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PEPE Sustains Steady Ascent, Fueling Speculation of Profits
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PEPE Sustains Steady Ascent, Fueling Speculation Of Profits

Christian Encila
Christian Encila
2 years ago
3 mins read
PEPE

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PEPE is now on the verge of a remarkable resurgence. After facing a decline in popularity, the meme coin seems to be reclaiming its former glory. 

With each passing day, this popular meme token seems to be clawing back all its losses, generating buzz among enthusiasts and observers alike. At the time of writing, PEPE’s price has seen a remarkable seven-day increase of nearly 10%.

But what exactly lies behind this newfound momentum? How has PEPE managed to overcome its tumultuous past and forge a path towards redemption?

Is A Rebound In The Offing For PEPE?

Amidst recent market fluctuations, PEPE enthusiasts have found renewed hope as the price of the iconic meme character experiences a significant surge.

Recent price report on PEPE indicate a strong bullish reversal from the support level of $0.00000084, with buyers seizing the opportunity to maximize their investments.

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The surge in PEPE’s value has been further fueled by Bitcoin’s rise to the $26.5k price zone during the same period, providing additional encouragement to PEPE bulls. As a result, investors are now speculating on the potential for further price gains in the short term.

As of the latest update, CoinGecko reports that PEPE’s price has climbed to $0.0000009421, reflecting a weekly rally of nearly 10%. 

Source: Coingecko

Breaking Bearish Trends, Facing Resistance

The recent surge in PEPE’s price has not only brought optimism to its enthusiasts but has also paved the way for a potential bullish reversal. This upward momentum has been accompanied by a breakthrough, as the meme coin managed to surpass the bearish trendline.

This breakthrough highlights the presence of significant buying pressure and further strengthens the belief among PEPE bulls.

 

PEPE price movement in the weekly timeframe. Source: CoinMarketCap.

However, there are still hurdles to overcome on the path to recovery. Bulls will encounter resistance at the $0.00000115 level, which marks an important threshold.

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A successful session close above this resistance would signify a break from the lower lows associated with the bearish slide, potentially igniting even more bullish activity and increasing investor confidence.

The market cap of cryptocurrencies at $1 trillion as of June 19. Chart: TradingView.com

On the flip side, failure to reclaim the $0.00000115 level would reintroduce sellers into the market. This would create opportunities for shorting, especially if the price remains unable to break above the resistance level. It is a critical moment for PEPE, and the outcome will determine the next phase of its journey.

It’s worth noting that the fortunes of PEPE are closely tied to the performance of Bitcoin bulls. As the leading cryptocurrency experiences further upside movement, investors are likely to flock to PEPE in search of short-term gains. 

Featured image from Shutterstock

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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