- KALEO predicted that PEPE’s market cap might quickly climb above $1 billion quickly.
- The analyst highlighted the truth that PEPE’s worth just lately broke out of a long-term chart sample.
- At press time, PEPE was buying and selling at $0.000001333 following a 24-hour acquire of 0.46%.
In a tweet right now, the cryptocurrency dealer and analyst KALEO predicted that the market cap for Pepe (PEPE) might climb to above $1 billion. Based on the put up, the meme coin’s market cap at present stands at round $525 million.
The analyst primarily based his bullish prediction off the truth that Dogecoin (DOGE) noticed its market cap peak at $80 billion within the final bull cycle. In the meantime, Shiba Inu’s (SHIB) market cap reached $40 billion throughout this era. So as to add credence to the constructive outlook, the analyst highlighted that PEPE’s worth broke out of a long-term chart sample.
At press time, CoinMarketCap indicated that PEPE’s worth skilled a 24-hour acquire of 0.46%. Subsequently, the altcoin was buying and selling palms at $0.000001333. This constructive day by day efficiency additionally pushed PEPE’s weekly efficiency additional into the inexperienced zone to +15.27%.
Trying on the day by day chart for PEPE/USDT, the meme coin’s worth was capable of get away of a symmetrical triangle chart sample over the previous 48 hours. Because of this, PEPE was making an attempt to problem the $0.0000013586 resistance stage at press time.
Ought to the cryptocurrency’s worth shut a day by day candle above this worth level throughout the subsequent 48 hours, then it’ll have a transparent path to rise to $0.0000016790 within the following week. Then again, if PEPE’s worth is rejected by this resistance stage, then will probably be liable to falling to the essential help stage at $0.0000009930 in the following couple of days.
The bullish thesis is extra more likely to play out given the truth that a noteworthy bullish technical flag was on the verge of being triggered. At press time, the 9-day EMA line was seeking to cross above the 20-day EMA line. If these 2 technical indicators cross within the upcoming couple of days, then it’ll point out that PEPE’s worth has entered right into a short-term constructive cycle.
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