PEPE Meme Coin Surges in Price – Eyes Set on Next Target at $0.0000080

Jakarta, Pintu News – Meme coins are again attracting speculative interest, leading to increased volatility in the crypto market as a whole. One of the most actively traded meme assets is Pepe (PEPE), which has recently experienced significant price movements and requires technical analysis to predict its next direction.

At the time of writing, the coin is trading at $0.056981 with a gain of 14.53% in the last 24 hours.

PEPE Returns to Strength after Consolidation Phase

Based on the daily chart from TradingView, PEPE managed to break out of its latest consolidation phase and broke back through the previous resistance area. This breakout has changed the short-term market structure to be more favorable for buyers and also boosted momentum above the previous supply area.

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Technical indicators such as the Relative Strength Index (RSI) have now reached overbought levels, while the MACD (Moving Average Convergence Divergence) indicator has turned into a strong bullish signal. Both indicators provide support for further upside potential and suggest that momentum is likely to continue.

As long as the coin price remains above the breakout zone, this technical structure is still valid. However, the possibility of re-consolidation should still be taken into account.

Analyst Insights Highlight Key Price Actions

A tweet from analyst Ali Charts supports this view, stating that the PEPE move was triggered by the continued development of momentum beyond the limits of the previous price structure.

This response is also in line with the view that buyers are reacting based on technical confirmation, rather than overall market fundamentals. Therefore, this rally is driven entirely by technical analysis and is highly dependent on key levels.

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It can be concluded that PEPE is showing clear signals of short-term strength, both in terms of technical indicators and trader sentiment. The sustainability of PEPE’s recent price movement will largely depend on its ability to maintain its newly recaptured price structure.

It is therefore important to monitor the next few trading sessions closely to ascertain whether this uptrend can continue. A consolidation phase at the current level could help to corroborate the validity of the breakout and provide a clearer picture for the next direction of movement.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• TronWeekly. PEPE Price Sees Strong Breakout With Upside Target Set at $0.0000080. Accessed on January 5, 2025