{"id":452883,"date":"2024-12-18T05:00:11","date_gmt":"2024-12-17T23:30:11","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=452883"},"modified":"2024-12-17T20:27:09","modified_gmt":"2024-12-17T14:57:09","slug":"pepe-forms-a-bullish-triangle-will-it-hit-0-000028","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/pepe-forms-a-bullish-triangle-will-it-hit-0-000028\/","title":{"rendered":"Pepe set for 17% surge: Should traders go long?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">PEPE could soar by 17% to reach the $0.000028 level if it closes a four-hour candle above the $0.0000243 level.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">80.57% of top Binance traders currently hold long positions, while 19.43% hold short positions.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/pepe-investor-turns-3k-into-73m-heres-how-it-happened\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Pepe [PEPE]<\/a>, the world\u2019s third-largest memecoin by market cap, is poised for upside momentum as it has formed a bullish price action pattern on the daily time frame. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The overall cryptocurrency market cap appears uncertain, with top assets like <a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Bitcoin[BTC]<\/a>, <a href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a>, and <a href=\"https:\/\/ambcrypto.com\/predictions\/ripple-price-prediction\">Ripple[XRP]<\/a> gaining notable upside momentum, while others continue to struggle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amid the uncertain cryptocurrency market, PEPE appears promising as it has gained notable attention from crypto investors and whales, hinting at a potential upside rally. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">I<\/span><span style=\"font-weight: 400;\">n addition to rising investor interest, the memecoin\u2019s bullish outlook is further supported by on-chain metrics and price action.<\/span><\/p>\n<h2><b>PEPE\u2019s bullish on-chain metrics\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Data from the on-chain analytics firm Coinglass\u2019s PEPE Spot Inflow\/Outflow metrics revealed that exchanges have witnessed a significant outflow of $15 million worth of PEPE over the past two trading days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the cryptocurrency context, \u201coutflow\u201d refers to the movement of assets from exchanges to wallet addresses, which indicates potential upside momentum and suggests an ideal buying opportunity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the outflow metrics mainly consider the participation of long-term holders, whales, and investors. In addition, traders on Binance have shown strong interest in the memecoin. Currently, Binance&#8217;s PEPEUSDT Long\/Short Ratio stands at 4.15, indicating significant interest among traders.<\/span><\/p>\n<figure id=\"attachment_452891\" aria-describedby=\"caption-attachment-452891\" style=\"width: 1761px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93.png\"><img decoding=\"async\" class=\"wp-image-452891 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93.png\" alt=\"PEPEUSDT long\/short ratio \" width=\"1761\" height=\"412\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93.png 1761w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93-300x70.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93-1024x240.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93-768x180.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93-1536x359.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/image-93-1200x281.png 1200w\" sizes=\"(max-width: 1761px) 100vw, 1761px\" \/><\/a><figcaption id=\"caption-attachment-452891\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Currently, 80.57% of top Binance traders hold long positions, while 19.43% hold short positions.<\/span><\/p>\n<h2><b>Technical analysis and key levels\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to AMBCrypto&#8217;s technical analysis, PEPE has formed a descending triangle pattern on the four-hour time frame and is on the verge of a breakout. If PEPE breaks out of the pattern and closes a four-hour candle above the $0.0000243 level, there is a strong possibility it could soar by 17% to reach $0.000028.<\/span><\/p>\n<figure id=\"attachment_452885\" aria-describedby=\"caption-attachment-452885\" style=\"width: 1456px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/PEPEUSDT_2024-12-17_12-54-54-1-e1734434216272.png\"><img decoding=\"async\" class=\"wp-image-452885 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/PEPEUSDT_2024-12-17_12-54-54-1-e1734434216272.png\" alt=\"PEPE technical analysis\" width=\"1456\" height=\"757\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/PEPEUSDT_2024-12-17_12-54-54-1-e1734434216272.png 1456w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/PEPEUSDT_2024-12-17_12-54-54-1-e1734434216272-300x156.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/PEPEUSDT_2024-12-17_12-54-54-1-e1734434216272-1024x532.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/PEPEUSDT_2024-12-17_12-54-54-1-e1734434216272-768x399.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/PEPEUSDT_2024-12-17_12-54-54-1-e1734434216272-1200x624.png 1200w\" sizes=\"(max-width: 1456px) 100vw, 1456px\" \/><\/a><figcaption id=\"caption-attachment-452885\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On the positive side, PEPE\u2019s Relative Strength Index (RSI) is still below the overbought area, indicating the asset has room for an upside rally.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Combining these on-chain metrics, it appears that bulls, including traders and long-term holders, are currently dominating the memecoin. This could support a breakout from the pattern and propel the memecoin by 17% in the coming days.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/pepe-price-prediction\">Pepe&#8217;s [PEPE] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Currently, PEPE is trading near $0.0000235, having experienced a price surge of over 1.5% in the past 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During the same period, its trading volume increased by 15%, indicating heightened participation from traders and investors amid PEPE\u2019s bullish outlook.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On-chain metrics revealed that exchanges have witnessed $15 million worth of PEPE outflow.<\/p>\n","protected":false},"author":97,"featured_media":452921,"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-452883","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 v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PEPE price poised to breakout, Bulls eye 17% rally<\/title>\n<meta name=\"description\" content=\"Pepe (PEPE) is on the verge of a bullish descending triangle breakout, which could propel the meme coin by 17%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" 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