Pepe Price Bounces Off Low as Investors Hope for Breakout
The price of Pepe (PEPE) has experienced a 5% spike in the past 24 hours, leading to speculation among traders that the coin may be on the cusp of a resurgence. However, many large traders are diverting their attention to the presale project Meme Kombat (MK), which they believe has the potential for higher returns before the end of 2023.
Over the past few weeks, PEPE has seen significant volatility. Since mid-August, its value has dropped by 49%, but in the last six days, it has experienced a 23% increase. The coin’s price found support at around $0.00000060, marking an all-time low since it was listed on centralized exchanges.
As a result of this bounce from the support zone, PEPE has broken out of its descending wedge pattern. This breakout has led some traders to predict a prolonged surge for the coin.
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