While the leading cryptocurrency Bitcoin (BTC) struggles at $30,000, it can be said that a significant portion of investors are actually focused on meme tokens instead of BTC. One of these tokens, which gained a record rise during the market’s bloodshed in the past months, is Pepecoin (PEPE). Now, it seems that PEPE is about to break its silence with a significant rise.
PEPE Price is Expected to Rise
Due to the correction in the past weeks, the PEPE price lost 24.5% of its value and dropped to the support level between $0.0000019 and $0.00000143. However, PEPE is preparing to experience some activity due to the positive trend seen in the entire cryptocurrency sector. Especially with the current trend, December could push PEPE to a higher level.
The correction phase of Pepecoin above the 50% Fibonacci retracement level actually indicates that the general trend is positive. Currently, breaking and disrupting the trend focuses on creating a buying opportunity for a 25% increase and signals this. The 24-hour volume for PEPE is also at a significant level of $114 million, indicating a 56% increase.
Critical Level for PEPE
In this context, PEPE seems to be at the door of a new rally. The 4-hour chart shows that PEPE is testing the resistance it previously broke, and breaking this level can provide certainty for a new rally. PEPE must stay above the $0.00000139 level in this context. The 200 EMA also clearly indicates this and a positive trend is forming for PEPE.
Although PEPE has lost strength recently due to PEPE 2.0, it may have some tricks to show in the long run, just like the relationship between DOGE and SHIB. As of now, PEPE is trading at $0.00000151, and its next target will be $0.00000180. The overall trend and performance of the cryptocurrency sector also hold great importance for PEPE, and the situation can be expected to change accordingly.
In a live broadcast, renowned analyst Altcoin Sherpa mentioned that PEPE is a cryptocurrency that rarely rises but progresses by breaking records, confirming the expectations.
