My PEPE coin price outlook remains the same as presented in my last week’s analysis. The memecoin showed good strength in the last week’s pullback in Bitcoin and major altcoins. This shows that the PEPE holders are not willing to capitulate anytime soon.
PEPE crypto has started the week on a positive note, as it is up 0.84% on Monday. Other altcoins are also showing modest gains due to some stability in the Bitcoin price.
At the time of writing, the leading memecoin is trading at $0.00000119 which is almost 10% above its last week’s lows. This price puts the market cap of PEPE crypto above $504 million and also makes it the 99th biggest cryptocurrency. Furthermore, in the past 24 hrs $88.7 million worth of meme coin has been traded on different exchanges.
As per the latest PEPE news, the developers behind the popular memecoins have transferred 400 billion coins on Binance. This move suggests the team wants to sell these coins which in turn may result in an increased selling pressure on the exchanges.
Nevertheless, the coin remains significantly down from its yearly high of $0.00000431. Therefore, if the frog-themed coin surges to a new all-time high, it would be almost a 280% increase from the current levels.
As far as the technical analysis is concerned, the PEPE coin price prediction is still looking bullish as the $0.00000108 support level is being held up nicely. There is even greater support below this level around $0.00000106, where lies the range lows.
Therefore, as long as the price remains above this support zone, the outlook on PEPE will remain bullish. However, I will be the first to flip bearish if the price breaks this demand zone as this could be curtains for the memecoin traders.
In the meantime, you are also welcome to follow me on Twitter to see how I trade Bitcoin and altcoins.
