{"id":440708,"date":"2024-11-08T17:30:19","date_gmt":"2024-11-08T12:00:19","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=440708"},"modified":"2024-11-08T12:35:08","modified_gmt":"2024-11-08T07:05:08","slug":"pepe-nears-key-resistance-heres-why-a-200-rally-could-be-next","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/pepe-nears-key-resistance-heres-why-a-200-rally-could-be-next\/","title":{"rendered":"PEPE nears key resistance &#8211; Here&#8217;s why a 200% rally could be next"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">A bullish pennant pattern appeared on the memecoin\u2019s chart.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">Selling pressure was low, but there were chances of a price correction.<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/pepe-coin-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">PEPE<\/span><\/a><span style=\"font-weight: 400;\"> investors were overwhelmed last week as they enjoyed massive profits. This latest price uptick has pushed the memecoin towards a critical resistance level. Will PEPE finally manage a breakout, which could result in a 200% hike soon?\u00a0<\/span><\/p>\n<h2><b>PEPE on the verge of a breakout\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">PEPE bulls clearly dominated last week as the memecoin\u2019s price surged by more than 21% in the past seven days. In fact, in the last 5% alone, the coin\u2019s value increased by 5%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, PEPE was trading at $0.00001098. The latest price uptick has pushed more than 243.5k PEPE investors in profit, which accounted for over 77% of the total number of PEPE addresses, as per <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/PEPE\/deep-dive?group=financials&amp;chart=inAndOut\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">IntoTheBlock<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the meantime, World Of Charts, a popular crypto analyst, posted a <\/span><a href=\"https:\/\/x.com\/WorldOfCharts1\/status\/1854503121797702067?t=C7KenY6ByIFqY9ba4DF8bQ&amp;s=19\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> revealing a bullish pattern on the coin\u2019s chart. As per the tweet, a bullish pennant pattern emerged on the memecoin\u2019s chart.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> To be precise, the pattern appeared in March, and since then the memecoin has been consolidating. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, the memecoin\u2019s price was hovering within a tight range and was testing the resistance of the pattern. In case of a bullish breakout, investors might get surprised with a 200% price rise in the coming months.\u00a0<\/span><\/p>\n<figure id=\"attachment_440709\" aria-describedby=\"caption-attachment-440709\" style=\"width: 2158px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM.png\"><img decoding=\"async\" class=\"wp-image-440709 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM.png\" alt=\"PEPE's bull pattern\" width=\"2158\" height=\"1156\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM.png 2158w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM-1024x549.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM-768x411.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM-1536x823.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM-2048x1097.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.54.56\u202fAM-1200x643.png 1200w\" sizes=\"(max-width: 2158px) 100vw, 2158px\" \/><\/a><figcaption id=\"caption-attachment-440709\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<h2><b>Odds of an actual breakout\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Since PEPE was testing the resistance of the bullish pennant pattern, AMBCrypto assessed the memecoin\u2019s on-cjhain data to find out whether they also hint at a bullish breakout. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per our analysis of Santiment\u2019s data, buying pressure on the coin was rising. This was evident from the rise in its supply outside of exchanges and the decline in its supply on exchanges.\u00a0<\/span><\/p>\n<figure id=\"attachment_440710\" aria-describedby=\"caption-attachment-440710\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024.png\"><img decoding=\"async\" class=\"wp-image-440710 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024.png\" alt=\"PEPE's supply on exchanges dropped \" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Pepe-PEPE-10.58.15-08-Nov-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-440710\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Additionally, AMBCrypto <\/span><a href=\"https:\/\/ambcrypto.com\/pepe-price-surge-imminent-whale-buys-5m-in-tokens-because\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\"> earlier that PEPE whales added 5.5 million USDT to Binance to acquire 535.81 billion PEPE worth $5.07 million. This reflected their confidence in the memecoin. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, at press time, memecoin&#8217;s supply held by top addresses dropped slightly, indicating a possible whale sell-off amidst the price hike. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nonetheless, the overall sell pressure continued to remain low. As per AMBCrypto&#8217;s look at Hyblock Capital\u2019s data, the memecoin\u2019s sell volume dropped from 100 to 17, meaning that investors were not keen to sell their holdings, which can be considered a bullish signal.\u00a0<\/span><\/p>\n<figure id=\"attachment_440711\" aria-describedby=\"caption-attachment-440711\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM.png\"><img decoding=\"async\" class=\"wp-image-440711 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM.png\" alt=\"\" width=\"2560\" height=\"1424\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM-300x167.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM-1024x570.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM-768x427.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM-1536x854.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM-2048x1139.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-08-at-10.59.54\u202fAM-1200x668.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-440711\" class=\"wp-caption-text\">Source: Hyblock Capital<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">We then checked PEPE\u2019s daily chart to see what technical indicators suggested. We found that after a sharp increase, PEPE\u2019s price had touched the upper limit of the Bollinger Bands.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here\u2019s <\/span><a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">PEPE market cap in BTC\u2019s<\/span><\/a><span style=\"font-weight: 400;\"> terms\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Generally, when prices touch the upper limit of the Bollinger Bands, price corrections follow. If that happens, then the memecoin might first drop to its support at its 20-day Simple Moving Average (SMA).\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PEPE was testing a resistance, and a breakout could lead to a 200% rally.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":440716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,6390,4,20],"tags":[],"class_list":["post-440708","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-pepe-coin-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PEPE nears key resistance - Here&#039;s why a 200% rally could be next - AMBCrypto<\/title>\n<meta name=\"description\" content=\"PEPE investors were overwhelmed last week as they enjoyed massive profits, pushing the memecoin towards a critical resistance level\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/pepe-nears-key-resistance-heres-why-a-200-rally-could-be-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PEPE nears key resistance - Here&#039;s why a 200% rally could be next - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"PEPE was testing a resistance, and a breakout could lead to a 200% rally.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/pepe-nears-key-resistance-heres-why-a-200-rally-could-be-next\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-08T12:00:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/PEPE-ready-for-a-200-rise-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Dipayan Mitra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/DiDipayan\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dipayan Mitra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"AnalysisNewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/pepe-nears-key-resistance-heres-why-a-200-rally-could-be-next\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/pepe-nears-key-resistance-heres-why-a-200-rally-could-be-next\\\/\"},\"author\":{\"name\":\"Dipayan Mitra\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/a3c1a47ad2d3e2a023516862993813cd\"},\"headline\":\"PEPE nears key resistance &#8211; 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