PEPE coin: Bullish run hints at pullback before potential ATH

The Relative Strength Index, commonly known as RSI, hints at a potential pullback for PEPE. That is a frog-theme altcoin that was recently seen surging massively in the market. The current resistance is set at $0.0000058. There is rising speculation that the memecoin may see another hike of 86%, considering the demand is constantly rising. Additionally, altcoins might rule a new season.

The daily chart shows a bullish run for the token. That backs the dramatic surge in valuation, setting the stage for further growth. The two major indicators that strengthen the rise of PEPE are EMA and RSI. RSI states the possibility of a minor pullback before another surge. The EMA, or Exponential Moving Average, shows an aggressive buying nature among traders. The account holds true for 20, 50, and 100-day EMAs.

PEPE was last seen listed at $0.000007396. That was an increase of 70.17% in the last 24 hours. Moreover, it reflected a rise of 437.40% in the last 7 days. PEPE price prediction estimates that the token may soon hit the milestone of $0.000038. Except, it could take a pullback before the giant leap.

The market is optimistic about the rise of PEPE. Analysts said that there is a rise in the underlying demand with an intra-day increase of 23%, taking the trading volume to $1.58 billion. Also, analysts said there is a lot of hype around PEPE to support it for the next surge.

PEPE prices could take a dip. According to reports, whales have dumped almost 2 trillion tokens for $0.00000309 each. That roughly translates to a profit of $3.49 million. Proceeds generated here have been invested in SHIB, SAND, MANA, and GALA. Meaning there is strategic diversification, bringing the possibility of a slip in the valuation of PEPE.

SHIB has increased by 29.76% in the last 24 hours at the time of articulating this piece. It is exchanging hands at $0.00002718. MANA by Decentraland is also up by 7.43%, exchanging hands at $0.6792 right now.

Whales dumping PEPE tokens have not yet shown any sign of a downfall. Analysts expect that RSI will bring a minor pullback. The EMA remains bullish, along with the daily chart. The 24-hour volume is up by 162.70%, signaling a resurgence of enthusiasm and interest in PEPE tokens. It is only right to conclude that several investors want to capitalize on the momentum before it hits the pullback phase.

That said, SAND is up by 8.19%, and GALA is up by 9.96% in the last 24 hours. Both tokens are listed at $0.7048 and $0.04793.

Major altcoins have begun to operate amidst rumors of a slight pullback. The picture only makes it more evident that altcoins, in addition to significant tokens such as Bitcoin and Ethereum, may experience an upsurge in the near future.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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