After an Incredible 170% Rally, Pepe Price is Preparing for Another 200% Rally in the Next Few Days

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29 Feb 2024

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After an Incredible 170% Rally, Pepe Price is Preparing for Another 200% Rally in the Next Few Days

Author: Sahana Vibhute

Feb 29, 2024 11:39

Pepe’s price is rising. In times when a massive trend reversal was speculated, the PEPE price displayed an extremely diverse trend and became a billion-dollar asset. The memecoins were gaining significantly increased traction and market cap growth. Furthermore, the Bitcoin bull run has officially begun, and the current PEPE price rally indicates that memecoin has been the preferred option for traders to reinvest their profits.

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In such a scenario, Pepe does not appear to stop anytime now, as it seems to be self-assured of slashing a zero from its value with the next bullish move.
The memcoin Pepe has been among the top performers, along with tokens like BONK, DOGE, SHIB, etc. Now that the memecoin mania appears to have been re-installed, PEPE is expected to lead the rally with another 200% jump in the next few days.
The long-term price action suggests that Pepe may enter a price discovery phase any time from now, as it is just an inch away from its ATH at $0.000003537. However, the short-term trade setup suggests the price is preparing to go way beyond these levels, aiming to achieve higher targets. The token is trading in an expanding megaphone in the short term, which substantiates the bullish claim in the long term.
However, the volume appears to have exhausted a bit, due to which the price has been consolidating along the lower support for a while. Besides, the DMI is going bearish, which suggests the trend may soon fall in favour of bears, accompanied by a notable drop in ADX. Now that the markets are approaching the monthly close, a minor rise in volatility may be expected, which may lead to a fresh influx of liquidity and, in turn, lift the price towards higher targets.
The prevailing sluggish behaviour has dragged the RSI close to the average levels, but it has strongly sustained above. This suggests the bulls are still in action and may exhibit their strength very soon. With the next bullish push, the Pepe (PEPE) price is believed to initiate a flip and mark new highs along the upper resistance of the pattern above $0.0000055. With this, a higher possibility of the price reducing to zero may occur by the end of the quarter.
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