Pepe’s Breakout – Can It Beat DOGE and SHIB in Performance

• Pepe demonstrates a strong bullish market structure on the daily chart.
• The range extremes from the past six weeks of trading have continued to confine price action.

Pepe [PEPE] has emerged as one of the top-performing large-cap meme coins, surpassing Dogecoin [DOGE] and Shiba Inu [SHIB]. It has increased by 16.71% since Monday’s low, in contrast to 10% for DOGE and 13% for SHIB.

The potential upcoming bull run would mark Pepe’s first significant rally as other meme coins have already experienced gains in previous bull markets. This suggests that PEPE holds greater upside potential.

Pepe remains within its short-term trading range

Although not precisely defined as a range, significant divergences were observed between the $0.000009 ($0.000009) and $0.00000678 ($0.000008) levels, which serve as rough boundaries of this trading area.

The past month saw resistance at the $0.0000077-$0.000008 range; however, this was broken during the recent rally.

The Money Flow Index indicates that this rally is picking up momentum with no divergences observed thus far. The MFI shows no sell signals currently present.

Over two weeks, the A/D has been trending upward reflecting increasing buying interest for Pepe assets.

The price is expected to test local resistance at around $0.000009-$0.0000095 before facing resistance from bears again. Swing traders who are positioned long may find opportunities to profit from retesting this zone.

A liquidation heatmap reveals critical short-term ranges.

A liquidation heatmap pinpoints $0.000009 and $0.00006 as key zones for liquidity in the coming week ahead; if either pool gets drained significantly it could likely initiate a trend reversal in sentiment.

Read Pepe’s [PEPE] Price Prediction for 2024-25

This scenario isn’t certain since robust market sentiment might propel Pepe prices beyond these current limits; However till prevailing conviction sweeps through market players traders should prepare for more confined price movements within established ranges。

Disclaimer: This content doesn’t constitute financial or investment advice but only reflects author’s views. P >

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