Pepe Price Prediction: PEPE is expected to break out of the descending wedge pattern, with a potential rise of 135%. Is this the most worthwhile meme coin to buy?
After soaring over 12% in the past 7 days, the recent breakthrough favors a bullish price prediction for Pepe, potentially bringing a 135% increase in the short term.
Although other meme coins have also achieved similar gains during this period, PEPE's performance has outperformed the top 5 in this category, indicating that bullish momentum is accelerating.
Trading volume has rebounded again, doubling from a recent low of about $400 million to $1 billion as of yesterday. This significant increase indicates that PEPE has entered a key price range.
In just the past three days, the trading volume of the token has exceeded $2.8 billion. Similarly, the activity in the futures market indicates that traders are betting on PEPE again.
According to CoinGlass, as of the time of writing, the open interest for PEPE futures has increased from a recent low of $569 million to $658 million. Although the open interest is still 35% lower than the recent peak of $1 billion, this is an early sign of a bullish price prediction for PEPE.
Meanwhile, Ethereum (ETH) has recently broken through $4,000. Since Pepe is a meme coin based on Ethereum, its performance will be influenced by the trends of top altcoins.
Pepe Price Prediction: After the breakout, PEPE may rise to $0.00002800.
The 12-hour chart shows that Pepe has recently broken through a descending wedge. This technical pattern usually indicates a significant price increase following a confirmed breakout.
Breaking through $0.00001500 will confirm the bullish Pepe price prediction, with the token potentially achieving over 100% returns in the short term.
The Relative Strength Index (RSI) supports this positive outlook, as it has climbed above the midpoint to reach 59, indicating that the upward trend has gained significant strength.
PEPE's first target price level is $0.00002500. If this level is broken, it will confirm a rebound to $0.00002800 after a brief retest.
In summary, Pepe's strong momentum and breakout pattern make it one of the most noteworthy meme coins to watch in the short term. With a surge in trading volume and increasing bullish signals, PEPE may continue to rise in the coming weeks, and if it breaks through key resistance levels, the gains could be further amplified.
