The price of PEPE has shown significant fluctuations in recent days, especially when this memecoin achieved a 14% increase on July 3, bringing the price up to $0.00001. However, after this strong surge, PEPE has returned to a slightly lower level. Nevertheless, with the emergence of the Golden Cross pattern and a spike in trading volume, many investors and market experts are predicting that this coin will continue to break through in the near future.
PEPE surges 14%: Initial positive signs
On July 3, PEPE made an impressive breakout, soaring from $0.00000963 to a peak of $0.00001074 within 24 hours. After this strong surge, PEPE's price stabilized at $0.00001035, recording an additional increase of 7.24%.
This development shows a distinct technical shift as PEPE has not only surpassed the $0.00001 level but also marked an important transition from a 5-digit decimal price to a 4-digit decimal price. This is a positive signal, reflecting PEPE's gradual establishment in the market. At the same time, it also sets a new short-term support level at $0.00001.
One undeniable factor in this price surge is the trading volume. Throughout the breakout, over 13.7 trillion PEPE were traded in just one hour. This demonstrates strong participation from investors, indicating significant interest from the community. Notably, PEPE's increase becomes even more impressive compared to the overall crypto market, which only recorded a 5.92% increase during the same period.
Golden Cross pattern – Confirming a new uptrend?
One of the notable technical factors in PEPE's recent price increase is the emergence of the Golden Cross pattern on the chart. This pattern forms when the short-term moving average (MA) crosses above the long-term moving average (MA), often seen as a clear signal indicating the start of a price uptrend.
The emergence of the Golden Cross has created a strong positive sentiment in the market, driving trading volume to surge dramatically. Right after the initial price increase, a second wave of trading occurred, with 7.7 trillion PEPE exchanged in a short period. Such technical patterns not only attract the attention of algorithmic traders but also reinforce the confidence of short-term investors, thus creating momentum for PEPE's strong breakout in the coming days.
According to the current technical indicators, PEPE's next resistance level may be at $0.000011. However, analysts emphasize that to sustain its strong upward momentum, PEPE needs to maintain high trading volume. If the volume continues to be strong, this coin could easily surpass this resistance level and continue its upward trend. However, the support level of $0.00001 still needs to be protected to avoid a return to a downward trend.
PEPE leads, but can it maintain its position?
The meme coin market in general has witnessed some impressive growth recently, with many coins in this space recording significant increases. BONK, for instance, is one of the leading memecoins with a 10% increase, reaching $0.0000182 on July 3. Following that is Dogecoin, which increased by 5.83%, rising to $0.17. However, this token subsequently dropped to $0.16, showing the inherent volatility of the meme coin market. Shiba Inu also recorded a 3.55% increase but showed slight signs of decline afterward.
Meanwhile, PEPE is currently the only memecoin in this group that maintains a stable price, holding a value close to zero. However, this factor plays an important role in the meme coin space, as stability in value often generates strong attention from the community and investors. Investors will closely monitor PEPE's movements in the coming days to see if this coin can continue to maintain its growth momentum, especially as the price has been kept stable for a long period.
With positive technical signals and strong trading volume, many experts believe that PEPE is likely to maintain its upward momentum in the near future. Although PEPE's value still faces some challenges, factors such as the Golden Cross pattern, significant community participation, and high trading volume have laid a solid foundation for this coin's sustainable development.
With growing interest from investors, PEPE may become one of the important tokens to watch in the current meme coin cycle. However, investors need to be aware that the market is still volatile, and to achieve long-term profits, closely monitoring technical signals as well as changes in trading volume is essential.