PEPE Coin Price Eyes $0.00001300 as Social Dominance May Pump the Asset
- 王林Original
- 2024-08-26 18:37:18771browse
Pepe coin price is generally bullish today, even though it slid 2.2% over the last 24 hours. The meme coin is up 23% over the last seven days
.00001300 as Social Dominance May Pump the Asset" >
Pepe coin price today showed a bullish bias despite a 2.2% price decline over the last 24 hours. However, the meme coin is up 23% over the last seven days.
The price of PEPE encountered resistance at a key level on the daily chart, prompting traders to react to this lag in price action. Data from Santiment highlighted a surge in PEPE social volume to a monthly high. This indicates the frequency of mentions of specific ‘pepe’ related keywords on social media platforms like X and Telegram increased over the last 24 hours.
When combined with the 7-day increase in the price of PEPE, this could suggest that investors are searching for more information about PEPE before investing in it.
However, Futures traders are closing their longs despite the asset rising in social volume and dominance. According to Coinglass data, although the longs are still higher than the shorts, traders are closing them in loss. When traders do this, they tend to open shorts, which may be a bearish signal for Pepe coin price.
The Pepe coin chart, on the other hand, shows a potential 39% price surge if it crosses a key level.
PEPE Price Set for a breakout to $0.00001300
The Pepe coin price chart shows a potential bullish breakout. The PEPE price has moved above a key resistance level and is trading close to the upper Bollinger Band, indicating upward momentum.
PEPE is likely to encounter short-term resistance around $0.00000955. Beyond this, 0.00001300 is the next potential target zone if the bullish momentum continues.
The price action trades near the upper band, usually indicating an overbought market but also suggesting strong bullish momentum. A breakout above the upper band could signal a continuation of the upward trend.
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