Pepe Coin Poised for a 61% Surge: Is a Bullish Breakout Around the Corner?
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
As the Pepe Coin (PEPE) price consolidates below $0.0000080, analysts are starting to predict that a bullish breakout could be around the corner, with some going as far as predicting a 61% rally back to July highs at $0.000013.
For now, the Pepe Coin price remains stuck in a downtrend since its May peak.
It also recently fell below its 200DMA, which was last at $0.0000085 and acting as resistance.
However, the bears shouldn’t declare victory.
Fed Chair Jerome Powell is expected to give the green light for a series of interest rate cuts tomorrow.
Bloomberg Opinion columnist Mohamed El-Erian explains the three things he wants to hear from Federal Reserve Chair Jerome Powell at this week’s Jackson Hole economic symposium https://t.co/Dcu3EzbnAP pic.twitter.com/sD8BOtzmlr
Lower US interest rates mean better liquidity conditions are around the corner.
And as that new liquidity starts to flow, it often looks for a home in riskier assets.
That could be the trigger for a new meme coin season.
And, as a leading meme coin, Pepe Coin is perfectly positioned to benefit.
A retest of the upper bounds of the current downtrend in the $0.000011 area could be coming soon.
And a break above here would set up an imminent retest of the July highs around $0.000013.
That would mark a 61% pump from current levels.
But don’t expect a liquidity-fueled meme coin rally to stop there.
Pepe Coin and other major meme coins could quickly surge to fresh record highs, even going as far as 2-3x above their record price.
Pepe Coin is certainly one of the best cryptos to
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