Analysis

PepeCoin Surpasses DOGE And SHIB With Impressive Gain Over 20% In 24H

Key Points:

PepeCoin experienced a correction phase after reaching $0.0000017 in late June.
PEPE’s trading volume increased by over 11% in the past week, surpassing popular meme currencies like Dogecoin and Shiba Inu.
It witnessed a significant intraday increase of 20%, the $0.0000188 level poses a psychological resistance that could influence future price movement.

The frog-themed cryptocurrency PepeCoin (PEPE) recently entered a corrective phase after a price rise that reached the $0.0000017 threshold in late June.

In terms of 24h trading volume, PepeCoin has increased by more than 11% in the previous 7 days, exceeding popular meme currencies such as Dogecoin and Shiba Inu. This is an incredible accomplishment for our young meme currency.

This pullback lasted more than a week, giving the weary bullish momentum time to recover. Consequently, today’s price increase showed the continuance of the upward trend.

This event has sparked investor interest and boosted the overall crypto market, with popular meme currencies like DOGE and SHIB seeing price increases of 0.94% and 1.39%, respectively, in the previous 24 hours.

Today, PepeCoin had a strong infusion of purchasing pressure, resulting in a remarkable 20% intraday increase. This spike allowed the memecoin to break beyond the previously indicated $0.0000017 resistance level. A strong momentum breakout indicates a possible change in market mood and lays the groundwork for more positive momentum.

PEPE price 1h-chart. Source: TradingView

PEPE price is currently trading above the Fib 38.2% level, a resurgence in this price area will strengthen the sustainable uptrend for the upcoming PEPE. However, we also need to note that the $0.0000188 price zone is a psychological resistance that PEPE may suddenly turn around.

In the 4-hour timeframe chart, PepeCoin price broke the $0.0000017 level. This rejection shows that sellers are trending to rally at the psychological $0.0000188 resistance area, so the Fib 23.6% level or the same price of $0.000000166 could be the next destination for PEPE before it has more volatile. If the upward force stabilizes from this price zone, $0.000020 will be the target in the near future.

PEPE price 4h-chart. Source: TradingView

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.