Does PEPE Chart Indicate 11x Move? $SHIB and $DOGE Are ‘Stepping up’

PEPE's price has been declining lately, but its trading volume has increased by 30.65%, indicating growing investor interest. At the time of writing, it trades at $0.0000007259.

Crypto expert "@Decilizer" believes that $PEPE is "gaining strength" and could shed a zero from its price if Bitcoin remains bullish. He also noted that $SHIB and $DOGE are leading the memecoin sector, alongside PEPE.

PEPE's Key Support and Resistance Levels

The chart shared by Decilizer highlights two significant support levels: $0.0000007 and $0.0000004. These levels have remained stable during price drops, suggesting strong buying interest. The $0.0000007 level has been tested repeatedly, indicating a consolidation zone after minor pullbacks.

On the resistance front, PEPE faces a challenge at 0.00000110 USDT. This level has previously prevented upward price movements, making it a critical hurdle. Breaking above this resistance could propel PEPE into further bullish momentum, especially with broader market support.

PEPE's Chart Analysis: Technical Indicators Signal Momentum

The chart also shows the 50-period EMA (Exponential Moving Average) as dynamic support for PEPE's price. The token remains above the EMA, which is generally considered a bullish signal, suggesting potential upward movement.

The RSI hovers around the 40-60 range, indicating neutral momentum. This suggests that there is still room for price movements in either direction. Volume spikes during price surges also hint at potential volatility.

What's Next for PEPE?

Decilizer noted PEPE's price experienced an 11x surge in gains, a substantial increase in favorable market conditions. He believes that if Bitcoin remains bullish, PEPE may shed a zero from its price.

However, this would require a strong catalyst, with memecoin interest and volume driving upward momentum.

Decilizer also mentioned that $SHIB and $DOGE are performing well in the market, potentially leading to a broader rally in the memecoin sector. Their performance could positively influence PEPE's trajectory.

With PEPE holding above its key support levels, traders and investors await a breakout above 0.00000110 USDT, which could signal an upward trend.