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Cryptocurrency market tokens may be slowing down their previous gains, yet some, including Pepe (PEPE), a rival to the popular meme token Dogecoin (DOGE), appear to be gearing up for an uptrend.
Expectations of a Rise in PEPE
According to data shared by cryptocurrency expert Ali Martinez in a tweet, Pepe seems to be preparing for a major upward move. In this case, it could surpass the first significant resistance level of $0.00000166, and then, according to Martinez’s data, the next step could be $0.00000274.
The analyst’s latest expectations came shortly after highlighting signs on February 10 that Pepe was forming the right shoulder of a head-and-shoulders pattern in the 3-day chart with the TD Sequential indicator flashing. Moreover, the TD Sequential, generally indicating potential trend reversals and continuation chart patterns, showed a very positive signal for Pepe, suggesting it could trigger an uptrend for the cryptocurrency.
Expert Opinion on PEPE
At the time of writing, Pepe was trading at $0.00000125, showing a 3.31% increase over the last 24 hours, a 0.8% increase over the past seven days, and a 21.15% increase on the monthly chart according to the latest data. Taking all this into account and if Ali Martinez’s predictions for Pepe materialize, it could indicate a massive 32.8% surge for the initial rise, followed by an even more impressive 119.2% increase from its price on February 23.
However, Pepe’s biggest rival, Dogecoin, could also be on the verge of an uptrend, having broken out of a descending triangle pattern and entered a consolidation phase since 2020, resulting in a 28,770% rise. Considering the bullish signals from both Dogecoin and Pepe, the crypto market might be entering a revived meme token frenzy season with major surges anticipated.
