A few days ago, the PEPE coin skyrocketed, reaching a new all-time high, and the most prominent cryptocurrency, Bitcoin, climbed to the top. While Bitcoin hit a record of $73,641, the PEPE coin surpassed expectations by climbing to an astonishing $0.00001051.
According to data, PEPE Coin’s value has surged by an impressive 65% in the last week and 799% over the past month. It continues to dominate the trending cryptocurrencies chart, showing no signs of slowing down.
As investors celebrate these remarkable gains, Can PEPE sustain this momentum and continue its rally?
Technical indicators/analysis may provide valuable insights into the coin’s potential trajectory.
PEPE Coin’s Bullish Trajectory: Technical Indicators Fuel Optimism
The PEPE coin’s price action has been remarkable, with the cryptocurrency trading above the Bollinger Bands indicator. This signals bullish strength.
Based on the current price movement, the coin is expected to experience a slight pullback toward the Moving Average line to gather more liquidity.
However, this is not a cause for concern, as PEPE is anticipated to move back higher, potentially hitting new all-time highs.
The Money Flow Index (MFI) supports the bullish sentiment, which currently stands at 78, indicating an intense buying pressure in the market. This reinforces the positive outlook for PEPE’s price trajectory and suggests that the upward momentum could continue shortly.
Furthermore, the PEPE coin trades above the 50-day and 200-day Simple Moving Averages (SMAs), which is highly favorable. This positioning suggests that the current price is higher than average over the past 50 and 200 days. This further validates the bullish trend.
The Moving Average Convergence Divergence (MACD) indicator is above its signal line, showing green histogram bars. This implies that the bullish sentiment is powerful, and the upward momentum could persist if the favorable market conditions continue.
Given these technical indicators, investors may consider waiting for the anticipated pullback toward the Moving Average line ($0.000006) before entering the market. This strategy could allow them to accumulate PEPE at a more favorable price before the expected upward move.
However, it’s crucial to remember that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.
Factors Pushing PEPE Price Up
Elon Musk’s Influence: The Dogefather Elon Musk recently made an X post that caught everyone’s attention. The X platform CEO endorsed the PEPE coin on his social media page. This has made many people curious about PEPE, especially those who like meme-based cryptocurrencies.
Elon Musk’s tweet caused PEPE’s price to rise by more than 18% in just one day. Before this post was made, the coin was trading around $0.0000085. But, less than 24 hours later, PEPE has killed one zero, trading at $0.000010.
This increase in price shows that investors are excited about PEPE and think it could be a good investment. Also, posts like this from famous figures in the space could always attract more people into the system.
Stability and Resilience of PEPE: Adding to the positive shilling from Elon Musk, another factor helps push the price up.
According to sources, whales have been moving a lot of PEPE coins to big cryptocurrency exchanges. This suggests they see potential for making money with PEPE. One whale who bought a considerable amount of PEPE tokens four years ago recently moved some tokens and made over $6 million in profit.
Two big whales deposited $10.6M worth of $SHIB and $PEPE to CEX in the past 2hrs as the prices dropped today. Is the #memecoins season coming to an end?
1. Early buyer 0xd6b deposited 200B $SHIB ($6.49M) to #Gemini and #Cryptocom ~ 1hr ago.
Notably, 4 years ago, the whale… pic.twitter.com/l6M6O4D8Dv
— Spot On Chain (@spotonchain) March 12, 2024
Another whale sold some tokens and made around $3.3 million in profit. Even though PEPE’s price has ups and downs, it has quickly bounced back.
This shows that PEPE might be more stable than other meme coins, even when big investors are taking profits.
These factors combined have made the PEPE coin more attractive to investors. More people see the potential for making money with PEPE, especially after Elon Musk’s endorsement and the stability shown despite big investors taking profits. This could lead to more people buying PEPE coins in the future.
However, while the PEPE coin gears up for more price gains, investors may also consider exploring the promising opportunities the Smog coin presents. This coin is making waves in the crypto space and is worth bagging.
Smog could be the Next Solana Meme Coin to Explode
The Solana-based meme token $SMOG has shot up a lot, hitting new levels. This surge caught the eyes of investors and traders, who are now comparing it to other popular meme coins like Shiba Inu. On the last day alone, $SMOG increased by 19%, pushing it among the most valuable meme coins.
This surge came with a sudden increase in trading volume. Today, March 14, $SMOG is trading at $0.244, with a volume of more than $5 million.
Even though $SMOG is doing well, its trading pattern suggests there might be more room for growth, as there’s a lot of buying and support keeping the downside risks low.
What’s making this coin memorable for investors.?
Community Growth, Exchange Launch, and Market Comparisons
$ SMOG’s community is growing fast, with nearly 50,000 token holders. Also, over 1,000,000 airdrop quests have been completed on Zealy, showing lots of participation. Moreover, there’s talk in the $SMOG community about a possible listing on a significant exchange soon.
If true, this could make $SMOG easier to trade and push its price even more. Furthermore, comparing $SMOG to other meme tokens like $WIF, it seems $SMOG has room to grow. Recall that when $WIF was listed on Binance, its price shot up significantly, showing how exchanges can impact prices.
To join the $SMOG movement and airdrop, use wallets like Phantom and platforms like Jupiter DEX or Birdeye. You can stay updated by following $SMOG on social media like X (Twitter), Discord, and Telegram.
