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- PEPE surged 45% in 24 hours, hinting at a bullish breakout as trading volume nears the top spot.
- Technical analysis forecasts a 20% price jump for PEPE if key resistance breaks.
- Daily active PEPE addresses soar by 85%, signaling growing investor engagement and optimism.
Pepe (PEPE) has become one of the best performers among meme coins, attracting interest from cryptocurrency lovers and traders. The considerable price leap of PEPE has drawn the attention of experts and analysts who are monitoring it as it battles its way through the highly volatile crypto market.
$PEPE is almost #1 by 24h volume. pic.twitter.com/ahIcdXU4fs— Plazma (@Plazma0x) February 26, 2024
Noteworthy, the optimism about the currency’s potential is echoed by influential figures within the crypto-trading community. Concurrently, the optimism surrounding PEPE has pushed its trading volume to nearly the highest in the last 24 hours.
Moreover, bullish momentum has had the upper hand in the PEPE market, with the price surging from an intra-day low of $0.000001348 to a high of $0.000002278 before facing resistance. At press time, PEPE was trading at $0.000002031, a 45% surge in the last 24 hours and 69% in the last week.
PEPE/USD 24-hour price chart (source: CoinStats)
PEPE Market Gets Excited
Johnny, a cryptocurrency trader named @CryptoGodJohn, predicted a big move up for PEPE. His analysis indicates that the meme coin is on the edge of a massive rally that might make it breach all-time highs. Johnny’s strategy is to bag in more PEPE during the short-term setbacks that signify a firm conviction toward its long-term value.
$PEPE preparing for a massive run to new ATH's soonWill be looking to scale into position on a pullback pic.twitter.com/KK4rzJtDNq— Johnny (@CryptoGodJohn) February 26, 2024
Also, Max, another significant player in the crypto trading world, has voiced his optimism towards the prospects of PEPE. Max has communicated to his followers on his social media channel that PEPE can become the most sought-after asset in the current cycle, and they should get it before it’s too late.
Indicators Signal Strength
The bullish outlook is supported by a technical analysis that suggests PEPE is testing a prominent resistance zone. If this resistance is broken, the coin might gain 20%, reaching the levels last seen in the middle of July.
Furthermore, on-chain metrics provide further proof of the optimistic scenario. A significant surge in daily active addresses by over 85% represents heightened interest and participation in the PEPE network. In addition, if the network realized profit/loss increases, it means that holders are seeing actual gains, which adds to the positive sentiment around the coin.
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