Can Pepe Sustain its Rise to $0.000017? Key Metrics Suggest
PEPE Bulls Gain Momentum, Price Could Surge Soon
The PEPE bulls have gained significant momentum in the past week as the memecoin’s price continues to skyrocket. Analysts predict a potential surge in the coming weeks as bullish patterns emerge.
According to CoinMarketCap, PEPE’s value has seen a 5% increase in the last 24 hours alone, reaching $0.00001229 with a market cap of over $5.17 billion.
A recent analysis of IntoTheBlock’s data revealed that 77% of PEPE investors are currently profitable, and there has been an increase in longer-term holders, reflecting growing confidence in the memecoin.
Prominent crypto analyst $SHIB Knight posted a tweet revealing another uptrend.
Potential Challenges Ahead for PEPE
However, despite the bullish momentum, there are potential challenges ahead for PEPE. The NVT ratio has increased recently, indicating that the asset may be overvalued and could experience a price drop in the near future.
Additionally, on the daily chart of PEPE, its Relative Strength Index (RSI) recorded a slight increase above the neutral mark while MACD remained in favor of sellers – indicating potential bearish crossover.
