- Crypto analyst predicts significant surge for meme coin PEPE.
- PEPE’s market capitalization reaches $600,113,020 after one-day increase.
- Falling wedge pattern suggests potential bullish momentum for PEPE.
A renowned crypto analyst, operating under the pseudonym KALEO, has predicted PEPE, the meme coin, suggesting that it is poised for another significant surge. In support of this forecast, the analyst has shared a meticulously analyzed 1-hour chart of PEPE, revealing the formation of two descending triangles. Notably, when the initial descending triangle pattern emerged, PEPE witnessed a remarkable ascent, establishing new higher highs. KALEO implies that a comparable sentiment may be observed shortly following the formation of the second descending triangle.
The trading range for PEPE is between its highest point of $0.000001537 and its lowest point of $0.00000149. Over seven days, PEPE has experienced a decline of 11.95% and is currently trading at $0.000001532. According to CoinMarketCap, PEPE’s market capitalization is now valued at $600,113,020, following a one-day increase of 1.02%. Additionally, the recent seven-day decline has placed PEPE within the red zone, indicating a negative trend for this meme coin.
Upon analyzing the 3-Hour PEPE/USDT chart, it becomes evident that the candlestick formations exhibited an inverted cup and handle pattern. This pattern subsequently resulted in a minor decline for the meme coin following its significant surge in overbought conditions. Nevertheless, PEPE swiftly rebounded from this setback and witnessed another substantial spike, propelling its value above the $0.00000180 threshold. This occurrence strongly suggests that the second major spike was likely triggered by the entry of buyers into the market.
Following the second significant surge, PEPE formed successive lower lows, leading to a decline in the value of meme coins. Nevertheless, it is worth noting that these lower lows indicated a falling wedge pattern.
Upon the completion of the falling wedge pattern, there is a potential for PEPE to exhibit a bullish momentum, leading to the formation of green candlesticks. Should this bullish sentiment persist, the meme coin can again surpass the $0.00000180 level.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
