PEPE Price Set for 50% Surge? Key Breakout Levels to Monitor
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
Over the past 24 hours, the Pepe price has seen a significant 11.51% surge, coinciding with growth observed among meme coins, up an average of 6.67%. Notably, PEPE has garnered particular interest in anticipation of a breakout.
Today’s gains have made significant ground in PEPE’s recovery, now standing at a 13.25% loss since last Friday – a decline suffered by most other notable cryptocurrencies.
The likes of which have placed PEPE at a loss over the past month, down 5.43%, erasing much of the progress it has made in recent weeks.
Indeed, trader interest in Pepe appears to be at a high as it makes significant headway. The meme coin’s trading volume is up 15.81% to $1.13 billion over the past 24 hours.
In an August 7th X post, prominent trader and AltCryptoTalk founder Sjull highlighted a bullish pattern forming on the PEPE chart.
Sjull noted that the PEPE price seemed to be following a pattern similar to that observed in April 2024. During that time, PEPE experienced a massive rally taking it to a new all-time high promptly after breaking out of a consolidation zone following a price decline.
Notably, A similar kind of consolidation has been observed in PEPE’s chart after the recent decline. He noted that we may see a similar kind of rally once this consolidation area breaks.
Bottoms take time to form.
Look at $PEPE back in April before the incredible run to an all-time high, and see it took several days to form a proper bottom before starting to rise.
In moments like this, it's important not to be shaken out and to hold on until the next pump!
