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Pepe Coin Price Forecast From A Technical Standpoint
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From a technical standpoint, there is a possibility of a breakout for Pepe coin. The Relative Strength Index (RSI) indicates rising momentum, and the Awesome Oscillator (AO) is mostly green, suggesting a potential positive turn. To confirm an upward trend, it would be ideal to see a candlestick closing above the upper boundary of the descending parallel channel at $0.00000071. However, until Pepe coin surpasses and closes above $0.00000083, it remains in a bearish pattern.
In a highly bullish scenario, Pepe coin could breach the psychological level of $0.00000100, resulting in a 40% climb and potentially opening the door for further gains.
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On-chain Metrics
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Several on-chain metrics support a bullish outlook for Pepe coin. Santiment, a behavior analytics platform for cryptocurrencies, shows increased activity in exchange inflows and outflows, as well as a rise in the number of whale transactions with large amounts of USD in their accounts. Additionally, open interest for PEPE has seen a significant increase of 110%, indicating new capital flowing into the market.
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Converse Case
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However, there is still a possibility of a pullback for Pepe coin. The RSI below 50 and negative AO increase the chances of a downward correction. If profit takers sell or selling pressure outweighs buying momentum, the price could fall back within the bearish channel. Breaking and closing below the support floor at $0.00000060 would delay any bullishness and potentially result in a 15% decline.
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Meme Kombat Presale
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As Pepe coin continues its recovery rally, another meme coin called Meme Kombat is gaining attention. Meme Kombat presents itself as an all-new gaming platform designed for enthusiasts, with its native asset being MK. The project offers various earning opportunities for token holders, including active betting and passive staking. Despite being a new project, it already has a strong community with over 2K followers on social media.
The Meme Kombat presale has generated nearly $50,000 in sales out of its target of 1,000,000 USDT. Experts predict significant growth potential, with the current presale stage offering MK tokens at $1.667 each, available for purchase using Ethereum (ETH) or Tether (USDT).
Token holders who stake their MK can expect impressive Annual Percentage Yields (APY) of up to 112%. The tokens engage in battles, and the first season features eleven memes fighting to be the top contender.
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Hot Take: Pepe Coin Holds Potential for Breakout
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Pepe coin shows signs of potential breakout as technical indicators and on-chain metrics support a bullish outlook. However, caution is advised as a pullback is still possible. Additionally, the emergence of Meme Kombat as a new meme coin presents an alternative investment opportunity for crypto enthusiasts. With its unique gaming platform and attractive staking returns, Meme Kombat could gain traction among users looking for new meme coin ventures. Overall, both Pepe coin and Meme Kombat offer potential for growth in the crypto market.
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