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The Frog-themed meme coin, PEPE, is swimming in the red pool today. However, its past market performance suggests the coin’s bullish sentiment could uphold the asset above the $0.0000012 zone.
According to Loookonchain, there has been an increase in investors’ interest as a Whale spent a mouth-watering $ 1 million to acquire 807 billion PEPE tokens at the price of $0.000001239.
A whale spent 1M $USDC to buy 807B $PEPE at $0.000001239 7 hrs ago after the price of $PEPE increased.https://t.co/P03KsDrzFi pic.twitter.com/0hjW6ewDjp
— Lookonchain (@lookonchain) August 9, 2023
With this whale’s involvement, the asset may experience a rebound in price in the coming week.
PEPE Coin Shows Strength On Weekly Market
Over the last seven days, PEPE has gained 25% in price and over 12% in the past 14 days. Although its trading value signifies a 2% loss in the last 24 hours today, it still holds above the $0.0000012 price level.
As of 6:40 am EST PEPE, the coin price is $0.00000.140 on the CoinGecko site. Despite the 17% dip in the 24-hour trading volume to $114 million, PEPE projects the potential for signal bullish trends.
PEPE/USDT Daily Chart
The PEPE/USD daily chart below shows that the asset records a bullish sentiment, evident in three green daily candles.
Also, the coin’s breakout from the falling wedge trading pattern, combined with its current trading position above the EMA9 indicator, suggests a potentially bullish scenario for the cryptocurrency.
Breaking out of a falling wedge pattern often indicates a reversal of a downtrend and can mark the beginning of an upward move. Trading above the Exponential Moving Average with a period of 9 further strengthens the bullish outlook.
It’s not uncommon for a coin’s price to retest the breakout level or the EMA9 after a breakout. Such retests can offer additional buying opportunities for those who missed the initial move.
If the market retests the breakout level and continues the uptrend trajectory, it could target the critical resistance level at $0.0000019. In addition, an RSI of 54 indicates that the coin is not currently overbought or oversold, suggesting a balance between buying and selling pressures.
This aligns with the notion of a potential continuation of the upward trend, as it indicates there might still be room for the price to move higher. The fact that the MACD is above the signal line is bullish, implying that the bullish momentum is more robust.
The coin breaking out of the falling wedge pattern, trading above the EMA9, RSI at 54, and MACD above the signal line paints a positive picture for its short-term prospects.
Even though technical indicators analysis is not guaranteed, it suggests that the coin’s momentum is favorable and that the trend might continue upward. On that note, traders and investors should conduct thorough research and consider multiple factors before trading.
Wall Street Memes Sells Hot Following Increased Investor Interest
Wall Street Memes is a fascinating meme crypto project generating a loud buzz in the cryptocurrency ecosystem with its remarkably successful presale. The ongoing presale has raised nearly $24 million over the last few weeks and is drawing nearer to a close.
Several investors who witnessed its success are convinced that this project will replicate Dogecoin and Shiba Inu’s six-figure gains once it hits the market.
With its large and robust community support, Wall Street Memes has secured a place among the best penny cryptos in 2023. The project stands out with its remarkable branding and ideology as it aims to empower ordinary investors to triumph over the capitalist economy.
Wall Street Meme reminds investors that even a useless token and internet joke can increase value and amass massive returns for investors like in Dogecoin’s early days.
The project already demonstrated its potential through the success of its NFT collection sales. The creators raised over $2.5 million through their Wall St Bulls NFT collection sales.
It lightens the stiff crypto ecosystem with humor, leveraging the widespread acceptance of internet memes and the growing popularity of meme coins to scale its price.
The $WSM token currently sells at $0.0334 and will increase to $0.0337 in less than three days. The over $23 million raised out of the presale hard cap of $25.9 million demonstrates a high investor interest in the project.
Interested investors must visit the website to buy the tokens using USDT, ETH, or a Bank card before it sells out.
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