PEPE's Price Sparks Potential Price Rally Following Bullish Breakout Signal

PEPE’s Bullish Flag Breakout

Notably, PEPE’s price has exhibited three lower lows since May 17, while the Relative Strength Index (RSI) has shown higher lows. This disparity, also known as forming bullish divergence, has historically indicated a potential upward momentum for the underlying asset. In the case of PEPE, this technical formation could potentially trigger a notable 20-30% rally in its price.

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Read More: Expert Forecasts Epic Bitcoin Breakout, Will BTC Price Soar or Plummet Next Week?

PEPE Coin Price Action

While the market sentiment toward memecoins remains partially bullish, it’s worth noting that there is a lingering possibility of Bitcoin (BTC) experiencing a price crash to $25,000. If a drop in the price of Bitcoin sets off a selling frenzy, other cryptocurrencies, like PEPE, may follow suit. However, meme lovers and loyalists continue to actively participate in the market, fueling the overall enthusiasm surrounding these viral altcoins.

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With PEPE memecoin breaking free from its wedge pattern and exhibiting signs of bullish divergence, investors and meme enthusiasts alike eagerly await the outcome, hoping for a resurgence that could mark a turning point in the popular meme cryptocurrency’s destiny. As things currently stand, the price of Pepe’s native token gained by 20.58% in the past 24 hours and is presently exchanging hands at $0.000001835.

Also Read: Rich Dad Poor Dad Author Predicts Bitcoin At $100K, Calls It Insurance Against Corruption

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