The cryptocurrency market continues to witness the rise of meme coins, with Pepe (PEPE) emerging as a prominent player. Recent whale activity and positive technical indicators suggest that PEPE may be poised for 60% price appreciation.
Meme coin Pepe (PEPE) might experience a 60% price surge if it manages to close a daily candle above the $0.000022 level, based on recent whale activity and positive technical indicators.
Significant whale transactions were observed on November 22, 2024, as a large investor purchased 309.6 billion PEPE tokens, valued at approximately $6.42 million, from KuCoin.
Institutions and whales have been accumulating PEPE, according to on-chain analytics. The large transaction volume has increased by 41.06% in the last 24 hours, indicating growing interest in the meme coin.
Technical analysis reveals a breakout from a bullish flag and pole pattern, suggesting a potential rally to a new all-time high. If PEPE closes a daily candle above the $0.000022 level, it could surge towards a new high of $0.000035, based on the measured move principle.
Despite experiencing a slight 4% price decrease in the last 24 hours, PEPE's overall trend remains bullish as it trades above the 200-day Exponential Moving Average (EMA). The Relative Strength Index (RSI) also indicates potential for further upward momentum.
Meme coins have become a prominent part of the cryptocurrency market, attracting both investors and traders. With strong whale interest and positive technical indicators, PEPE could be poised for a substantial price rally.
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