- Pepe crypto price has done well in the past few weeks.
- The price more than doubled from its lowest level in June.
- It has formed a double-top pattern while volume flow is falling.
Pepe crypto price has made a strong bullish comeback in the past few weeks as tokens stage a comeback. The token soared to a high of $0.0000018, the highest level since May 20th. It has jumped by more than 110% from the lowest level in June.
Pepe volume rises
Pepe is a relatively new meme coin that has become highly popular among investors lately. Data compiled by Etherscan shows that the number of Pepe holders has jumped to more than 127k in the past few months. As a result, the token’s market cap has jumped to over $762 million.
Pepe, like other meme coins such as Shiba Inu and Floki Inu, has no utility. Instead, its goal is to disrupt inu tokens by making memecoins great again.
Therefore, Pepe coin price has jumped because of the growing traction in the crypto industry. For one, most cryptocurrencies have all jumped recently. Bitcoin has surged to over $30,000 while the total market cap of all coins has risen to over $1.2 trillion. Historically, meme coins tend to do well when Bitcoin is in high spirits.
Read more: How to buy Shiba Inu.
Meanwhile, the volume of Pepe tokens has been in a strong upward trend in the past few days. Its total trading volume in the past 24 hours came in at $231 million. Unlike other coins, this volume has been distributed well across all exchanges. Binance handled over $90 million worth of Pepe followed by OKX and Bitget.
Pepe crypto price prediction
The 4H chart shows that the Pepe price made a bullish trend in the past few days. It rose to a multi-month high of $0.0000018 as the momentum continued. By rising to this level, the coin moved above the key resistance point at $0.0000017, the highest level on June 23rd. This price was the upper side of the double-top pattern whose neckline is at $0.0000013.
A closer look shows that the coin’s volume has continued falling in after peaking on June 22nd. Therefore, there is a likelihood that the token formed a false breakout as it jumped above the resistance at $0.0000017.
As such, buyers need to push the token above the intraday high of $0.0000018. If this happens, the next level to watch will be at $0.0000020.
