- The Pepe crypto price made a new all-time (ATH) of $0.00001156.
- An increase of 3.61% has been observed in the PEPE memecoin during the weekly trading session.
- The trading volume of Pepe has reached $802.3 Million in the last 24 hours.
Pepe (PEPE) is a deflationary memecoin created as a tribute to the Pepe the Frog internet meme. Launched on Ethereum, the project aims to establish itself as one of the most popular memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE). The PEPE crypto price, on the other hand, is doing great, as per recent data and analytics.
The Crypto whales have over 43% of the supply holdings of PEPE tokens. Recently, the price made a new all-time high mark. Let us see what’s ahead for the investors.
Can PEPE Price Continue to Surge, or is It Retesting?
According to the previous data, Pepe crypto has shown enormous growth since February 2024. The price recorded over 650% positive profitability till March 2024, which reflected the increasing interest of investors during that period. Consequently, April 2024 became a hot spot for initial profit bookings.
That resulted in a 24.49% drop in PEPE price value. Despite facing a correction phase, the crypto price managed to make a new all-time high in the current month. This reflects the memecoin mania of Pepe and the investors’ sentiments. At present, the PEPE crypto price is outperforming the Ethereum ecosystem cryptocurrencies.
Price Volatility & Social Dominance Analysis
The social buzz truly matters for the price growth of a memecoin, Pepe is no different in that matter. The rise in tweets about Pepe crypto at the end of Feb 2024 left a positive impact on price.
Conversely, the social dominance on social media platforms made a noticeable turn after April 15, resulting in the recent bullish rally. The social dominance currently covers 0.70% with less volatility in price.
Technical Analysis of the Pepe (PEPE/USD)
The short-term outlook lies above the key exponential moving average (EMA) on the bullish side. PEPE price is moving above the 50-day EMA, indicating an uptrend.
PEPE price has given a breakout from the $0.00001103 resistance level. The current price is restating the $0.00000896 decisional demand zone. The technical market speculations suggest a bullish outlook for the price at the current phase. However, a price correction is required before the upsurge.
The relative strength index (RSI) is downsloping while having a death crossover with the SMA line, indicating the increasing bearish strength. The RSI is moving at 57.18 below the SMA line.
Summary
The PEPE crypto has grown so much in the past few months. The memecoin is also competing with popular coins such as Shiba Inu (SHIB) and Dogecoin (DOGE). At present, the Pepe crypto price has given a breakout from a major resistance level and made a new all-time high price mark. It is retesting the previous key levels before making any bullish upsurge.
Technical Levels
When writing, the immediate resistance for PEPE was $0.00001156, while the $0.0000060 level was the next support. The price may rise if it makes past the upper resistance. Likewise, it may fall if the price drops below the mentioned support level.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.