In this ongoing challenging market, where top cryptocurrencies like Bitcoin, Ethereum, Solana, and others are struggling to gain momentum, the popular crypto-meme token Pepe (PEPE) has gained massive attention from investors. Today, on April 22, 2024, PEPE, the world’s 4th biggest meme coin with a market cap of $2.75 billion, experienced a massive over 13% upside in momentum.
PEPE technical analysis and upcoming levels
However, this massive upside momentum in PEPE might give relief to its investors. This surge in price comes following the completion of Bitcoin halving, while other crypto meme coins including Dogecoin, Shiba Inu, and Dogwifhat continue to struggle.
The major reason behind this price surge is the breakout of the consolidation zone. According to expert technical analysis, PEPE on a daily time frame looks bullish, but it might face resistance near $0.000006. If PEPE on a daily time frame gives a candle closing above the resistance level, then in the coming days we may see massive upside momentum. Otherwise, PEPE will continue to struggle at the current level.
Additionally, one more thing that is attracting investors is its formation of a bullish flag and pole pattern. However, currently, the bullish confirmation is still pending until PEPE gives a breakout of this flag and pole pattern.
PEPE price-performance analysis
At the time of writing, PEPE is trading near $0.000006, and in the last 24 hours, it experienced a massive over 13% upside momentum. If we look at the performance of PEPE over a longer period, in the last 7 days, it experienced over 20% upside momentum. Whereas, in the last 30 days, due to the release of the United States CPI (Consumer Price Index) data and the geopolitical tension between Iran and Israel, it experienced nearly 10% downside momentum.
Besides the impressive price performance, the data from CoinMarketCap highlights that investors and traders are showing more interest in PEPE as the 24-hour trading volume has increased by 14% and it also reached nearly $1 billion. However, the overall cryptocurrency market is up by 1.5%, and the world’s biggest cryptocurrency Bitcoin experienced a 2% upside momentum, whereas Ethereum and Solana experienced a 1.5% and 3% upside momentum.
