- The price of PEPE increased shortly after President Donald Trump shared a post featuring the popular meme, bringing significant public attention.
- This event coincides with technical signals on price charts and increased activity in trading markets that suggest PEPE could be preparing for a potentially large upward move.
Pepe Coin (PEPE) is experiencing a wave of excitement, fueled by a highly public moment involving President Donald Trump, and technical signs on its price charts that suggest potential for significant growth. These combined factors are drawing considerable attention to the meme coin.
Analysing PEPE’s Momentum and Price Targets
Recently, President Donald Trump shared a post on the social media platform Truth Social that included the Pepe meme. This event quickly grabbed the attention of the crypto community and the wider public.
Following President Trump’s post, the price of PEPE saw a quick jump of about 7%, and its daily trading volume increased significantly, highlighting how public attention can directly impact meme coin values. While some see this as a potential sign of growing mainstream awareness or even support, others see it as a short-term buzz driver.
Beyond the news headlines, market analysts are also looking at the technical behaviour of PEPE’s price. Currently, PEPE is trading at $0.00001445, up 5.69% in the last 24 hours, and sitting just below a key resistance level at $0.00001450.
Resistance is a price point where selling pressure often prevents the price from going higher. A technical line called the 50-period moving average is currently providing support for the price around $0.00001383.
According to market analyst LLuciano\_BTC, a pattern called a bullish fractal has been identified on PEPE’s chart. This type of pattern has, in the past, led to rapid price increases. Based on this pattern, the analyst is predicting a potential rally of over 103%, which could push PEPE to a new all-time high price around $0.000028364.
Another significant technical level to watch is near $0.000017000. If PEPE’s price can break above this level with strong trading activity, it could accelerate a move towards new all-time highs.
Data from Coinglass also supports a bullish outlook. Trading volume for PEPE derivatives has surged by 40%, reaching $2.4 billion in a single day. The total amount of open positions in these contracts has also increased significantly. This spike in futures activity indicates strong market engagement and often suggests that traders are betting on future price volatility, which, in this case, aligns with predictions for an upward breakout.
Traders are closely monitoring the $0.00001450 resistance level. A clear price break above this point, especially with high trading volume, could confirm that a significant upward move is starting. However, if the price fails to break through this resistance, it might fall back towards the support level at $0.00001352.
A mix of technical chart patterns, increased trading activity in futures markets, and sudden mainstream attention like the President’s social media post is creating strong momentum around Pepe Coin. While facing immediate resistance, these factors suggest that PEPE is potentially poised for a notable price rally shortly if the positive sentiment and buying pressure continue.