Is PEPE About to Explode Again? Chart History Shows It Is

PEPE ( has increased by 10.3% in the past 24 hours and reached a level of $0.000007935 as the market continues to recover from the sell-off that occurred earlier this month. The meme coin has increased in price over the past two weeks and begins this third week on a strong note. Trading volume has surged by 71% in the past day and is currently at $605 million. Although other tokens have also increased in price recently, PEPE is currently the best-performing meme coin in the top 5, and its market capitalization has now surpassed Official Trump )TRUMP( by nearly 1 billion dollars. This reinforces PEPE's position as the third most valuable token in this category. After a sharp decline at the end of January, the open interest for PEPE has been on the rise since March 13 as market sentiment hit a record low and panic spread.

This could be an early sign that the market has bottomed out. From March 13 to March 23, the OI for this meme coin has increased by 30%. This may explain why the price of this asset has increased recently, as futures holders buy tokens on the spot market to hedge against risks related to this token due to the continued demand for PEPE contracts. PEPE could increase by 35% compared to the current level if it breaks through this resistance level. Switching to the chart, the daily price action of PEPE shows that positive momentum is picking up. This token seems to be preparing to retest the most recent lower high at $0.00000900. A price breakthrough above this level will reverse the downtrend and may mark the beginning of a new bullish cycle.

Momentum indicators are also supporting the bullish outlook for PEPE as the Relative Strength Index )RSI( remains above the signal line. Today, the oscillator has diverged significantly from that line. This often means that positive momentum is accelerating. At the current price level, PEPE has the potential to increase by about 15% if it retests the next important resistance level, which seems very likely to happen at this time. Meanwhile, if there is a bullish breakout, this coin could achieve a short-term gain of up to 35% as it may move close to the level of $0.000011.