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The Pepe price has pumped 7% in the past 24 hours to trade at $0.000009631 as if 12:30 a.m. EST on a 68% surge in trading volume to $1.09 billion.
Pepe Price Outlook: Bullish Pennant Signals A Bull Rally Ahead
The Pepe price is still trading in a downtrend from its all-time high at $0.00001064, but there are promising signs of a potential recovery within the bearish channel pattern, suggesting that Pepe’s positive trend could continue.
Pepe is rebounding from the channel’s lower trendline, forming a strong support zone at $0.00000863 and helping the bulls initiate a rally.
This upward movement is fueled by determined bulls aiming to push the price above the channel’s upper trendline and initiate a bull run.
PEPEUSDT Analysis (Source: Tradingview)
At present, the price is trading low the 50 simple moving average (SMA) but remains relatively above the 200 SMA, which marks a significant development and possibly heralds the onset of a bullish rally. This uptrend is particularly noticeable around the 50 SMA, suggesting heightened buyer engagement and growing market optimism.
Furthermore, the MACD (Moving Average Convergence Divergence) exhibits a favourable positioning above the neutral level, with the blue line’s recent crossover above the orange signal line. The histogram, which reflects the difference between the MACD and its signal line, indicates positive momentum, showcasing a bullish sentiment prevailing in the market.
The Relative Strength Index (RSI) is bouncing back from the 40 mark, indicating a recent period of downward pressure. However, it has climbed to the midpoint at 50.
This surge in RSI value suggests strong momentum driven by a notable influx of buying activity. Such a trend could push the RSI into overbought territory soon, highlighting the possibility of heightened market enthusiasm and a sustained uptrend in price.
Pepe Price Bulls Poised to Reclaim Its All-Time High
The bearish channel pattern suggests that the ongoing upward trend could continue, pushing the price to even greater heights. If the price breaks above the channel’s upper trendline, it could empower buyers to challenge the resistance level set by the previous all-time high of $0.00001719, with an ambitious target of reaching a new peak at $0.00002025.
On the other hand, if sellers take control of the market, we might see a downtrend below the channel. In this scenario, the price could decline to around $0.00000570, reflecting a temporary pullback before a potential resurgence in bullish momentum.
Is This New ICO Pepe On Steroids?
PEPE’s bullish outlook is fully matched by sentiment around a new meme coin presale called Pepe Unchained ($PEPU), which has already raised over $3.6 million in funding.
We’ve hit another milestone! $3.5M raised!
Pepe’s blockchain journey is unstoppable. Thank you for your amazing support. The best is yet to come! 🐸🚀 pic.twitter.com/IPpMBPGg5z
— Pepe Unchained (@pepe_unchained) July 14, 2024
PEPU comes with its own native Layer 2 network that offers exceptional speed, scalability, and much lower fees, with transactions that are 100 times faster than most Ethereum-based meme coins. PEPU also includes a blockchain explorer, greatly enhancing its transaction transparency.
Pepe's taking blockchain to new heights!
SpiderPepe hanging from the ceiling and ready to drop something big 🕸️🐸 pic.twitter.com/yKAWZKkeTN
— Pepe Unchained (@pepe_unchained) July 11, 2024
PEPU holders can also stake their tokens for a 523% Annual Percentage Yield.
Influential crypto YouTuber Jacob Bury says that Pepe Unchained has the potential to become the next 10x PEPE derivative.
You can buy PEPU directly through the project’s official website for $0.0084261. That price is available only for less than another 15 hours, so buy now if you are interested before an increase.
BUY PEPU using ETH, USDT, BNB, or a bank card.
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