Two Reasons PEPE Could See a 200% Price Spike

PEPE Poised for 200% Price Surge as Exchange Shortages Fuel Rally

Traders are optimistic about PEPE, predicting a 200% price increase as large transfers into self-custody deplete centralized exchange reserves.

Resistance Levels and Technical Analysis

Analysts anticipate PEPE could reach $0.00021 after successfully overcoming four crucial resistance levels: $0.00002886, $0.000023, $0.00002989, and $0.000094.

Since breaking out of a bullish flag pattern, PEPE has hit $0.00002093 on the price curve. The Relative Strength Index (RSI) is currently 62, indicating further potential for an upsurge.

Whale Activity and Momentum

Significant whale activity has been observed, with one whale withdrawing 309.6 billion PEPE ($6.45 million) from Kucoin and another withdrawing 42.2 billion PEPE ($849,000) from Binance. This buying pressure suggests growing confidence in the asset.

Large transactions exceeding $1 million have surged to a two-month high, while active addresses have also increased, indicating increased user engagement.

Support and Targets

$0.00001720 is identified as a key support level, while $0.0000289 is a potential target. However, a pullback below $0.000016 could invalidate the bullish thesis.

Current Market Position

PEPE ranks as the third largest meme coin, trailing only Shiba Inu (SHIB) and Dogecoin (DOGE), with a market capitalization of $8.76 billion.