Will PEPE Break ATH with Strong Growth Momentum?

In the past 24 hours, the global cryptocurrency market capitalization has increased by 2.40%, surpassing 3.40 trillion dollars. The price surge of Bitcoin has mainly driven this current upward trend. It has propelled altcoins to skyrocket—marking the beginning of altcoin season. In the context of the emerging Altseason, meme coins have experienced a moderate price increase. Major meme coins like DOGE and SHIB have recorded a reasonable level of growth. At the time of reporting, PEPE had risen 6.60% during the day, trading at $0.00002112. The meme coin started the day trading at $0.00002004 and reached its lowest and highest prices of $0.00001953 and $0.00002128 respectively. In addition, the market has witnessed a $1.60 million PEPE liquidation during this time. As a result, the daily trading volume of the meme coin has reached $3.05 billion. As November comes to an end, the meme coin themed around frogs, PEPE, has surged 120% in the last thirty days. The asset's lowest price was marked at $0.000007955 and the highest price at $0.00002484. On the other hand, according to analysts' analysis, the price of PEPE has been consolidated, showing no clear direction. However, an upward flag pattern is emerging. The Fibonacci retracement level shows strong support at 0.618, indicating a target price of 1.618. Can PEPE Maintain Its Current Speed? The technical analysis of PEPE indicates a healthy price increase in the market. The Moving Average Convergence Divergence (MACD) is above the signal line. If the momentum continues to strengthen, a price increase is expected in the near future.

An important thing to note is that the Chaikin Money Flow (CMF) indicator at 0.08 indicates that positive money flow may lead to an increase in demand. Meanwhile, the daily trading volume of the meme coin has increased by over 37.70%. PEPE's four-hour price chart signals the possibility of further upward correction. The current positive momentum could push the meme coin to new highs above current price levels. The meme coin may test the nearby resistance level at $0.00002168. Further price increases could potentially push PEPE beyond this level. On the contrary, if the current upward momentum of PEPE collapses, the potential downward momentum will emerge and that could immediately pull the price down to as low as $0.000020. Furthermore, the current market sentiment of PEPE is neutral, with a relative strength index (RSI) of 63.43. In addition, the daily chart of the meme currency shows the short-term 9-day moving average above the long-term 21-day moving average.