PEPE is about to make a comeback! Traders bet on support levels, with a potential 55% surge in the future!
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PEPE (Pepe Coin) has recently found a key support level after experiencing a significant decline, attracting the attention of many traders. On-chain data shows that over $14 million worth of PEPE tokens have flowed out of exchanges, which may indicate that PEPE has accumulated buying pressure, laying the foundation for a future rebound.
According to Coinglass data, PEPE's support level has successfully been retested at $0.00000905, and day traders are optimistic about PEPE, especially with over-leveraged long positions of $1.9 million. Technical analysis also indicates that if PEPE can stabilize above the support level, it may see a 55% increase in the future, potentially reaching up to $0.00001625.
However, despite this, market uncertainties, particularly the tensions between the US and other economies, may still limit PEPE's further rise. PEPE is currently trading at $0.00001028, and although it has risen over 4.5% in the last 24 hours, trading volume has decreased, reflecting cautious sentiment among investors.
Behind this rebound, whether PEPE can break through barriers and welcome a true rise still needs to be observed.
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