Pepe Coin Poised for Bullish Breakout, According to Crypto Expert
Pepe (PEPE), a popular meme-based token and competitor of Dogecoin (DOGE), is showing signs of a bullish breakout, according to crypto trading expert Ali Martinez. The expert predicts that Pepe could surpass the first significant resistance level at $0.00000166, followed by a potential move to $0.00000274. These observations align with Martinez’s previous analysis of Pepe forming a head-and-shoulders pattern and receiving a positive signal from the TD Sequential indicator.
Pepe Price Analysis
Currently, Pepe is trading at $0.00000125, with a 3.31% increase in the last 24 hours and a 21.15% increase on its monthly chart. If Martinez’s forecasts come true, Pepe could experience a significant 32.8% increase followed by an impressive 119.2% advance.
Meme Coin Frenzy?
Dogecoin, Pepe’s biggest rival, also appears to be on the brink of a bullish breakout after breaking out of a descending triangle pattern. Martinez suggests that this behavior is similar to what happened in 2020 when Dogecoin rallied by 28,770%. With both Pepe and Dogecoin showing bullish signs, the crypto market may be entering a revived meme coin frenzy season.
Hot Take: Proceed with Caution
While the potential for massive rallies in meme coins is exciting, it’s important to approach these investments with caution and conduct thorough risk analysis before committing significant funds.
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