Pepe Coin, a cryptocurrency in the market, has experienced a significant surge in trading volume, reaching an impressive $250 million within a span of just 24 hours.
This surge has resulted in a remarkable 38% increase in Pepe Coin’s (PEPE) value.
Notably, the price movement has been accompanied by a bullish engulfing candle pattern, successfully breaking through the resistance level at $0.00000138.
The sudden rise in trading volume raises intriguing questions about large investors’ involvement, often called “whales.”
It is worth exploring whether these whales are playing a role in driving the upward movement of Pepe Coin.
Let’s delve deeper into the analysis to uncover further insights.
Pepe Coin Skyrockets, Turning $263 into a Staggering $13 Million in 40 Days
The potential for significant gains in Pepe Coin (PEPE) has been demonstrated by an investor who turned a mere $263 investment into an astounding $13 million in just 40 days.
This remarkable multiplication of wealth was made possible by Pepe Coin, a meme coin inspired by the popular internet meme ‘Pepe the Frog’.
Since its launch in April, Pepe Coin has rapidly soared to a market capitalization exceeding one billion dollars, highlighting the immense transformative power that cryptocurrencies possess.
Pepe Coin Price Prediction
Pepe Coin is exhibiting a solid bullish trend on the technical front after rebounding from the support level around $0.000000830.
This rebound occurred while the coin was in the oversold zone, attracting market participants looking to capitalize on the opportunity to acquire the coin at a lower price.
A closer look at the daily timeframe reveals that Pepe Coin (PEPE) has not only completed a 38.2% Fibonacci retracement around the $0.000000124 level, but it has also surpassed this level, reaching the 50% Fibonacci retracement at $0.00000138.
Currently, Pepe Coin is heading towards the 61.8% Fibonacci retracement level, which is approximately at the 0.0000015 level.
A successful breakthrough above this level can potentially propel Pepe Coin toward its next resistance level at 0.00000192.
Leading technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), show strong buying signals, indicating a high probability of the bullish trend continuing.
Additionally, the 50-day moving average supports and further reinforces the likelihood of a bullish trend continuation.
Regarding downside protection, Pepe Coin’s immediate support will likely be around the $0.00000123 level.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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