- PEPE trades at $0.00002112, over the last 24 hours.
- The meme coin’s daily trading volume has surged by over 37%.
In the last 24 hours, the global crypto market cap has gained 2.40%, surpassing $3.40 trillion. Bitcoin’s upward rally primarily drives this current bullish trend. It propelled the altcoins to surge—the beginning of the alt-season.
Amid the rise of Altseason, the meme coins have rallied with moderate price breakouts. Major meme coins such as DOGE and SHIB have recorded moderate upward movements.
At press time, PEPE gained 6.60% over the day, trading at $0.00002112. The meme coin opened the trading day at $0.00002004 and visited the lowest and highest price levels at $0.00001953 and $0.00002128, respectively.
Besides, the market has observed a $1.60 million PEPE liquidation during this timeframe. Consequently, the meme coin’s daily trading volume has reached $3.05 billion.
As November is closing, the frog-themed meme coin, PEPE, has secured 120% over the past thirty days. The asset’s lowest price was marked at $0.000007955 and the highest at $0.00002484.
On the other side, as per analyst analysis, PEPE’s price has been consolidating, showing no clear direction. However, a bull flag pattern is emerging. The Fibonacci retracement indicates strong support at the 0.618 level, suggesting a target price of 1.618.
Can PEPE Sustain Its Current Pace?
The technical analysis of PEPE reports moderate bullish sentiment in the market. The moving Average Convergence Divergence (MACD) line is laid over the signal line. If the momentum gains strength, an incoming bull run is expected.
It’s crucial to note the Chaikin Money Flow (CMF) indicator at 0.08, suggesting a positive money flow subsequently might lead to an increased demand. Meanwhile, the meme coin’s daily trading volume has surged by over 37.70%.
PEPE’s four-hour price chart signals the further possibility of an upside correction. The current positive pace could likely push the meme coin to ascend to new highs, above the current price. The meme coin could test the nearby resistance at $0.00002168. Further gains might lead PEPE to cross this mark.
In contrast, if PEPE’s ongoing momentum collapses, a potential downside momentum emerges, and that might immediately pull back the price to a low of $0.000020 level.
Moreover, the current market sentiment of PEPE is in neutral territory, with the daily relative strength index (RSI) sitting at 63.43. Besides, the daily frame of the meme coin displays the short-term 9-day moving average above the long-term 21-day moving average.
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