Pepe Coin Set to Achieve New All-Time High; Here are the Crucial Factors Driving the Surge
New ATH in Sight for Pepe Coin as It Surges 1300%, Setting It Apart from Dogecoin and Shiba Inu
Pepe coin is making waves in the cryptocurrency market with its impressive surge of 1300%, surpassing other meme coins like Dogecoin and Shiba Inu. While it has struggled to maintain momentum above $0.0000080, recent developments suggest that Pepe coin is gearing up for new all-time highs.
One key factor behind the surge is a reduction in the total supply of Pepe tokens from 180.7 trillion to 178.7 trillion. This reduction in supply could potentially drive up prices, as supply and demand dynamics play a significant role in cryptocurrency performance.
Another noteworthy factor is the increasing “meme coin age” of Pepe coin. This metric measures the average time since the coin’s last movement, and it has been steadily increasing throughout the month. This indicates that more investors are holding onto their Pepe tokens instead of selling them, signaling growing confidence in the coin’s long-term prospects.
Currently, Pepe coin is in a consolidation phase, striking a balance between token supply and demand. This stability sets the stage for potential upside in the near future.
Crypto analyst Bear Girl Crypto predicts bullish momentum for Pepe coin, pointing to the 20-day Exponential Moving Average (EMA) trending upwards at $0.0000079. If this momentum continues near the EMA20 level, there is a high chance that the price could surpass the $0.00001 mark. Such a move could propel Pepe coin towards key resistance levels at $0.000014 and potentially even $0.000017.
Furthermore, the Relative Strength Index (RSI) is currently above the neutral zone, indicating a favorable environment for buyers. This further supports the potential for upward movement in Pepe coin’s price.
At present, Pepe coin is valued at $0.000008, experiencing a slight decrease of 1.35%. However, it has recorded a trading volume of $613,587,365 over the last 24 hours, indicating strong market activity and interest in the coin.