The PEPE meme token has struggled considerably over the previous few months, failing to capitalize on the present bull market. Nonetheless, the coin seems to be experiencing some type of resurgence just lately, with its worth growing considerably over the previous week.
Whereas PEPE has clearly attracted the eye of some traders, it additionally seems to be a cryptocurrency of curiosity to specialists. For instance, a preferred cryptocurrency skilled on the X platform has sounded the alarm about shopping for meme cash.
Will the value of PEPE attain $0.0000017?
In a current article by X, outstanding cryptocurrency analyst Ali Martinez made a bullish prediction for the value of PEPE. The analyst mentioned that the cryptocurrency’s present setup means that it’s primed for a bullish rise.
This bullish prediction revolves across the formation of an inverse head and shoulders chart sample on the three-day timeframe. Usually, the pinnacle and shoulders worth sample depicts a bullish to bearish development reversal and indicators that the uptrend is coming to an finish.
A chart displaying the PEPE'S head and shoulders sample on the 3-day timeframe | Supply: Ali_charts/X
Then again, the inverse head and shoulders sample is a bullish chart sample that signifies a potential reversal of the downtrend. Martinez mentioned PEPE’s worth is at present forming the correct shoulder of an inverse head-and-shoulders sample, which implies costs are about to rise.
Moreover, cryptocurrency analysts talked about that the TD (Tom Demark) sequential indicator has turned off, sounding a purchase alert for the PEPE meme coin. With this optimistic sign and bullish chart formation, Ari Martinez predicts a long-term bullish trajectory for the cryptocurrency.
It will be logical to attend for a breakout and sustained shut above the neckline earlier than confirming the bullish thesis.On this case, traders might see PEPE worth as excessive as $0.0000017, a possible upside of 65% from the present worth level.
PEPE worth
On the time of writing, PEPE’s worth is round $0.000001015, down almost 1% up to now 24 hours. Nonetheless, Meme Coin has managed to retain most of its earnings on the weekly timeframe.
Based on knowledge from CoinGecko, the PEPE token has gained 10% up to now seven days. Nonetheless, from a broader perspective, the cryptocurrency has struggled to succeed in the heights it as soon as occupied.
PEPE’s worth has fallen by greater than 22% for the reason that starting of the 12 months. Regardless of this, the meme coin has a market capitalization of roughly $428 million.
PEPE worth at $0.000001016 on the day by day timeframe | Supply: PEPEUSDT chart on TradingView
Featured picture from Adobe Inventory, chart from TradingView
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