coin with a frog meme The price of Pepe (PEPE) has significantly increased during the past 24 hours. At the time of writing, PEPE has increased 13.22% in value to $0.00000125 over the previous day.
Notably, PEPE is the top gainer among the top 100 cryptocurrencies, according to statistics from CoinMarketCap.
Shiba Inu is being surpassed by PEPE in terms of daily gains. With a 10% increase in the last day, Shiba Inu is the second-highest gainer among the top 100 cryptocurrencies.
Blockchain analytics tool Lookonchain reports substantial whale activity in the week leading up to the PEPE price increase.
A whale, or significant holder, reportedly paid one million USDC to buy 807 billion PEPE at $0.000001239 just hours after PEPE’s price spiked.
PEPE looks ready for “pump”
Crypto researcher Ali outlines what to watch out for as PEPE seems to be recovering following a period of stagnation in previous weeks and months.
Ali draws attention to the possibility that PEPE is poised for a significant increase since a key indicator, the TD Sequential, has flashed a buy signal.
“PEPE appears to be pumped up. On the daily chart, the TD Sequential displayed a buy signal with the initial target set at $0.00000138. If this level is consistently closed above, PEPE might reach $0.00000159.Watch invalidation at $0.00000113, tweeted Ali.
After recovering from lows of $0.00000105 on August 7, PEPE is about to mark the second day of price rises. As of today’s session, the frog-themed cryptocurrency has achieved intraday highs of $0.00000126, although it is still some distance from Ali’s initial aim of $0.00000138.
If PEPE manages to maintain a close above this level, it can attempt to reach $0.00000159. The $0.00000113 level, as Ali points out, is the key to PEPE’s future gains, thus confirmation at this level could be required.
This suggests that PEPE must maintain above this level in order to continue increasing in price. On the other hand, support is anticipated around roughly $0.00000105 if PEPE fails close to this level. In this scenario, PEPE may stay in the range for a while.
