PEPE and Its Rise in the Crypto Market
Among the notable developments in the cryptocurrency world recently, PEPE, known as memecoin, is listed in the USA by the crypto exchange Kraken. This caused a significant increase in the value of PEPE. In addition, Donald Trump’s victory in the US presidential elections started a rising wave in the cryptocurrency market. Especially the increase in memecoins attracts the attention of investors and affects the general course of the market.
On November 6, it was announced in a statement on Kraken’s social media platform X (formerly Twitter) that PEPE was available for trading for US customers. This development, combined with the continuation of the memecoin trend and the general market rise, brought PEPE to the forefront. PEPE, which has increased by 19% in the last 24 hours, has begun to become one of the important players of the bull season.
PEPE Technical Analysis
When the price movements of PEPE are examined, signals of a bullish flag formation are observed on the weekly charts. The direct part of the flag formation was formed during the bull run in early 2020, and during this process, PEPE reached its all-time high (ATH) level of $ 0.00001722 in May. However, after this peak, PEPE entered a falling channel formation and there was a decline in its price.
With Donald Trump winning the US presidential election, the general rise in the markets was an important factor pushing PEPE upwards. This week, PEPE has surpassed an important psychological level, rising by 25% to over $0.000010. This may be a sign of an upward break.
Market Dynamics and Bullish Rally
As the possibility of PEPE’s upward rally increases, it is possible to say that technical indicators have started to give positive signals. In particular, the MACD (Moving Average Convergence Divergence) and signal lines are preparing for a positive intersection. In the weekly MACD indicator, the last positive crossover occurred in the bull market of early 2024, which led to a close to 1000% increase in the value of PEPE.
Fibonacci levels also provide important clues about PEPE’s future price movements. According to the bullish flag pattern, the trend appears to be ready to test the 23.60% Fibonacci level at $0.00001171. Breaking this level could signal the beginning of a new bull run for PEPE.
Conclusion
In light of all these developments, it can be said that PEPE has become an important player in the cryptocurrency market. This memecoin, which attracted the attention of investors, continues its rise, especially with the market activity following Donald Trump’s victory. PEPE’s technical analysis and market dynamics are increasing investors’ interest in this crypto asset and fostering hope of greater gains in the future. However, it should not be forgotten that, as in every investment, risks should also be taken into consideration.
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