow">PEPE Price Gained 864% in the Last Year: Here’s What to Expect Next</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

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

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