Pepe Price Up 12% in 24 Hours With Massive $1.2 Billion Volume – Can PEPE Reach $10 Per Coin?
Arslan Butt is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. He brings a broad range of skills to help beginners evaluate financial...
Pepe (PEPE) has recently gained significant traction in the crypto market, with its price surging by 12% over the past 24 hours. As of now, Pepe is trading at $0.000009, supported by a massive 24-hour trading volume of approximately $968 million.
Despite a slight dip of 0.64% recently, the current rally has catapulted Pepe to the #25 spot, boasting a market capitalization of $3.78 billion.
With a circulating supply of 420.69 trillion PEPE coins, this meme coin generates buzz among traders and investors alike.
On the 4-hour chart, Pepe is at a crucial technical crossroads, with the price navigating between two significant trendlines.
The downward trendline is currently capping gains around the $0.00000986 mark, making this a key resistance level.
On the other hand, the upward trendline offers robust support near the $0.00000814 level, providing a safety net against potential sell-offs.
The Relative Strength Index (RSI) has seen a slight decline but remains above 50, indicating that the bulls still have control over the market.
This suggests that while buying momentum may have cooled off slightly, the overall market sentiment is still positive.
Moreover, the 50-day Exponential Moving Average (EMA) is positioned just below the current price at $0.00000830, acting as a dynamic support level.
This EMA could play a crucial role in preventing further downside, offering traders a point of confidence.
Should Pepe’s price break below the $0.00000814 support level, the next major support zone to watch is around $0.00000751.
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