Pepe Price Prediction: PEPE Pumps 15% As Whales Power This PEPE 2.0 ICO Towards $16 Million
The Pepe price surged 15% in the last 24 hours to trade at $0.00001145 as of 10:48 a.m. EST on trading volume that soared 35% to $2.7 billion.
Over the last week, Pepe has surged more than 20% as hopes of a new altcoin season grow. Other top meme coins like Dogecoin and Shiba Inu are also enjoying strong gains, so what lies ahead for PEPE?
Pepe Price Aims For A Continued Rally
The recent Pepe price movements have formed a rounding bottom pattern, as the price plunged from the $0.00000954 resistance to the $0.00000643 support, according to data from GeckoTerminal .
The support then allowed the price to soar back to the resistance and a follow-through thereafter.
PEPE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a confirmation of the continued pressure from the bulls.
Moreover, the Relative Strength Index (RSI) seems to be crossing over the 70-overbought region, currently at 77, which is also an indication that the asset is under intense buying pressure and may be overvalued at this level.
The bullish stance is also confirmed by the Moving Average Convergence Divergence (MACD), which has already crossed above the neutral line as it soars above, showing that PEPE is currently on positive momentum.
If the positive trajectory of the Pepe price continues, the bulls may push the price even further above, as they currently target $0.0000150.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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