Within the week, the Pepe Price Up Rising Daily meme coin experienced an 80% mark-up. The indicators (i.e., moving averages) show the potential for a very bullish market. The meme coin (PEPE) is one of the six top cryptocurrencies with the highest trading volume.
A tribute to the web meme Pepe the Frog was the primary motivation behind creating the deflationary meme token called Pepe, which is currently available on the Ethereum platform. These include building on the foundations of meme currency popularity like Shiba Inu(SHIB) and Dogecoin(DOGE).
The latest development suggests that the PEPE price is performing well. The bull run has now been launched, and the movement is on a very promising trajectory. Memecoin and its investors face uncertainty, yet we shall see the situation soon.
There has been a recent surge in the price of PEPE crypto
From all over the globe, the memecoin has become the talk of the town since it was released in February 2024. As a result of February’s encouraging findings, the remaining investors, cruisers, and merchants who got together in March of 2024 joined in the activity. By making temporary differences in prices, they thus made Pepe Price Up Rising Daily currency move over by more than 210%.
However, the reverse was when the sellers in April 2024 stayed unchanged most of the time, bringing about the corrective process. During the corrective phase, the price was corrected for a few different main errors. Subsequently, the price experienced a bullish solid swing. As a result, this has exceeded 150% in the past month.
Price Volatility & Social Dominance Analysis
The worldwide social buzz about cryptocurrencies grew by roughly 2% until the end of February 2024. Meme coin prices exploded after that unexpected surge, which in turn excited fans all over the world. The PEPE meme coin has indeed been affected by societal attitudes that have changed significantly. Conversely, the buyer’s interest is rising along with the price and the social dominance, both at their zenith this session.
Technical Analysis of the Pepe (PEPE/USD) Price
Optimism is when the prices rise over the EMA linear regression indicator. The price displays a secure uptrend when introduced by moving through the 50-day exponential primary support index (EMA). Further, in situations where necessary, this EMA could offer price support. The Pepe Price Up Rising Daily breaks above the $0.00001103 resistance level. The level of $0.00001716 showed a bullish gain of over 54%.
Customers are rather intensely third-party bidding for prices that are taking over the universe now. In terms of technical indicators, the mention of the cost of memecoin strongly suggests a positive trend. Moreover, the RSI is reflecting positivity at the moment. This means buyers more confident in market pricing have the upper hand. Meanwhile, one of the indicators of the Relative Strength Index (RSI) is trading at 77.63, which is above the simple moving average (SMA) line.
Summary
The PEPE memecoin price has been constantly increasing since the middle of April 2024. This cryptocurrency has witnessed a spectacular gain of over 220% following the rise. The customers grew the price to the most significant level in history, showing that the bullish trend is powerful. The market technicals do not give grounds for delight, as they indicate the continuation of the uptrend for the coming trading days.
Technical Levels
$0.00001716 was the closest PEPE barrier, while the other support level was at $0.00000896. The bulls pushed the price beyond the upper resistance point and continued the uptrend. However, we may potentially experience a correction down to the lower levels of breaking below the support levels that have been mentioned getting underway.
Disclaimer
The article contains the views and opinions of the author and specific individuals concerned. They are not to be trusted as an investing, financial, or any other recommendation source. You may also lose money when investing and trading with cryptocurrency or stocks.
FAQs
What is the motivation behind creating the Pepe meme coin?
Pepe was created as a tribute to the popular internet meme "Pepe the Frog" and aims to build on the success of other meme coins like Dogecoin and Shiba Inu.
How has Pepe's price been performing in recent months?
After an initial correction in April 2024, Pepe's price saw a significant bullish swing, rising by over 220% and surpassing key resistance levels.
What do the technical indicators suggest about Pepe's future price?
Technical analysis, including the EMA and RSI indicators, show a positive trend for Pepe, with the price continuing to break through resistance levels.
What is the social impact on Pepe's price?
The rise in global social buzz and increased buyer interest has contributed to Pepe's dominance in the meme coin market, boosting both its price and social relevance.
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