Outperforming Dogecoin [DOGE] and Shiba Inu [SHIB], Pepe [PEPE] has emerged as a strong competitor in the meme coin market. With a gain of 16.71% since Monday’s low, Pepe has shown better performance compared to the 10% rise in DOGE and 13% increase in SHIB.
Pepe’s Short-Term Breakout Potential
Pepe is currently on the verge of breaking out of its short-term range. The levels of $0.000009 and $0.00000678 have served as rough boundaries, with the recent breach of resistance at $0.0000077-$0.000008 signaling a potential upward movement.
Technical indicators like the Money Flow Index and the A/D indicator suggest a strong momentum and buying pressure behind Pepe, indicating a possible move towards the local resistance zone of $0.000009-$0.0000095 before a pullback.
For swing traders, a retest of this region could provide an opportunity to secure profits from a long position.
Analysis through the Liquidation Heatmap
Looking at the liquidation heatmap, the key levels to watch are $0.000009 and $0.000006, which could act as magnetic zones in the upcoming weeks. A breakthrough of either of these levels might trigger a trend reversal.
While there is a chance for Pepe to surge beyond the expected range due to overall market sentiment, traders should remain cautious and expect some consolidation until a definitive market trend emerges.
Disclaimer: The opinions shared in this article are personal and should not be considered as financial, investment, or trading advice.