{"id":443158,"date":"2024-11-17T02:30:27","date_gmt":"2024-11-16T21:00:27","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=443158"},"modified":"2024-11-16T17:38:35","modified_gmt":"2024-11-16T12:08:35","slug":"pepes-next-big-move-how-a-breakout-could-push-it-towards-a-new-ath","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/pepes-next-big-move-how-a-breakout-could-push-it-towards-a-new-ath\/","title":{"rendered":"PEPE&#8217;s next big move &#8211; How a breakout could push it towards a new ATH"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">PEPE outperformed rivals post its Coinbase listing, with consolidation possibly ahead<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">If a certain strategy plays out, a quick rebound can be expected from the memecoin<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The <a href=\"https:\/\/ambcrypto.com\/category\/memecoins\/\" target=\"_blank\" rel=\"noopener\">memecoin<\/a> market is heating up, and one token is rapidly catching attention. With triple-digit gains in just seven days, <a href=\"https:\/\/ambcrypto.com\/category\/pepe-coin-news\/\" target=\"_blank\" rel=\"noopener\">Pepe [PEPE]<\/a> is now just a step behind the top spot on the weekly gainers <a href=\"https:\/\/coinmarketcap.com\/gainers-losers\/\" target=\"_blank\" rel=\"noopener\">chart.<\/a> This has positioned the memecoin as a serious challenger to <a href=\"https:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\">Dogecoin&#8217;s [DOGE]<\/a> long-standing dominance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trading at $0.00002199 at press time, PEPE recently hit a new all-time high following its Coinbase <\/span><a href=\"https:\/\/x.com\/coinbase\/status\/1856744112189260193\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">listing<\/span><\/a><span style=\"font-weight: 400;\"> just two days ago. However, a small setback caused PEPE to drop by 14%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a result, many traders who sold at the listing price of $0.00001921 are now either stuck with losses or looking for a new entry. This creates an ideal setup for a potential short squeeze, one where the price can quickly rise as these traders close their positions or re-enter.<\/span><\/p>\n<h2>THIS setup presents critical opportunity for bulls<\/h2>\n<p><span style=\"font-weight: 400;\">Interestingly, bears have been actively shorting PEPE for much of this month, creating significant resistance and preventing the memecoin from reclaiming its ATH of $0.00002524.<\/span><\/p>\n<figure id=\"attachment_443184\" aria-describedby=\"caption-attachment-443184\" style=\"width: 1881px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847.png\"><img decoding=\"async\" class=\"wp-image-443184 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847.png\" alt=\"PEPE long\/short ratio\" width=\"1881\" height=\"509\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847.png 1881w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847-300x81.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847-1024x277.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847-768x208.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847-1536x416.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-16-153847-1200x325.png 1200w\" sizes=\"(max-width: 1881px) 100vw, 1881px\" \/><\/a><figcaption id=\"caption-attachment-443184\" class=\"wp-caption-text\">Source : Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">As a result, despite the Coinbase listing, the memecoin entered a consolidation phase, trading within a defined range of $0.00002100 to $0.00002400.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Typically, a hike in short positions alongside a price dip often suggests that bullish traders are expecting a parabolic move, one where they&#8217;re compelled to exit their positions to limit losses. This dynamic creates a balance between buyers and sellers, confining the price within a narrow range.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, this setup can present a critical opportunity for the market&#8217;s bulls. A breakout from consolidation could force shorts to cover, pushing the price higher as traders who sold or shorted will rush to buy back in at this key price point.\u00a0<\/span><\/p>\n<h2><b>Bulls must maintain conviction to drive PEPE forward<\/b><\/h2>\n<p>On the day of its listing, traders withdrew a staggering six trillion PEPE tokens from exchanges, driving a remarkable 47% intraday surge and pushing PEPE to a new all-time high.<\/p>\n<p><span style=\"font-weight: 400;\">However, large HODLers have since pulled back significantly, with <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/PEPE\/deep-dive?group=ownership&amp;chart=concentration\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">withdrawals<\/span><\/a><span style=\"font-weight: 400;\"> dropping to 942 billion tokens \u2013 A sharp decline from nearly 5 trillion just two days prior.<\/span><\/p>\n<figure id=\"attachment_443183\" aria-describedby=\"caption-attachment-443183\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1.png\"><img decoding=\"async\" class=\"wp-image-443183 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1.png\" alt=\"net flow\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-1-1200x675.png 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-443183\" class=\"wp-caption-text\">Source : Glassnode<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This slowdown highlighted a waning conviction in PEPE\u2019s long-term potential. For PEPE to break free from its current tug-of-war and reclaim its top spot on the charts, a reversal in this trend will be essential.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Without renewed momentum, the excitement from the Coinbase listing and the election cycle may dissipate, leaving bulls with little incentive to counter growing bearish pressure.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"https:\/\/ambcrypto.com\/predictions\/pepe-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Pepe\u2019s [PEPE] Price Prediction<\/a>\u00a02024-25<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">However, if bulls continue to accumulate, seeing the press time price as a &#8220;dip&#8221; worth buying, a short-squeeze could propel PEPE to $0.00002530. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This scenario seems more likely given the overall bullish market sentiment. Moreover, <a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin&#8217;s [BTC]<\/a> recent breakout past key psychological levels also positions PEPE as a strong alternative amid rising market volatility.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Traders have been betting against PEPE, but if whales allow it, this could soon backfire.<\/p>\n","protected":false},"author":113,"featured_media":443185,"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":[6427],"class_list":["post-443158","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","tag-ambcrypto"],"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&#039;s next big move - How a breakout could push it towards a new ATH - AMBCrypto<\/title>\n<meta name=\"description\" content=\"PEPE seems to be noting significant network activity after slipping into consolidation, setting its course for a breakout towards new ATH...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/pepes-next-big-move-how-a-breakout-could-push-it-towards-a-new-ath\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PEPE&#039;s next big move - How a breakout could push it towards a new ATH - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Traders have been betting against PEPE, but if whales allow it, this could soon backfire.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/pepes-next-big-move-how-a-breakout-could-push-it-towards-a-new-ath\/\" \/>\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=\"2024-11-16T21:00:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/NewsarticlesFIRitika1-1-5.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=\"Ritika Gupta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/x.com\/ritz1462\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ritika Gupta\" \/>\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\\\/pepes-next-big-move-how-a-breakout-could-push-it-towards-a-new-ath\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/pepes-next-big-move-how-a-breakout-could-push-it-towards-a-new-ath\\\/\"},\"author\":{\"name\":\"Ritika Gupta\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/96bf5310c15a47d22e470ff5b21ed082\"},\"headline\":\"PEPE&#8217;s next big move &#8211; 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