PEPE Memecoin's Buying Impact Unveiled – Key Hurdle Ahead!

PEPE Memecoin's Buying Impact Unveiled – Key Hurdle Ahead!

PEPE, a memecoin that has quickly risen to prominence over the last couple of months, is now experiencing a resurgence in bullish momentum. Despite a recent dip to its lowest levels in the past few weeks, the recent surge in bullish activity could prove to be a significant factor for the upward trend.

Notably, the value of PEPE memecoin recently reached its lowest point in 45 days at $0.000001, which has since transformed into a crucial support level. This support zone has played a pivotal role in invigorating the bullish sentiment. As a result, PEPE's price broke out of a bearish trend channel last night, accompanied by substantial trading volume.

source:Tradingview 


As of this moment, PEPE has caught attention by leading the daily gainers' list, marking an impressive 10% surge, with the present trading price hovering around $0.000001243. Within the last day, trading volume has notably spiked, surging by almost 200%, indicating a substantial influx of buying orders.

The utilization of trend-based fib retracement reveals an intriguing pattern for PEPE's token price. It's currently encountering a resistance point within the 0.236 zone (equivalent to $0.0000013), while conversely, the $0.0000010 level is emerging as a pivotal support zone. Should the bullish momentum extend above the $0.0000013 threshold, it could potentially pave the way for an upcoming bull run.

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Disclaimer:
This information is for educational purposes only and does not constitute investment advice. No person should rely on it to make any investment. Investing carries risks, including the loss of capital. All opinions expressed are subject to change without notice. Past performance is not indicative of future results. Always seek the advice of a licensed investment professional before making any investment.