Pepe Coin Price Climbs 37% in a Week as Trading Volume Hits 3-Month High, Fueling Bullish Predictions
Highlights:
- Pepe Coin shows bullish momentum, hinting at a potential 1500% surge.
- Whale activity doubled PEPE holdings in the past week, signaling confidence.
- Trading volume soared to $8 billion, breaking a 3-month high.
Pepe Coin (PEPE) has gained 37% this week despite a 10.6% dip in the past 24 hours, trading at $0.00001480. Its trading volume has surged to a 3-month high, sparking optimism for a potential 15X rally as it clears a five-month resistance level.
Pepe Coin’s Trading Volume Breaks 3-Month Record
According to Coingecko, Pepe Coin’s daily trading volume has reached $7.23 billion across chains like Binance Smart Chain, Ethereum, and Arbitrum One. This spike reflects increased trader activity, with the Average Directional Index (ADX) confirming heightened volatility.
The last time trading volumes were this high was during the August 5 market crash. Such elevated activity often precedes significant price movements, either upward or downward, as buying and selling intensify.
Bullish Indicators Suggest a Potential 1500% Surge
Crypto analyst CryptoZeus described PEPE as “Monstrously Bullish,” predicting a significant bull run for the meme coin.
Key bullish indicators include:
- Moving Averages: Pepe Coin is trading above its 50-day and 200-day simple moving averages, with the 50-day SMA acting as support.
- Triangular Breakout: A breakout from a triangular consolidation pattern, supported by increased trading volume, suggests bullish momentum and potential trend reversal.
- Candlestick Patterns: Recent candlesticks show strong upward wicks, indicating intense buying pressure.
If the upward trend continues, projected targets include $0.00002214 and $0.00002798, corresponding to the 0.27 and 0.618 Fibonacci extension levels. A more ambitious target of $0.00019749 could align with the end of an impulsive wave 3 structure.
However, a return to the triangle could invalidate this bullish scenario, with $0.00001119 acting as key support at the 0.38 Fibonacci retracement level.
Whales Drive the Rally
Data from IntoTheBlock reveals a surge in large transactions, with the count rising from 100 to over 1,020 in the past week. Large holder inflows increased by 104% over the last 7 days and 195% over the past month, signaling growing interest from “whales.”
Whale activity often indicates confidence in an asset’s potential, driving up demand and potentially contributing to price volatility.
Outlook for Pepe Coin
As PEPE maintains its bullish trajectory, analysts are closely monitoring key resistance and support levels. Sustained high trading volumes and continued whale activity could propel the meme coin to new highs, with many anticipating a potential 15X surge if the current momentum holds.
