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Highlights
- The new all-time high of $0.000013 is majorly bolstered by the validation of an inverse head and shoulders pattern.
- Whales and retail investors run to meme coins like PEPE as Bitcoin moves within a tight range.
- Pepe’s 11% surge in 24 hours elevates it into the top most traded cryptos.
Pepe Coin price exploded to a new all-time high of $0.00001146 during the early hours of Tuesday, backed by positive market sentiment. With Bitcoin price stuck in a narrow range without direction, Pepe stands out as an alternative investment for short-term gains.
As discussed earlier, Shiba Inu price analysis revealed that meme coins may continue to get more attention, especially from traders searching for alternative assets to avoid the sluggish overall price action in the market. Pepe Coin price prediction, for instance, portrays the potential to uphold the uptrend targeting a new record high.
What’s Next As PEPE Surges In Double-Digits
Pepe Coin stands out as one of the trending cryptocurrencies on CoinMarketCap on Monday. Its value increased by more than 11% in 24 hours to trade at $0.0000972 during US business hours.
The uptick in price was accompanied by a notable increase in the trading volume by 142% to $1.06 billion, propelling PEPE into the top ten most traded coins.
A subsequent surge in the overall market value by 10% to $4.08 billion reinforced the tight bullish grip. This analysis seeks to assess PEPE’s technical and fundamental structure amid the hope for a breakout to $0.000013 in May.
Altcoins, especially those known for being highly volatile are likely to stage price movements during this time as Bitcoin consolidates. While such movements could be limited within key ranges, they indicate the potential for increased value growth in the coming weeks.
Pepe Coin Price Prediction: How To Navigate PEPE’s Volatility
Therefore, the ongoing surge in Pepe Coin has the potential to reach the highest level in Q1 of $0.00001083. Note that the frog-themed token holds above several key levels, starting with the 200-day Exponential Moving Average (EMA) at $0.000004437, the 50-day EMA at $0.0000072 and the 20-day EMA at $0.00000801. Sitting above bull market indicators as observed signals the potential to uphold the uptrend.
Indicators like the Relatively Strength Index (RSI) back the bullish technical thesis. Should the RSI enter the overbought region from its current level at 69, buy orders will surge, creating a strong tailwind to support the rally to $0.000013—a new all-time high.
The validation of an inverse head and shoulders pattern means that PEPE could potentially extend the breakout from $0.00000972 to $0.000013—a 50% target from the neckline.
Other important technical indicators like the Moving Average Convergence Divergence (MACD) add credence to the bullish theory. A buy signal reinforces the grip on the price.
In case Pepe Coin price corrects to collect more liquidity, traders can eye new entries after the price bounces from the inverse head and shoulders pattern’s neckline.
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