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Price of $PEPE : Analyst predicts a 400% increase to $0.0001

PEPE, the meme coin, has been in a constant decline since the beginning of the year, but has maintained a key support level for several weeks. A cryptocurrency analyst on TradingView suggests that if PEPE manages to surpass this support, it could see a 400% increase, potentially reaching $0.0001. After a tough week for the cryptocurrency market, PEPE continued its downward trend, hitting its lowest price in months.

According to technical analysis, the possible rebound of PEPE depends on it staying above the support level of $0.00000650. This level has been crucial given PEPE's continued decline since January. The analyst notes that this drop reflects PEPE's behavior in early 2024, with the December 2024 high of $0.00002803 marking a significant turning point that triggered the drop.

In the last 24 hours, PEPE has managed to surpass this support level and has reached $0.000007. The analyst emphasizes that PEPE's reaction to the resistance zone between $0.00001150 and $0.00001200 will be crucial in determining the next rally. If PEPE surpasses $0.00001200, it could trigger a bullish momentum, leading to resistance levels of $0.00001700 to $0.00002200. A breakthrough above $0.00002200 could push PEPE beyond its all-time high of $0.00002803.

The analyst predicts a potential price of $0.0001 if positive momentum continues. However, if PEPE fails to close above $0.00001200, it could extend its decline and retest lower support levels around $0.00000650 to $0.00000550.

Currently, PEPE is trading at $0.000007239, up 4.4% in the last 24 hours. Its future growth will largely depend on the overall market conditions, especially the movements of Bitcoin and other major cryptocurrencies.$PEPE