PEPE is making a comeback, with its price rallying from its recent bottom following a massive $1 billion volume inflow.
In this article, we explore the latest PEPE price trends to better understand where prices may be heading next.
According to CoinCodex data, PEPE is currently the #28 cryptocurrency and the #3 meme coin and is up +1.6% week-on-week amid substantial inflows of $1,628,670,111 in 24-hour trading volume.
PEPE Price Analysis: Will PEPE Crypto Fall Victim To Rising Wedge?
As PEPE price remains in a rising wedge pattern, PEPE is currently trading at a market price of $0.0000176 (representing a 24-hour change of -1.4%).
This comes after yesterday’s inflow of more than $1Bn in trading volume, which saw price action surge to the upside in an attempted break above local resistance at $0.00001942.
Yet, meeting resistance swiftly—with a lower daily high —could spark some concern amongst holders, with fears that the PEPE price is forming a bearish rising wedge pattern.
The rising wedge appears bearish due to the narrowing of the trendlines, which spotlights weakening bullish momentum despite the sustained consolidation and attempts at higher highs over the past week.
All eyes are now on the descendant 20DMA (sat at $0.00002020) to see whether its arrival at the current consolidation zone will force a downside reversal or enable PEPE bulls to reclaim crucial moving average support.
Contrary to the worrying technical pattern, a slither of hope emerges in the RSI, which has managed to cool off to bullish divergence amid the consolidation move – now reading at 48 – this could soon suggest an upside breakout is on the cards.
Overall, given the ongoing consolidation range, short-time price action appears rather predictable, especially as a potential display of HTF double-bottomed support reinforces the idea of an upside move in a continuation of the current range.
This leaves PEPE with an upside target at $0.000019 (a potential +7.85%) and a downside risk at $0.00001728 (a possible -2.37%), and a consequent short-time frame risk: reward of 3.31 – a likely good swing trade.
Wolf of Wall Street Crypto Rocks PEPE Market With Viral Presale
But while PEPE’s growth from here is limited by its huge market capitalization, a new PEPE coin is shaking up the space with Jordan Belfort’s stylistic flair – and retail investors are entering a frenzy to stack the new project ahead of its highly anticipated launch.
Wall Street Pepe ($WEPE) exploded onto the scene this December with an astronomical presale skyrocketing out of the bull market to hit a present $38.23M raised in just weeks.
With $40M firmly in the presales crosshairs, many are labeling it the next Pepe Unchained, which raised more than $75M in presale across Q3/Q4 and blasted off at DEX launch with a near-instant 300% gain in the market.
Analysts believe Wall Street Pepe could smash this performance, having already rapidly amassed more than half the funds raised by Pepe Unchained – in just 10% of the time.
This spotlights the huge market appetite for the Wolf of Wall Street Pepe.
It’s easy to see why when you discover that the $WEPE token is your exclusive ticket to join a community call group intent on smacking back at the manipulation of insider whale groups through the power of grassroots mass action – just like the legendary Wall Street Bets.
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