- A crypto analyst is bullish on PEPE as he expects to add more to his PEPE stack when it makes a slight decline to $0.00000127.
- Another analyst has shown that most indicators point to a bullish run for the meme coin.
PEPE was one of the meme coins that gained a lot of attention this year after recording thousands of percentage growth since inception. The market sentiment surrounding the meme coin took a nosedive from bullish to neutral, causing the price to fall by 15 percent in the last 30 days and 16 percent in the last 90 days.
However, the market is showing signs of recovery as its seven-day run has seen an impressive 23 percent growth at $0.000001. Interestingly, Dogecoin has recorded a slight pullback in the past few days after investors made 5 percent gains on their investments in the last 30 days.
Shiba Inu has also made a 13 percent surge in the past seven days, a 26 percent surge in the past 30 days, and a 16 percent surge in the past 90 days. Based on market data, both Dogecoin and Shiba Inu currently have a bearish market sentiment, unlike PEPE.
An Analyst, Michaël van de Poppe, has informed his 663,100 X followers that PEPE is gathering momentum to break out. However, he is on high alert awaiting for the asset to make a slight pullback to a support level of $0.00000127 before acquiring more.
I’m looking for some trades on PEPE as memecoins seem to be taking some momentum. Not only DOGE is in my bags already, SHIB is showing momentum as well, so PEPE follows along. A flip of $0.00000127 is a trigger (if we take out the high at $0.00000135).
More Analysis on PEPE
Another analyst also observed that PEPE has formed seven green consecutive candle sticks, indicating massive buying pressure in a week. Another observation is that the asset is currently a few pips above the Upper Bollinger Band. According to the analyst, there could be an overbought as the asset is experiencing a rapid upward movement.
Additionally, its Relative Strength Index (RSI) is 61, showing an increasing purchasing activity of the asset. These and a few other indicators strongly show a possible bullish run in the near term.
These bullish indicators are reportedly set up by increasing whale activities. It can be recalled that a whale transacted 486 billion PEPE ($604,000) on August 10, after the same wallet had made a purchase of 807 billion on August 9. Lookonchain reveals that the whale holds about 1.29 trillion PEPE ($1.61 million).
When the whale decides to hold the asset for a long time, the asset could have price stability, improved market sentiment, and subsequent price growth.
de Poppe Speaks on Bitcoin and Chainlink
de Poppe further spoke on Bitcoin, telling his followers that he would purchase the asset at $28,200.
Extremely astonishing price action on Bitcoin lately. I’m still favoring upwards momentum to come and I think we’ve bottomed + are not getting that heavy correction. If we lose $29,000 however, then I’ll be a buyer at $28,200. Flip $29,700 = party time.
Bitcoin is currently trading at $29,328.68.
Decentralized Oracle network Chainlink is also predicted to hit $8.44. To be part of this run, de Poppe is waiting to acquire more of it at $7.30. As of press time, Chainlink was trading at $7.35.
