Pepe (PEPE) coin has defied recent downturns in the cryptocurrency market with a notable surge in price. Trading at $0.0000126, this meme coin has seen an impressive 8.02% increase over the past 24 hours. The surge is bolstered by a significant uptick in trading volume, which has risen by 27% to $1.7 billion, indicating a renewed wave of investor enthusiasm.
The surge in trading volume has pushed PEPE’s trading activity above that of Dogecoin (DOGE) and Shiba Inu (SHIB) combined, underscoring its growing popularity. Over the past week, meme coin stands out as the only meme coin among the top five to post gains, with a notable 10% increase. Analysts believe that sustained trading activity will help PEPE maintain its upward momentum, suggesting greater liquidity and investor engagement.
In a recent analysis, ZAYKCharts highlighted the bullish outlook for the PEPE/USDT pair, indicating a potential significant price movement. On the 4-hour timeframe chart, the analysis indicates that it has broken out of a descending channel, marked by two parallel trendlines sloping downwards. This breakout is often considered a bullish signal, suggesting a period of consolidation followed by upward movement.
The strength of this breakout is reinforced by a substantial green candlestick piercing through the resistance level, indicating strong buying pressure. The analyst’s chart features a green box marking the anticipated upward price target zone, projecting an increase of approximately 32.87%, potentially reaching $0.00001550 USDT from the breakout point of $0.00001272 USDT.
Technical Indicators Signal PEPE’s Bullish Potential
The technical indicators further support this optimistic outlook. The Relative Strength Index (RSI) is currently at 53, showing that the token has exited the bearish zone and sentiment has turned slightly bullish. This level suggests that the token is neither in overbought nor oversold territory, historically indicating a short-term rally.
Another critical factor is PEPE trading above its 200-day simple moving average and 200-day exponential moving average. This indicates that PEPE has managed to hold its higher price levels despite the recent crypto market downturn, showcasing its resilience and potential for further growth.
According to Coinlore’s price prediction PEPE could hit $0.0000135 in the next 10 days, reflecting short-term optimism. Looking further ahead, the long-term forecast for 2025 suggests a price of $0.0000322, indicating sustained growth potential for the meme coin. As PEPE continues to defy market trends, investor interest and trading activity remain robust, painting a positive picture for its future trajectory.
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