The PEPE token saw a 30% increase over the past week, pushing its value above the $0.00001 mark. Let's examine what future awaits this asset.
Technical Analysis of PEPE
Looking at PEPE’s chart, we see some interesting developments. The token recently broke out of a downward channel pattern, surpassing both the $0.0000091 resistance level and its 200-day moving average at $0.0000093. This breakout signals a potential resumption of the uptrend.
Short-term Perspective
However, it’s worth noting that the price has now reached a new resistance level at $0.0000113. With the Relative Strength Index (RSI) pushing above 70, indicating overbought conditions, we might see some profit-taking in the near term. For those considering an entry, a pullback to around $0.000093 could present a buying opportunity, with a potential upside of about 15% to the $0.0000113 resistance level.
Spotlight on Other Meme Coins
Besides PEPE, other meme coins worth watching include Panda World, which combines gaming and blockchain technology. Panda World offers a turn-based RPG experience with quests, card collection, and team-building elements.
The short-term trend for PEPE appears strongly bullish, although the long-term outlook remains bearish. Investors should exercise caution, manage risks, and set appropriate price alerts.
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