Can This PEPE Price Chart Drive the Meme Coin Higher?
The 4-hour PEPE price chart has formed a bullish pattern, suggesting that the meme coin’s price may be ready to hit new highs. At press time, PEPE’s price was $0.000021, down 17% from its all-time high set on November 14.
As a result, 1% of token holders are in the red zone, while 7% are at the break-even point. this On-chain analysis Revealing how PEPE’s price action benefits all of these holders.
Pepe technical pattern heralds recovery
Analysis on the 4-hour time frame shows that the PEPE price chart has formed a bull flag pattern. A bull flag is a continuation pattern that indicates the price of a cryptocurrency may resume an upward trend after a brief period of consolidation.
This pattern consists of a “flagpole” that represents periods of rising prices. Next are the “Flags”, which indicate consolidation phases, and breakouts, which occur after price rises above the resistance line.
As shown below, PEPE prices on the verge of collapse A break above the $0.000021 area. Once confirmed, this bull flag pattern could lead to a significant price increase above the all-time high of $0.000025.
this prophecy It is also consistent with the position of Global Inflows/Outflows of Money (GIOM). Global GIOM indicators combine all wallet Addresses are grouped into clusters based on the price range of their previous stock purchases.
Larger clusters indicate stronger support or resistance at these price points, as they represent the positioning area for many investors. According to data from IntoTheBlock, only 3,940 addresses hold 2.76 trillion tokens, with a cumulative value of approximately $0.000023.
consider the weak resist And with strong support, the price of PEPE may rise. In short, on-chain indicators suggest that Meme coin’s value could rise to $0.000041.
PEPE Price Prediction: First Target at $0.000032
On the daily PEPE price chart, Token seems to have followed Similar to the 250% rise around March. At that time, the frog-themed meme coin broke out of a descending channel.
From September 29 to the first week of November, PEPE traded within a descending channel. While it has exploded, the chart above shows that meme coins are likely to climb in value.
If this happens, then the value could rise to 0.000032 and possibly even $0.000041. On the other hand, this may not happen if selling pressure increases. instead, PEPE may drop Below $0.000015.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
