The post Technical Patterns Suggest Potential 65% Rally for Popular Meme Token appeared on BitcoinEthereumNews.com.

TLDR Pepe coin’s market cap has reached $7.3 billion, with analyst predictions suggesting potential growth to $50 billion and overtaking Shiba Inu Currently trading at key support level of $0.00001716, with technical analysis showing mixed signals including both bullish cup and handle pattern and bearish head and shoulders formation Ethereum’s expected price movement to $5,000 is considered a potential catalyst for Pepe coin’s growth Market cap difference between Pepe ($7.2B) and Shiba Inu ($12.6B) requires 75% growth for flipping scenario Recent price action shows resilience at triple-bottom pattern with neckline at $0.00002826 The cryptocurrency market witnessed notable price action on Tuesday as Pepe coin, the emerging meme token contender, displayed resilience at key technical levels while Bitcoin recovered from $88,000 to nearly $97,000. Market data shows Pepe coin currently maintaining a market capitalization of $7.3 billion, positioning it within striking distance of Shiba Inu’s $12.6 billion valuation. Recent price movements have established a critical support level at $0.00001716, coinciding with the upper boundary of a cup and handle pattern that developed between March and November 2024. Technical analysts note this pattern’s completion typically suggests continued upward momentum, particularly following successful retests of the breakout level. The token’s price structure reveals multiple technical formations, including a triple-bottom pattern with its neckline positioned at $0.00002826. Market participants have observed three distinct instances where the price refused to break below this level, instead creating false breakouts that typically indicate accumulation phases. Easily one of the most bullish HTF charts in crypto$PEPE looks ready to absolutely send to new all time highs and FAR beyond Bullish chart setup + ETH pending outperformance = Perfect storm for PEPE to absolutely SEND Only a matter of time before it rips PEPE flipping SHIB… pic.twitter.com/Qe3BRwBAs4 — Jameson (@jamesonxbt) January 14, 2025 Trading activity shows sustained volume above…

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Filed under: News - @ January 15, 2025 4:19 pm