PEPE Jumps Nearly 10% In 24 Hours, Sparking Speculation Of A New Rally

Christian Encila

1 year ago

3 mins read

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Pepe (PEPE) may seize the opportunity to rally in the face of an ongoing volatility and price swings in the crypto market. With Bitcoin (BTC) recently dipping below $25,000 before swiftly rebounding to $26,000, the market has been in a state of flux. Such fluctuations often create an environment ripe for alternative cryptocurrencies to make their mark, and PEPE could be poised to do just that.

PEPE’s rally comes at a time when investors are seeking alternative options beyond the dominant cryptocurrencies. While Bitcoin continues to dominate the market, its price movements can have a cascading effect on other digital assets.

That being said, can PEPE capitalize on Bitcoin’s volatility and secure its own rally to attract investors seeking new opportunities in the crypto space?

PEPE Price Recovery Potential

In recent market developments, PEPE has witnessed a notable rally, as reflected in its current price of $0.0000009779 on CoinMarketCap. This surge represents an impressive 8.5% increase within a 24-hour period.

However, it’s important to note that this upward momentum follows a preceding seven-day slump of 7.96%, underscoring the inherent volatility that characterizes the cryptocurrency market.

PEPE showing bullish signs. Source: CoinMarketCap

The price of PEPE has undergone substantial fluctuations since early May, resulting in a significant decline of over 50% in its overall value. This decline has caused a shift in the market structure, signaling a bearish trend as sellers capitalized on shorting opportunities when the support levels at $0.00000162 and $0.00000115 were breached.

PEPE price in the green. Source: CoinMarketCap

Despite the bearish downtrend, recent price activity has hinted at the potential for a new bull run. Notably, the crucial support level at $0.00000094 demonstrated resilience in halting the downward movement.

The ability of the $0.00000094 support level to withstand selling pressure signifies buying interest at this level, indicating a potential for a renewed bullish sentiment in the market.

Bitcoin retakes the $26K territory on the weekend chart: TradingView.com

What PEPE Needs To Sustain Its Rally

As PEPE aims to maintain its rally and build on the recent positive momentum, several crucial milestones need to be achieved. According to a recent PEPE price report, a bullish surge in value would require breaking and closing above the trendline located around the $0.00000100 price zone.

This trendline acts as a significant resistance level that needs to be surpassed for the cryptocurrency to continue its upward trajectory.

Meanwhile, the meme token may be due for a recovery bounce given that PEPE has been aggressively sold off recently. This possibility is made more likely by the fact that PEPE’s 24-hour trading volume has increased from just over $50 million earlier this week to more than $100 million at the time of writing.

Featured image from ArtStation

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.