1. A look at the overall trend:
The overall trend has been upward, then there was a strong correction after reaching the peak at 0.00002838.
Currently, the price is at 0.00001311 and shows the beginning of recovery from the support area around 0.00000532.
2. Moving Averages:
MA7 (Yellow): 0.00001032 — the price is now above it, a positive signal.
MA25 (Purple): 0.00001233 — the price is also above it, which gives confirmation of a short-term rise.
MA99 (Blue): 0.00000763 — the price is much higher than this average, indicating that the overall trend is still positive in the long term.
3. Trading Volume:
There has been a noticeable increase in trading volume in recent weeks, which is a sign of new buying interest.
4. Resistances and Supports:
Nearest resistance: 0.00001753 then 0.00002364.
Nearest support: 0.00001143 then 0.00000532.
Can the price reach 1 dollar?
Honestly, this is unrealistic currently for the following reasons:
The very large supply: the total supply of PEPE currency exceeds 420 trillion. If the price reaches 1 dollar, the market cap would be more than 420 trillion dollars, which is several times larger than the total crypto market.
Inflation and distribution: the currency is designed for memes and pumping and not as a project with practical real-world use on a large scale yet.
Near-term expectation:
If the current momentum continues, we may see a rise to 0.000017 or even 0.00002.
But it is not advisable to hold long-term with the aim of reaching one dollar; rather, one should take advantage of upward movements to take profits.
#pepe