PEPE/USDT Price Analysis: The Frog is Flying with a Rise to 86%?

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Bittime  - As the pioneer of a supersonic rally, meme coin Pepe (PEPE) managed to outpace top competitors, not only in the meme sector but also in the entire crypto market. With increasing demand for PEPE, willthis frog-themed Altcoin jump again for another 86% gain?

PEPE Rounding Bottom Pattern Indicates a Bullish Trend

Amidst the bull run , the daily chart of PEPE price showed a series of extraordinary bullish candles, dispelling doubts of the previous recovery. Burying doubts about the recovery, the meme coin surged 522% from its February low of $0.000000867 and fueled a new breakout move.

Topping this week's surge at $0.00000545, the meme coin set a new record high, reflecting an increase in underlying demand. As PEPE traded at $0.00000541, an intraday surge of 23% occurred with a trading volume of $1.58 Billion, and the hype for PEPE continued to grow in the market.

Further, the daily chart shows a rounding bottom reversal with this bull run and ready for a breakout move. Thus, the bull run continues for PEPE in the daily chart with a new bullish engulfing candle.

PEPE/USDT Minor Correction Before Jumping to $0.000038

After a bullish surge beyond the previous high and a clear breakout of the rounding bottom pattern, PEPE price has surged drastically. Analysis of this pattern suggests a strong possibility for a 52% increase in the coming weeks, potentially lifting the price to $0.000008322.

Nonetheless, a retest of the breakout level may occur if trading volume decreases or market conditions worsen. This scenario could offer a secondary entry point for traders who have not yet joined in at $0.000004486.

PEPE/USDT Technical Indicators

Source: Bittime.com

On March 4, 2024, the price of Pepe (PEPE) was at $0.0000065451 or the equivalent of IDR 0.10 per coin, up 60.23% in 24 hours, 361% in the last week and 580% in the last 30 days.

To complete the fundamental analysis, the following technical indicators can be considered:

• Exponential Moving Average (EMA): A sudden rise in the daily EMAs (20, 50, and 100) reflects aggressive buyers.
• Relative Strength Indicator (RSI): The daily RSI line entering the overbought region indicates that PEPE price is likely to undergo a minor correction.

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Conclusion

Technical and fundamental analysis shows significant upside potential for PEPE/USDT. However, investors should always exercise caution and do their own research before making any investment decisions. It is important to remember that the crypto market is highly volatile and high risk.

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How to Buy Pepe Coin (PEPE) on Bittime

You can buy and sell Pepe Coin (PEPE) in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Pepe Coin (PEPE) is available on Bittime with  the market pair PEPE/IDR .  To be able to buy  PEPE USDT on  Bittime,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy Pepe Coin (PEPE) on Bittime . 

Monitor price chart movements of  Pepe Coin (PEPE), Bitcoin (BTC) ,  Ethereum (ETH) , Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.  

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.