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Cryptocurrency News Articles
PEPE Price Prediction: Can the Frog-Themed Meme Coin Keep Climbing?
Sep 28, 2024 at 11:02 pm
PEPE, the frog-themed meme coin, has caught the attention of crypto traders again with a 4% surge this Saturday.
Pepe Coin (PEPE) has seen a 4.45% surge in its price on Saturday, outperforming the broader market and leading a rally among meme coins. Several factors are contributing to PEPE's recent price rise and influencing its potential for further growth.
Key Points:
- PEPE price rose by 1.97% in the last 24 hours, reaching $0.00001095 with a trading volume of $1.28 billion.
- The meme coin reached an all-time high of $0.00001717 on May 27, 2024, and a lowest recorded value of $0.00000000001057 on April 14, 2023.
- After hitting a low of $0.000005910, PEPE rebounded to a high of $0.00001152.
- The Fear & Greed Index is at 64, indicating a 'Greed' mood in the market.
- PEPE has a circulating supply of 420.69 trillion, which is also its maximum supply.
What's Impacting PEPE Price?
One of the key factors influencing PEPE's recent price increase is the release of Changpeng Zhao (CZ) from prison, which is having a positive effect on market sentiment. As the CEO of Binance, CZ plays a prominent role in the crypto world, and his release is being seen by traders as a sign of stability and growth for the wider crypto sector.
The impact is evident as Binance Coin (BNB) soared past $600 for the first time since mid-July, sparking bullish activity across the market, especially among meme coins like PEPE.
However, CZ's release is not the only reason for PEPE's upward momentum. The meme coin sector has seen renewed energy, with Shiba Inu experiencing a significant 21% surge on Thursday, setting the stage for a broader meme coin rally.
PEPE has led the charge, climbing 4.45% on Saturday, demonstrating a strong breakout from its multi-month downward trend. Currently trading at $0.00001118, PEPE has shown resilience, and its potential for further growth remains high.
In terms of predictive analysis, PEPE is on track to climb an additional 18.74%, reaching the lower boundary of the Fair Value Gap (FVG) between $0.00001323 and $000001421. This optimistic outlook is reinforced by the technical resistance level at $0.00001169, a significant barrier that has influenced price movements throughout August and early September. Should PEPE manage to overcome this resistance, it could indicate a substantial upward movement.
The Moving Average Convergence Divergence (MACD) indicator signals underlying strength, with taller green histogram bars showing increased positive momentum. If PEPE maintains its current trajectory and breaks through key resistance levels, it has the potential to reach its June peak of $0.00001577. The combination of strong market sentiment, technical breakout patterns, and sector-wide momentum positions PEPE for a potential surge in the coming weeks.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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