- PEPE coin has been up over 12% in the last seven days and could break its recent ATH.
- PEPE’s bullish EMA setup could push the price past $0.00002500.
Pepe (PEPE) price has maintained bullish momentum and sustained gains beyond the key EMAs. The current EMA setup has signaled bullish momentum. At the same time, accumulation pressure on the PEPE coin could lead to a significant price increase in the coming sessions.
PEPE coin price has rebounded from the 20-day EMA mark. Trading at $0.00002169 at press time, the token noted a 3.50% increase in the past 24 hours. Its market cap rose to $9.16 Billion, and the total supply stood at 420.69 Trillion.
Notably, the PEPE crypto price was trading below 14% from the All-time-high level. It is eyeing to reclaim it shortly.
Whales Accumulation Fueled Bullish Optimism
A recent tweet from LookonChain revealed that a whale has withdrawn nearly $6.92 Million worth of PEPE from Binance. This hinted at the increased accumulation activity and could fuel a significant price surge in the coming days.
Data from IntotheBlock revealed that most on-chain metrics signaled a bullish outlook. Large transactions have surged over 3.81% in the last 24 hours. It represented that smart money had started accumulating in the PEPE coin.
The PEPE coin price was above 61.8% per the Fib retracement levels. Furthermore, the token hovered near the 78.6% zone, near $0.00002280.
Market Sentiment Soared Amid Growing Adoption Trends
PEPE appears to be preparing to make a breakthrough and advance to the next level. This indicator is a result of the token’s increasing number of wallets.
Looking at the Etherscan data, a new market appetite for the PEPE coin has emerged. That happened as the holder base grew to 334,000 wallets.
This has put the number of holders up. At the same time, the bulls argue that the increased number of holders is a good sign for PEPE as a meme coin. Retail and institutional investors are now paying attention to the asset.
Moreover, PEPE was included in Coinbase Prime service custody. Moreover, its listing on Coinbase and Robinhood has increased its recognition.
These listings add up to the liquidity of PEPE. Now, more investors can reach it while improving PEPE’s potential to attract more prospective buyers.
PEPE Price Prediction: Is All-time-high Breakout Imminent?
PEPE price prediction marked bullishness and signaled further growth ahead. A recent tweet by Alchemist highlighted that the PEPE coin price has bounced off from the key EMA support zone. The token could continue with the upward trend.
The reading of technical indicators guided a bullish view. PEPE’s Relative Strength Index (RSI) line was at 63. It indicated that PEPE was overbought at the time of writing.
Now, traders are keeping a close eye on momentum indicators for expansion. The On-Balance Volume(OBV) stayed bullish, representing accumulation from the traders.
Furthermore, the Open Interest (OI) has risen over 2.30% to $248.32 Million. That represented prolonged buildup activity in the past 24 hours.
The immediate support zones for the PEPE coin were $0.00002100 and $0.00002020. At the same time, the resistance levels were $0.00002300 and $0.00002500.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.