bullish

Pepe

PEPE

<p>Pepe (PEPE), the world’s third-biggest meme coin, is poised for a massive bull run as it has broken out of a bullish price action pattern. Following this breakout, heightened participation from traders and investors has been observed in the past few hours.</p>   
<h2 class="wp-block-heading" id="h-traders-and-whales-fuel-pepe-s-breakout-momentum"><strong>Traders and Whales Fuel PEPE’s Breakout Momentum</strong></h2>   
<p>According to the recent report by the on-chain analytics firm Coinglass, <a href="https://coinpedia.org/news/pepe-price-could-10x-why-this-meme-coin-is-gaining-traction/">PEPE’s</a> open interest (OI) has skyrocketed by 13.56% in the past four hours and 5.6% in the last hour. This growing OI indicates increased trader interest in the meme coin.</p>   
<figure class="wp-block-image aligncenter size-large is-resized">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/21210248/image-2.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/21210248/image-2-1024x364.png" alt="" class="wp-image-383344" style="width: 100%;height:auto"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<p>Alongside traders, whales and institutions also appear more engaged, resulting in a significant rise in large transaction volumes, as reported by the on-chain analytics firm <a href="https://app.intotheblock.com/coin/PEPE" target="_blank" rel="noreferrer noopener nofollow">IntoTheBlock</a>.</p>   
<figure class="wp-block-image aligncenter size-full is-resized">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/21210333/image-19.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/21210333/image-19.png" alt="" class="wp-image-383345" style="width: 100%;height:auto"></a>
 <figcaption class="wp-element-caption">
  Source: IntoTheBlock
 </figcaption>
</figure>   
<h2 class="wp-block-heading" id="h-pepe-technical-analysis-and-upcoming-levels-nbsp"><strong>PEPE Technical Analysis and Upcoming Levels&nbsp;</strong></h2>   
<p>According to CoinPedia's technical analysis, PEPE has broken out of a bullish flag and pole price action pattern on the four-hour timeframe. In technical analysis, a flag and pole breakout is considered a strong bullish signal, often prompting traders and investors to initiate trades following the breakout.</p>   
<figure class="wp-block-image size-large">
 <a href="https://coinpedia.org/wp-content/uploads/2024/11/PEPEUSDT_2024-11-21_21-01-48.png"><img src="https://coinpedia.org/wp-content/uploads/2024/11/PEPEUSDT_2024-11-21_21-01-48-1024x448.png" alt="" class="wp-image-383343"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>Based on recent price action and historical momentum, if PEPE successfully closes a four-hour candle above the $0.0000222 level, there is a strong possibility it could surge by 65% to reach the $0.000036 level in the coming days.</p>   
<p>However, PEPE’s bullish thesis will remain valid only if the meme coin closes a four-hour candle above the mentioned level, otherwise, it may fail.</p>   
<p>Currently, the meme coin is trading above the 200 Exponential Moving Average (EMA) on both the four-hour and daily timeframes. Meanwhile, its Relative Strength Index (RSI) indicates a potential upside rally in the coming days.</p>   
<h3 class="wp-block-heading" id="h-current-price-momentum"><strong>Current Price Momentum</strong></h3>   
<p>At press time, PEPE is trading near $0.000020 and has experienced a price surge of over 5.10% in the past 24 hours. During the same period, its trading volume increased by 18%, indicating heightened participation from traders following the bullish breakout.</p>

PEPE Breaks Bullish Flag Pattern, Traders Eyes 65% Rally

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