- Pepe price has advanced 11% alongside awakening among meme coins.
- A break and close above $0.00000937 would confirm the continuation of the uptrend.
- If history repeats, FLOKI price could explode right after PEPE to become the sector’s top gainer.
Pepe (PEPE) price has joined the broader cryptocurrency community, awakening after a show of strength in the Bitcoin (BTC) price. Alongside the frog-themed crypto’s value surge, meme coins are also rallying, which is an unexpected turnout considering how the sector has reacted to BTC price rallying over the past few months.
Also Read: Pepe 15% surge could restart meme coin mania
Will FLOKI follow as Pepe price rallies?
Pepe price has soared 11% amid capital overflows from the BTC market. The token’s price action over the last two weeks has culminated in a falling wedge pattern, which is a technical formation signaling a bullish reversal after a downtrend.
Notably, the strength of the trend that is currently budding heavily depends on whether BTC price is able to sustain current gains. If it does, Pepe price could extend to the supply zone, which stretches from $0.00000874 to $0.00001003. A break and close above its midline at $0.00000937 would confirm the continuation of the trend.
If history were to rhyme, Floki price could also explode, as the meme coin has followed the lead of Pepe, and then some, with both meme coins following the BTC price cue.
Sounds like a wild ride! Let's see if the FLOKI train follows the PEPE rocketship to the moon
— Resham Singh (@Resham_888) March 20, 2024
The Relative Strength Index (RSI) is moving upwards to show rising momentum, alongside the consistent green histogram bars of the Awesome Oscillator (AO), indicating growing bullish sentiment. With this, the price action of PEPE price could remain bullish, enhanced by a show of strength from BTC.
FLOKI/USDT 12-hour chart
On the other hand, if the supply zone does hold as a resistance order block, Pepe price could suffer a rejection that sees the meme coin roll over toward the $0.00000581 support before a recovery.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.