Will PEPE continue to rise after the recent 14% breakout?

The price of PEPE has seen strong fluctuations in the past few days, especially when this meme coin reached a rise to the sky of 14% on July 3, bringing the price to $0.00001. However, after this strong rise, PEPE has returned to a slightly lower level. Nevertheless, with the emergence of the Golden Cross pattern and a surge in volume, many investors and market experts are predicting that this coin will continue to make breakthroughs in the near future.

PEPE rise to the sky 14%: The first positive signs

On July 3rd, PEPE made an impressive breakout, soaring from $0.00000963 to a peak of $0.00001074 within 24 hours. After this rise to the sky, the price of PEPE has stabilized at $0.00001035, recording an additional increase of 7.24%.

This development indicates a distinct technical change, as PEPE not only surpassed the threshold of $0.00001 but also marked an important transition from a 5 decimal price to a 4 decimal price. This is a positive signal, reflecting the gradually forming stability of PEPE in the market. At the same time, this also establishes a new short-term support level at $0.00001.

One factor that cannot be overlooked in this price surge is the trading volume. During the breakout, more than 13.7 trillion PEPE were traded in just one hour. This demonstrates strong participation from investors, indicating significant interest from the community. Notably, the rise of PEPE becomes even more impressive when compared to the entire crypto market – which only recorded a rise of 5.92% during the same period.

Golden Cross Model – Confirming a New Bullish Trend?

One of the outstanding technical factors in the recent price rise of PEPE is the emergence of the Golden Cross pattern on the chart. This pattern forms when the short-term moving average (MA) crosses above the long-term moving average (MA), which is often seen as a clear signal indicating the beginning of a bullish trend.

The appearance of the Golden Cross has created a strong positive sentiment in the market, driving trading volume to skyrocket. Right after the initial price increase, a second wave of trading occurred, with 7.7 trillion PEPE exchanged in a short period of time. Such technical patterns not only attract the attention of algorithmic traders but also bolster the confidence of short-term investors, thereby paving the way for a strong breakout of PEPE in the coming days.

According to the current technical indicators, the next resistance level for PEPE may be at 0.000011 dollars. However, analysts emphasize that to maintain strong upward momentum, PEPE needs to keep a high trading volume. If the volume continues to be strong, this coin could easily break through this resistance level and continue its upward trend. However, the support zone at 0.00001 dollars still needs to be protected to avoid the price reverting to a downward trend.

PEPE Price Chart | Source: TradingView## PEPE leads but can it maintain its position?

The meme coin market in general has witnessed some impressive growth recently, with many coins in this space recording significant increases. BONK, for example, is one of the leading meme coins with a rise of 10%, reaching $0.0000182 on July 3rd. Next is Dogecoin, up 5.83%, climbing to a price of $0.17. However, this token later dropped to $0.16, indicating the inherent volatility of the meme coin market. Shiba Inu also recorded an increase of 3.55%, but showed signs of a slight decline afterwards.

Meanwhile, PEPE is currently the only memecoin in this group that maintains a stable price, keeping its value close to 0. However, this factor plays an important role in the meme coin space, as stability in value often creates strong attention from the community and investors. Investors will closely monitor PEPE's movements in the coming days to see if this coin can continue to maintain its growth momentum, especially as the price has remained stable for a long period.

With positive technical signals and strong trading volume, many experts believe that PEPE is likely to maintain its upward momentum in the near future. Although the value of PEPE still faces some challenges, factors such as the Golden Cross pattern, significant community participation, and high trading volume have created a solid foundation for the sustainable development of this coin.

With the growing interest from investors, PEPE may become one of the important tokens to watch in the current meme coin cycle. However, investors need to be aware that the market is always volatile and to achieve long-term profits, closely monitoring technical signals as well as changes in trading volume is essential.

Emma