Flow

bullish

PEPE

Rise

<p>PEPE, a popular meme <a href="https://www.thecoinrepublic.com/category/crypto/">cryptocurrency</a>, saw a notable rise from the channel’s lowest trajectory. Last week, PEPE price made a double bottom formation and recovered from the support around $0.00000700.</p> 
<p>With a notable follow-on buying activity of over 30% last week, the PEPE price revisited the key hurdle and cluster of $0.00001000. It looked to surpass it. Since Fed Chair Jerome Powell’s statement, memecoins, including PEPE, began the rise.</p> 
<p>Leading the memecoin rally, the&nbsp;<strong>PEPE price</strong>&nbsp;reached the edge of a breakout zone. It is anticipated to surpass the declining trendline to flip the trend. Notably, the memecoin displayed a significant retracement and has set to breach the 100-day EMA mark.</p> 
<p>A daily close above $0.00001000 would trigger a short covering move. Also, a much-awaited breakout rally can be seen in the short term. If the memecoin succeeds in going through the zone, the bear cartel might get trapped.</p> 
<h2 class="wp-block-heading" id="h-where-can-a-falling-channel-take-pepe-price-ahead"><strong>Where Can a Falling Channel Take PEPE Price Ahead?</strong></h2> 
<p>Amid the latest market recovery, meme coins are popping out again, with&nbsp;<strong>PEPE</strong>&nbsp;rising over 30% this week. Breaking out of the weekly consolidation zone, PEPE anticipated a rise and tried to breach the key hurdle of $0.00001000.</p> 
<p>The bulls reappeared and showed strength again, looking to surpass the 100-day EMA cluster to exhibit a next bullish leg up.</p> <iframe loading="lazy" title="Santiment Chart: Price (PEPE), Volume (PEPE)" width="800" height="425" src="https://embed.santiment.net/chart?ps=notcoin&amp;pt=NOT&amp;df=2024-02-27T00%3A00%3A00.000Z&amp;dt=2024-08-25T18%3A29%3A59.731Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bpepe%3BPEPE%5D%3B%5B1%3Bvolume_usd%3Bpepe%3BPEPE%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>However, confirmation was still due; during the intraday session, indecisiveness was observed. Buyers are looking in a dilemma and trying to make the reversal valid.</p> 
<p>PEPE traded at $0.000009054 at press time with an intraday drop of over 0.98%. It reflected a minor decline in the chart.</p> 
<p>The Chaikin Money Flow (CMF) declined over the last few days, standing at the midline of 0.01. This indicated that the money flowing into PEPE may rise ahead.</p> 
<p>@Plazma, in his post on X, said that&nbsp;<strong>PEPE</strong>&nbsp;has crossed multiple EMAs during the last few hours. It is poised to trigger a sharp potential breakout ahead.</p> 
<p>However, the RSI was at 53, implying that the bullish momentum around PEPE was slightly high. Also, it hadn’t reached the overbought territory yet.</p> 
<h2 class="wp-block-heading" id="h-active-addresses-data-showed-a-rise"><strong>Active Addresses Data Showed a Rise</strong></h2> 
<p>With the price uptick, the active addresses data showed a significant rise. This showed that new investors have taken an interest in it.</p> <iframe loading="lazy" title="Santiment Chart: Social Dominance (PEPE), Active Addresses 24h (PEPE)" width="800" height="425" src="https://embed.santiment.net/chart?ps=notcoin&amp;pt=NOT&amp;df=2024-02-27T00%3A00%3A00.000Z&amp;dt=2024-08-25T18%3A29%3A59.731Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_dominance_total%3Bpepe%3BPEPE%5D%3B%5B1%3Bactive_addresses_24h%3Bpepe%3BPEPE%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%2212h%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>However, the social dominance data remained flat, noting around 0.626%. This means that PEPE’s buzz was relatively low, and investors no longer chatted about it.</p> 
<h2 class="wp-block-heading" id="h-network-growth-line-tumbled-to-bottom"><strong>Network Growth Line Tumbled To Bottom</strong></h2> 
<p>However, the network growth line dropped to the lowest point, indicating that the new addresses were losing interest in the memecoin.</p> <iframe loading="lazy" title="Santiment Chart: Network Growth (PEPE), Velocity (PEPE)" width="800" height="425" src="https://embed.santiment.net/chart?ps=notcoin&amp;pt=NOT&amp;df=2024-02-27T00%3A00%3A00.000Z&amp;dt=2024-08-25T18%3A29%3A59.731Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bnetwork_growth%3Bpepe%3BPEPE%5D%3B%5B1%3Bvelocity%3Bpepe%3BPEPE%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B" scrolling="no"></iframe> 
<p>Likewise, the velocity curve also moved to a lower rate, signifying the decline in the frequency of the trades.</p> 
<h2 class="wp-block-heading" id="h-liquidation-data-hints-bearish-move"><strong>Liquidation Data Hints Bearish Move</strong></h2> 
<p>Amid the price decline of over 1%, more longs were liquidated in the last 24 hours. It indicated an early indication of price decline. More than $2.33 Million longs were liquidated at press time, whereas only $179.9k shorts were liquidated.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="282" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-1024x282.png" alt="PEPE Liquidation Data | Source: Coinglass" class="wp-image-681480" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-1024x282.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-300x83.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-768x211.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-1536x422.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-150x41.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-696x191.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-1068x294.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5-1920x528.png 1920w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-5.png 2000w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  PEPE Liquidation Data | Source: Coinglass
 </figcaption>
</figure> 
<p>The $0.00001000 mark is the prompt resistance level to watch in a bullish case. Above it, $0.00001380 is the next ongoing hurdle.</p> 
<p>Conversely, the important support zone was placed around $0.000008950, below it $ 0.000008700 to be watched out ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/26/pepe-price-pulls-back-to-key-hurdle-breakout-looming/">PEPE Price Pulls Back To Key Hurdle: Breakout Looming?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

PEPE Price Pulls Back To Key Hurdle: Breakout Looming?

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