PEPE Coin has once again achieved double-digit gains with an interesting story on the Binance exchange this year. The altcoin gained significant volume with its listing on top-tier crypto exchanges during the market fluctuations in mid-2021 and reached its peak. But what can be expected from it going forward?
PEPE Coin managed to survive as a popular meme coin after the pressure it faced from the treasury. At the time of writing, BTC had surpassed $44,000, and market expectations were high as investors focused more on BTC. Bear markets usually start with a precursor movement from Bitcoin and then followed by a rise in altcoins.
Along with several other altcoins that distinguished themselves in positive ways, PEPE Coin achieved double-digit gains. The price reached a five-month high after breaking a long-standing resistance zone. Despite a downward trend, the price confirmed $0.0000019 as a resistance level after dropping to $0.00000082 in June 2023.
Analyst Crypto_McKenna noted that the price broke its resistance and turned upward after forming a double bottom pattern at $0.00000061 in September and October, and it could test $0.00000220 today. However, analyst DrCryptoPlague stated that it is still early for FOMO despite the recent price increase and that the trend line needs to be broken and tested.
On the 6-hour chart, a strong resistance zone at $0.00000147 can be seen with significant volume. This is considered a positive development as the price has surpassed $0.0000016 at the time of writing. Daily gains are supported by the increase in BTC price, which is above 22%. If BTC can stay above $43,000, PEPE Coin’s speculative rally will continue.
If this upward trend continues, the nearest target is the strong resistance area at $0.00000190, which is a significant level in July. If this level is breached, bulls can embark on a new all-time high journey. On the contrary, rapid sell-offs could push the price down to $0.00000102.