Crypto Analysts Agree: Pepe Coin Price Will Blast to ATH Soon

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As a seasoned crypto analyst with over a decade of experience in this wild and ever-evolving digital frontier, I find myself intrigued by the bullish outlook for Pepe Coin. My life as a trader has been a rollercoaster ride filled with unexpected twists and turns, but the allure of the cryptosphere continues to draw me in.

The current price of Pepe Coin is still within a downtrend, having dropped by approximately 23.3% from its highest point this year. However, cryptocurrency analysts are optimistic that the well-known meme coin will recover swiftly and surpass its previous all-time high in the short term.

Crypto Analysts See Pepe Coin Price Hitting New ATH 

Many experts in cryptocurrency analysis predict that it’s only a question of when, not if, the value of Pepe will surge by around 31% and reach its maximum historic price, given the ongoing bullish trend in the crypto market.

Trader Bluntz, known for his expertise in cryptocurrency trading, employs Elliot Wave analysis on a four-hour chart to foresee an imminent bullish surge in the coin’s price. He is convinced that the coin has progressed into what resembles an ABC pattern and a symmetrical triangle, which appears close to its merging point. Typically, this configuration signals a powerful bullish breakout in most market situations.

As a fellow cryptocurrency enthusiast, I’ve come across insights echoed by analysts such as Dami-DeFi, who boasts a substantial following of over 76,000 people, and Trader ELM. Their perspectives align with mine in many aspects, lending credence to the validity of our collective viewpoints within the crypto sphere.

Essentially, traders often observe that Pepe is amongst the most well-liked meme coins within the industry and has a genuine potential to outperform Shiba Inu. The data indicates that Pepe typically exhibits greater trading activity, suggesting increased interest from investors. For instance, in a 24-hour period, Pepe recorded a volume of $5.4 billion, while Shiba Inu’s was only $1.9 billion.

Additionally, it appears that a large investor is stockpiling the cryptocurrency. According to data from Etherscan, a significant investor purchased Pepe coins valued at more than $65 million on Wednesday.

Pepe Price Has Strong Technicals

On November 13, the daily graph indicates that the Pepe coin’s price surpassed a significant barrier at $0.00001721. This barrier was important because it represented the highest point it had reached on March 27 and its previous record high.

Primarily, what we’re focusing on here is the top part of a cup and handle formation, which is a commonly recognized indicator suggesting a potential continuation in the market trend.

The coin has retreated slightly from its record peak of $0.00002595 due to a brief pause in recovery and some investors cashing out. It continues to stay above both the 50-day and 200-day average lines, creating a golden cross pattern in September.

It appears that the price of Pepe Coin might be shaping up as a Doji candlestick, known for its small body and extended upper and lower wicks. Typically, this pattern is considered quite precise when it comes to signaling potential price reversals.

It’s quite plausible that the value of Pepe could recover and potentially reach its previous peak of $0.000025 again. If it surpasses this level, it might suggest further growth towards $0.000030.

Conversely, if the price falls beneath $0.000017 (which is considered support), it would contradict the bullish outlook. Instead, it could increase the likelihood of a reversal to the mean, with sellers aiming for the 50-day moving average around $0.000012.

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2024-11-20 15:14