Pepe Coin Rally Has Stalled: Implications for Investors
Why Pepe Price Has Stalled
Pepe Coin price has lost momentum for two main reasons. First, it is common for an asset’s price to pause after experiencing a strong surge. In this case, Pepe was up by 170% from its lowest point earlier this year, approximately $0.00000519 in February. The pause usually occurs as some investors take profits.
Second, Pepe has stalled, mirroring the performance of other large cryptocurrencies. Bitcoin, which usually sets the tone in the crypto industry, has stalled at $104,000. Similarly, Ethereum price has remained steady at $2,600.
On the positive side, analysts are optimistic that Bitcoin has more upside ahead, which could lead to increased demand for meme coins like Pepe. BlackRock has set a target of $700,000, while Cathie Wood believes Bitcoin will eventually jump to $1.2 million.
If these forecasts hold true, it could mean that Pepe Coin price may resume its bull run in the coming days.
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Pepe Coin Price Analysis
Despite the pause, Pepe remains among the most actively traded meme coins in the crypto market. Its 24-hour volume was $1.6 billion, surpassing Shiba Inu’s $441 million and Official Trump’s $1.27 billion. Its futures open interest has continued to rise, indicating strong demand.
The daily chart illustrates Pepe’s price movements, highlighting a double-bottom pattern formed at $0.00000577 in March this year and August last year. This pattern had a neckline at $0.00002838, its highest point in December last year.
Pepe has risen above the 50-day and 200-day moving averages, and the spread of the two lines is narrowing. This suggests that a golden cross pattern may soon form—a bullish technical pattern indicating a potential price increase.
Pepe Coin is likely forming a bullish pennant or flag pattern. It has already completed the formation of the flagpole pattern and is hovering at the 61.8% Fibonacci Retracement level.
Therefore, Pepe Coin price is likely to experience a strong bullish breakout, with the initial target at $0.000020, which is 45% above the current level. This price coincides with the 38.2% Fibonacci Retracement point. A move below the support at $0.000012 will invalidate the bullish outlook.
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