Pepe Coin To HIT New ATH, Here’s The Key Factors Behind The Surge
The post Pepe Coin To HIT New ATH, Here’s The Key Factors Behind The Surge appeared first on Coinpedia Fintech News
Cryptocurrency markets are entering an early bull run phase, with prices stabilizing before potential surges. Amidst this market trend, one cryptocurrency has captured significant attention, PEPE. With an impressive 1300% surge, PEPE is poised to hit new all-time highs soon, fueled by these top reasons.
Key Factors Behind PEPE Surge
PEPE, the popular meme-inspired cryptocurrency, has surpassed previous resistance levels, distinguishing itself from other meme coins like Dogecoin and Shiba Inu. Despite experiencing a remarkable 1300% increase in price over the past year, PEPE has struggled to sustain momentum above $0.0000080.
Recently, the total supply of the PEPE token underwent a reduction from 180.7 trillion to 178.7 trillion. This reduction could potentially contribute to a price surge, as supply and demand dynamics heavily influence cryptocurrency performance.
Another noteworthy factor is the PEPE coin’s “meme coin age,” a metric indicating the average time since the coin’s last movement. Throughout this month, the meme coin age has consistently increased, suggesting that more investors are holding onto their tokens rather than selling them.
Meanwhile, this growing meme coin age reflects increasing investor confidence in the PEPE coin’s long-term prospects. Currently, the PEPE coin is in a consolidation phase, maintaining a balance between token supply and demand.
Bullish Momentum Indicates Potential Upside
In a recent tweet post Crypto analyst Bear Girl Crypto stated that the 20-day Exponential Moving Average (EMA) is trending upwards at $0.0000079. As per the analysis, if this bullish momentum persists near the EMA20 level, there is a likelihood of the price surpassing the $0.00001 mark.
Such a move could propel the PEPE pair towards key resistance levels at $0.000014 and potentially even $0.000017. Additionally, the Relative Strength Index (RSI) is above the neutral zone, further indicating a favorable environment for buyers.
Currently, the Pepe coin is valued at $0.000008, marking a decrease of 1.35% in its price. Over the last 24 hours, it has recorded a trading volume of $613,587,365.
