Key Insights:
- The PEPE coin price prediction suggests that the meme coin has the potential to soar 50% due to its bullish price action.
- PEPE witnessed a 130% surge in trading volume within 24 hours, suggesting growing interest and increased market activity.
After a prolonged bearish trend, Pepe Coin has finally broken out, opening the path for a massive upside rally.
According to the daily chart, the popular meme coin was previously moving within a bearish price action pattern, which ended after PEPE formed a Morning Star candlestick pattern, followed by a bullish confirmation.
Current Market Sentiment and Price Momentum
Given the current market sentiment, the PEPE coin price prediction appears to be a key topic in determining the meme coin’s upcoming move.
At press time, PEPE coin was trading near $0.0000096 and had recorded a price surge of over 2.5% in the past 24 hours. During this period, trader and investor participation skyrocketed, likely driven by PEPE’s bullish outlook, resulting in a 130% surge in trading volume.
This surge in trading volume, along with the price increase, demonstrates strong upside momentum in the meme coin and indicates growing investor confidence and potential for further gains in the near term.
Meanwhile, this growing confidence and interest have also surfaced on X (formerly Twitter), as experts and analysts have been making bold PEPE coin price predictions.
Recently, a crypto expert shared a post on X, noting that the PEPE meme coin appears incredibly optimistic and further added that the next leg higher in the meme coin’s price is about to begin.
Meanwhile, another expert appears to be making a bold PEPE coin price prediction. In a recent post, the expert noted that PEPE’s price could soar by a solid 1,300% in the coming days.
Apart from this, several bold predictions and bullish outlooks from experts and analysts have been shared over the past 24 hours, suggesting strong interest in the token.
PEPE Price Action and Key Technical Levels
Besides this, expert technical analysis suggests that the PEPE coin price prediction may be turning bearish or could remain sideways.
The daily chart reveals that the meme coin recently broke out of a falling wedge pattern and now appears to be retesting the local support area around the $0.000010 level.
However, the price has fallen below that level and seems to be struggling to sustain itself, which flashes a red signal for meme coin holders and traders.
Based on recent price action and historical patterns, if the meme coin holds above the $0.000010 level, the PEPE coin price prediction suggests a potential 50% rally could be possible.
On the other hand, if it fails and the price falls below the support level, a period of consolidation or a price decline could occur, as indicated by the PEPE coin price prediction.
Technical Analysis: 50 EMA and RSI Insights
At press time, the asset was trading below the 50-day Exponential Moving Average (EMA) on the daily time frame. This indicated a prevailing bearish trend and suggested that sellers were in control of the market momentum.
Whereas, the Relative Strength Index (RSI) stood at 44, indicating that the asset was in a neutral zone but was leaning towards the oversold territory. This signalled a potential buying opportunity if bullish momentum builds up.
When combining this analysis with increased investor and trader participation, along with rising trading volume, it appears that PEPE is turning bullish. The bulls seem to be back and are pushing the meme coin’s price to continue its ongoing upside momentum.