Pepe Coin Price Prediction: What is the Next Target of the Current Recovery Trend?
Pepe Coin Price Forecast: On October 23, a wave of buying pressure lifted the crypto market and catapulted the largest cryptocurrency Bitcoin to $ 35,000, the highest level of the year. This increase revived the “Uptober” rhetoric and led to rises in major altcoins. Thus, the frog-themed memecoin PEPE broke the resistance level of $ 0.00000085, ending the consolidation phase that lasted for seven weeks.
Can the Price of PEPE Rise Beyond $ 0.000001?
PEPE price fluctuation above the daily EMAS (20, 50 and 100 October) can provide additional support.
a possible break above the $0.000001 barrier will intensify the buying pressure in the market
The 24-hour trading volume of Pepe coin is $ 281 Million, which means a loss of 30%.
On the daily time zone chart, the Pepe coin price trend has been almost vertical since its lowest level of $ 0.0000006 on October 19. The coin has risen to its current trading price of $0.000001, marking a tremendous increase of 64%.
This rally culminated with the formation of a bullish reversal pattern known as a "double dip", which was confirmed when the price broke the resistance of $ 0.00000085 on October 23. The next day, a slight pullback was seen, as the cryptocurrency re-tested the resistance that was broken as a new-found support.
This support level confirmed memecoin's expectations of a higher valuation and contributed to today's 11.8% increase. If the buying pressure continues, the PEPE price may target another resistance level at the $ 0.00000103 level, further strengthening the bullish trend.
A successful break above this could potentially extend the recovery rally to $0.00000144.
