Introduction
Pepe , a popular memecoin, is showing signs it might go up in value. Recently, it broke out of a symmetrical triangle—a pattern that usually signals prices might rise. It is trading at $0.00002069, a slight drop of 2.11%, but many believe it has the potential to climb higher soon.
Can PEPE Keep Rising?
Pepe’s price is recovering well and is now near an important level: $0.00002187. If the price goes above this point, it could signal a big jump, with the next target at $0.000030. This breakout also shows that fewer people are selling pepe, and more buyers are coming in. However, if it can’t go past $0.00002187, its price might stay flat or drop, possibly going back down to $0.00001682.
Pepe Signs of Growing Confidence
The NVT Ratio (Network Value to Transaction Ratio) is now at 60.62, up from 48. This number shows how active transactions are compared to the token’s value. A higher ratio means more people are using and trading Pepe, which could help keep the price strong. But for It’s price to rise even more, transactions must keep increasing.
Steady Daily Activity For Pepe
Every day, about 5,143 addresses are active on the Pepe network. This shows that a lot of people are still using and trading the token. If it’s price keeps going up, more users might join in, which could push the price higher.
What the Charts Say
Charts and tools also show positive signs for Pepe. The RSI (Relative Strength Index) is at 53.09, meaning the price has room to grow before hitting a limit. Another tool, the Directional Movement Index (DMI), shows buyers are stronger than sellers right now.
For it’s upward trend to get stronger, one part of the chart called the ADX (Average Directional Index) must continue rising. This would confirm the trend is gaining strength.
Traders Are Optimistic
Data from liquidations—when traders lose their bets on price movements—shows that $269.41K worth of bets against Pepe (short positions) were wiped out. This is a sign that traders believe in Pepe’s price going up. Still, It needs more buyers to keep the momentum and avoid a price drop.
Conclusion
Pepe’s breakout from the triangle, along with strong network activity and positive indicators, suggests it might rise higher. If it can pass the $0.00002187 resistance level, It could reach $0.000030. However, its future depends on consistent market support and continued buyer interest.
