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Pepe Coin (PEPE) price has consolidated within a descending parallel channel since early July, constituting a 55% load-shedding exercise. This took the meme coin to an all-time low of $0.00000075, recorded on September 1. However, the frog-themed token has been nurturing an uptrend over the last three days, bolstered by technical indicators suggesting a renaissance. This is so much so that meme coin proponents compare it to Dogecoin (DOGE).
i can tell you right now that if $pepe fails to flip $doge
no meme coin will
he is our best chance pic.twitter.com/Dk65pEynpW
— Cold (@coldxbt) September 3, 2023
Pepe Volume Metrics Rising
Data from Santiment shows that volume metrics for Pepe are on a steady rise. For one, the social volume is increasing, meaning the number of mentions of the coin on over 1,000 crypto social media channels.
Another volume metric that shows promise for the meme coin is the aggregate amount of PEPE tokens across all transactions on the network. This is irrespective of whether these coins moved in profit or loss for the asset in an interval. It points to a token that remains alive even as investors look to identify projects with good prospects.
Pepe Price Forecast As Pepe Nurtures Uptrend
Over the last three days, Pepe has recorded green candlesticks, steadily rising to the current price of $0.00000080. The rise is commendable, considering the altcoin is currently testing the midline of the descending parallel channel at $0.00000083. This constitutes a 7% climb into the month, with prospects for more gains.
Increased buying pressure above the current price could see Pepe coin surpassing the channel’s midline resistance at $0.00000083. This is before a confrontation with the channel’s upper boundary at the psychological $0.00000100 level. A decisive break above this level would vindicate PEPE from the foothold of the bearish technical formation. Confirmation for this move would be a decisive move above the $0.00000107 resistance level.
Other hurdles that Pepe price would need to overcome in the northbound move include the 50- and 100-day Exponential Moving Averages (EMA) at $0.00000112 and $0.00000128 levels, respectively.
In a highly ambitious case, Pepe’s price could foray into the supply zone at $0.00000130, denoting a 60% climb above current levels. The last green candlestick marks this order block before a downtrend and comprises an area where sellers abound. As such, expect a correction around this level, possibly below the mean threshold (midline of the supply zone) at around $0.00000139.
Technical Indicators
To support this bullish outlook, the Relative Strength Index (RSI) is heading north, pointing to rising momentum. Furthermore, it is about executing a buy call by crossing above the signal line (yellow) band. Traders heeding this bullish call could increase the buying pressure.
Similarly, a close look at the histograms of the Awesome Oscillator shows that the bars’ volumes have remained steadfast over the last six days. This points to bulls in a good fight to oppose the downward pull. If more bulls come in, the AO could flip positive, adding credence to the optimism.
Converse case
Conversely, early profit-taking is the biggest threat to the budding uptrend. It could see Pepe’s price rejected from the $0.00000083 resistance level, possibly to test the standing all-time low at $0.00000075. The meme coin could drop further in the dire case to mark a new low.
Take note of the red histogram bars of the AO. The bearish outcome is still likely as bears still have a strong presence in the PEPE market.
Even so, you still have alternative options that are, in fact, more promising than PEPE. Consider WSM, the ticker for the Wall Street Memes ecosystem, featuring within portfolios of even the most skilled traders.
Promising PEPE Alternatives
Wall Street Memes, set for listing in tier one exchange soon, is making headlines. Experts place it among tokens with 10X potential.
Standing among the biggest communities in the crypto sphere, as indicated by massive social engagement, the $WSM token looks to legitimize loyal supporters of the movement. Citing an excerpt from the website reads:
Wall Street Memes is the tokenization of the retail movement against Wall Street’s orchestrated monopoly of financial markets.
The project recently launched a staking feature to reduce selling pressure while offering income-earning opportunities. As is characteristic in the crypto ecosystem, staking mechanisms have a unique ability to achieve price stability. It also attracts more investors, fostering the project’s long-term growth and sustainability.
As a testament to this project’s enormous profit potential, a crypto whale recently plunged $1 million into the project. This whale executed five transactions within six minutes, securing WSM tokens amounting to 460 ETH. This was worth approximately $840,000. This was not the first investment from this whale, as they had a previous 93 ETH injection into WSM a fortnight prior. This points to the colossal confidence that they hold for Wall Street Memes.
With barely three weeks to end the presale, now is the time to act for early entrant prices of $0.0337. Do not miss out for any reason.
Also Read:
- How to Buy Wall Street Memes – WSM Token Presale
- Wall Street Memes Price Prediction – $WSM Price Potential in 2023
- Crypto News YouTube Channel Reviews The Wall Street Memes Token Presale
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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