Pepe Coin price is aiming for further gains after recently surpassing its all-time high price. Market participants have become more bullish on the frog-themed meme coin, especially after it recorded an 8-month high in its weekly trading volume. Can increasing volatility cause PEPE price to rise by 280%?
Pepe Coin Price Aims for 4X as Trading Volume Soars
Data from Coingecko shows that the PEPE Price is currently trading at $0.0000 in 2012 with a trading volume of over $5 billion. This represents an 11% decline in the last 24 hours, likely due to profits booked by traders and the rotation of cash into lower caps.
Despite this decline, Tradingview’s volume indicator shows that PEPE’s weekly volume has exceeded its 8-month high. The last time there was this much trading volume, the price of Pepe Coin soared over 1,000%.
This increase could probably be attributed to recent PEPE registration on Coinbase and Robinhood. These developments shine a spotlight on the meme coin, increasing its popularity among investors.
Onchain Analytics Company Feeling shows that PEPE’s trending social rankings remained in the top 10 on November 13, 14 and 15, which coincided with the skyrocketing prices during these three days.
The increased volume facilitated the recent breakout above a key consolidation structure, and PEPE price will be headed for a 280% upside.
Technical analysis: will the price of PEPE increase by 280%?
The 1-week PEPE price chart shows that the asset has been moving in a gigantic ascending channel since May 2023, which is bullish. On the 4-hour chart, Pepe Coin price action shows a hidden bullish divergence, which usually resolves to the upside.
This bullish bias is even more evident in the small 4-hour bullish pennant that forms during the same time frame. If PEPE price rises above the pennant, it could see a 91% surge, reaching $0.00004. Based on the weekly ascending channel, the next major resistance after $0.00004 is $0.00008468, or 283% of the current price.
Can Pepe Coin maintain momentum for a multiple push?
Pepe Coin price is heading for a 280% surge in the coming days as the crypto market surges. In addition, Tether company minted $2 billion over the last 24 hours and sent it to the stock exchanges, probably in preparation for the next upward move. This liquidity injection could increase the price of PEPE by over 270%, as the hype around Coinbase and Robinhood listings is still fresh.
Elon Musk also recently tweeted a post with Pepe the Frog, causing a slight increase in the price of PEPE as the community hijacked the moment to purchase the coin. He interacted with Pepe, and the character being the mascot of the PEPE community increased the cost of the meme coin.
Frequently Asked Questions (FAQ)
Pepe Coin’s price surge is fueled by its listing on Coinbase and Robinhood, increased trading volume, and strong social media attention.
Pepe Coin is trading in a bullish ascending channel, with technical analysis indicating a potential upside of 280%.
Elon Musk’s tweets featuring Pepe the Frog often spark interest in the meme coin, causing temporary price hikes as the community leverages the attention to promote PEPE.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the gaming industry. His extensive experience includes working with various startups to deliver insightful, high-quality analytics that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across various industries. Outside of his professional activities, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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