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Increase in whaling activity boosts PEPE by US$0.000013 in May?
The meme coin craze continues even when Bitcoin and major altcoins like Ethereum, Binance Coin, Solana and more struggle to find direction. As discussed previously, Shiba Inu Price Analysis revealed that meme coins will likely receive more attention, especially from traders looking for alternative assets to avoid the general lethargic price action in the market. The Pepe Coin price prediction, for example, portrays the potential to maintain the uptrend aiming for a new record.
What’s next as PEPE rises by double digits
Pepe Coin stands out as one of the hottest cryptocurrencies on the market CoinMarketCap on Monday. Its value increased by more than 11% in 24 hours, trading at $0.0000972 during US trading hours.
The increase in price was accompanied by a notable increase in trading volume of 142% to $1.06 billion, propelling PEPE into the top ten most traded coins.
A subsequent increase in overall market value by 10% to $4.08 billion reinforced strong bullish control. This analysis seeks to assess the technical and fundamental structure of PEPE amid hopes of a breakout to $0.000013 in May.
Altcoins, especially those known to be highly volatile, will likely experience price movements during this period as Bitcoin consolidates. While such moves may be limited within key ranges, they indicate the potential for further value growth in the coming weeks.
Pepe Coin Price Prediction: How to Navigate PEPE Volatility
Therefore, the continuous increase in Pepê Currency has the potential to reach the highest level in the first quarter of $0.00001083. Note that the frog-themed token holds above several key levels, starting with the 200-day exponential moving average (EMA) at $0.000004437, the 50-day EMA at $0.0000072, and the EMA at $0.0000072. 20 days at $0.00000801. Staying above bull market indicators, as noted, signals the potential to maintain the uptrend.
Pepe Coin Price Prediction: Tradingview
Indicators like the Relative Strength Index (RSI) support the bullish technical thesis. If the RSI enters the overbought region from its current level of 69, buy orders will increase, creating a strong tailwind to support the recovery to $0.000013 – a new all-time high.
Validation of an inverse head and shoulders pattern means that PEPE could potentially extend the breakout from $0.00000972 to $0.000013 – a 50% neckline target.
Other important technical indicators, such as the Moving Average Convergence and Divergence (MACD), add credibility to the bullish theory. A buy signal reinforces price control.
In case Pepe Coin Price corrects to collect more liquidity, traders may observe new entries after the price bounces from the neckline of the inverse head and shoulders pattern.
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John is a seasoned crypto expert known for his in-depth analysis and accurate price predictions in the digital asset market. As the price prediction editor for CoinGape Media’s market content, he is dedicated to providing valuable insights into price trends and market forecasts. With his vast experience in the cryptosphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his constant reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.