Over the past 24 hours, the Pepe price has seen a significant 11.51% surge, coinciding with growth observed among meme coins, up an average of 6.67%. Notably, PEPE has garnered particular interest in anticipation of a breakout.
Today’s gains have made significant ground in PEPE’s recovery, now standing at a 13.25% loss since last Friday – a decline suffered by most other notable cryptocurrencies.
The likes of which have placed PEPE at a loss over the past month, down 5.43%, erasing much of the progress it has made in recent weeks.
Indeed, trader interest in Pepe appears to be at a high as it makes significant headway. The meme coin’s trading volume is up 15.81% to $1.13 billion over the past 24 hours.
PEPE Chart Points Bullish – 50% surge coming?
In an August 7th X post, prominent trader and AltCryptoTalk founder Sjull highlighted a bullish pattern forming on the PEPE chart.
Sjull noted that the PEPE price seemed to be following a pattern similar to that observed in April 2024. During that time, PEPE experienced a massive rally taking it to a new all-time high promptly after breaking out of a consolidation zone following a price decline.
Notably, A similar kind of consolidation has been observed in PEPE’s chart after the recent decline. He noted that we may see a similar kind of rally once this consolidation area breaks.
A look at the PEPE chart reveals this to be credible.
PEPE price chart on 1D time frame. Source: TradingView.PEPE faced a crucial resistance level at $0.0000084, near the 200EMA (blue) on a daily time frame. Additionally, it has been consolidating within a tight range for four consecutive days, between the $0.0000069 and $0.00000822 levels.
Significantly, PEPE has recently overcome these obstacles over the past few hours. It has broken out of both its consolidation and resistance with a decisive jolt to $0.0000086.
A closer look at the PEPE chart points to further growth.
PEPE price chart on 1H time frame. Source: TradingView.Most notably, the 200EMA appears to be stabilizing, moving away from the firm downtrend it has displayed since the start of August. This points to a potential transition phase, laying the foundation for a trend reversal in PEPE’s next leg up.
A prospect made more credible by the 20EMA, which appears to be converging with the 200EMA in its uptrend. A decisive crossover would provide a clear indication of a shift toward an uptrend.
Notably, PEPE’s relative strength index remains consistent, sitting comfortably within bullish territory at 55. Although neutral, this stance errs on bullishness, setting the stage for a potential rally.
Therefore, there is a high chance that the PEPE price could soar 50% to the $0.0000126 level or even higher in the coming days.
Traders Are Looking To A New PEPE Coin
Although traders may want to cling to PEPE for further gains, the meme coin landscape has evolved. The best opportunities now leverage real utility alongside a strong community.
As the leading hype-based coins reach multi-billion dollar market caps, their biggest gains are behind them, and traders are diversifying into the next memecoin set for explosive growth.
Enter Pepe Unchained ($PEPU), a meme coin that transcends conventional utility. It addresses two of the most significant pain points in the current crypto landscape – transaction speeds and fees.
This liberated evolution of Pepe operates on its own Layer 2 chain, freeing itself from Ethereum’s shackles, offering lower fees and 100x faster transaction speeds.
It’s not just a meme coin, it’s a meme chain! Something that may be credited to its instant success, raising over $7.5 million in its presale so far.
This confidence can also be attributed to Pepe Unchained’s commitment to transparency. It has undergone two audits and features its own block explorer, allowing users to track all transactions on its unique chain.
At a temporary fixed presale price of $0.0089461, those who act quickly stand to benefit the most. Investors are currently earning an impressive 248% APY. This presents a valuable passive income opportunity, even amidst recent market volatility.
Join the Pepe Unchained community on X and Telegram to stay up to date on the latest announcements.
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The post PEPE Price Set for 50% Surge? Key Breakout Levels to Monitor appeared first on Cryptonews.
