PEPE surges by 13%, Will DOGE, SHIB follow the same?

In this ongoing challenging market, where top cryptocurrencies like Bitcoin, Ethereum, Solana, and others are struggling to gain momentum, the popular crypto-meme token Pepe (PEPE) has garnered massive attention from investors. Today, on April 22, 2024, PEPE, the world's 4th biggest meme coin with a market cap of $2.75 billion, experienced a substantial over 13% upside in momentum. PEPE technical analysis and upcoming levels

However, this significant upside momentum in PEPE may provide relief to its investors. The surge in price occurred following the completion of Bitcoin halving, while other crypto meme coins, including Dogecoin, Shiba Inu, and Dogwifhat, continue to face challenges.

The primary reason behind this price surge is the breakout of the consolidation zone. According to expert technical analysis, PEPE on a daily time frame exhibits bullishness, but it may encounter resistance near $0.000006. If PEPE on a daily time frame closes a candle above the resistance level, we may witness significant upside momentum in the coming days. Otherwise, PEPE will likely continue to struggle at the current level. Source: TradingView

Additionally, another factor attracting investors is the formation of a bullish flag and pole pattern. However, bullish confirmation is still pending until PEPE breaks out of this pattern. PEPE price-performance analysis

At the time of writing, PEPE is trading near $0.000006, and in the last 24 hours, it has experienced a substantial over 13% upside momentum. Over a longer period, PEPE has experienced over 20% upside momentum in the last 7 days. However, in the last 30 days, due to the release of the United States CPI (Consumer Price Index) data and geopolitical tensions between Iran and Israel, it experienced nearly 10% downside momentum.

Despite the impressive price performance, data from CoinMarketCap highlights that investors and traders are showing increased interest in PEPE, as the 24-hour trading volume has increased by 14%, reaching nearly $1 billion. However, the overall cryptocurrency market is up by 1.5%, with the world's largest cryptocurrency, Bitcoin, experiencing a 2% upside momentum, while Ethereum and Solana have experienced 1.5% and 3% upside momentum, respectively.