PEPE coin price has become hot once again after weeks of remaining in the downtrend. The price has surged 112% from its June lows. The latest analysis reveals that there is still more upside for the meme coin if the bullish sentiment in cryptocurrencies continues.
On Tuesday, altcoins are having a pullback after surging for the past few days. Bitcoin dominance is once again on the rise after a brief pullback as the BTC price broke above $31,000. PEPE coin price is down 4.89% today as the price consolidates after a major upwards rally.
PEPE Crypto Pumps 112% In 2 Weeks
There has been a massive increase in the trading volume of PEPE crypto in the past couple of weeks. This suggests that the bullish reversal is already in play. However, many analysts believe that the meme coin rally is over, and the project might not be a good long-term hold.
PEPE coin price has recovered the most when compared to other notable mem coins like LADYS, DOGE, and SHIB. This shows that the PEPE has outperformed most of the altcoins during this time. It also suggests that there is still demand for PEPE among crypto enthusiasts even, despite the coin being 60% down from its all-time high.
PEPE Coin Price Maintains Bearish Market Structure
Despite a 112% pump from the June lows, PEPE price is yet to break the bearish market structure that consists of constant lower highs and lower lows on the daily chart. Only a daily candle closure above $0.00000215 can make the PEPE coin price prediction bullish for the coming months.
As long as the price remains below this level, it won’t be a great idea to buy PEPE. Considering the momentum behind the ongoing bullish push, I expect the price to retest the $0.00000215 level in the coming days. This will be a 20% price increase from the current level. All PEPE holders need to watch the outcome of this retest very carefully.
I’ll keep posting my updated PEPE price analysis and upcoming 1000x gems on my Twitter, where you are welcome to follow me.
