PEPE Outshines DOGE, SHIB & FLOKI, Eyes A 22% Rally

Key Insights:

• PEPE has outperformed top assets like DOGE, SHIB, FLOKI, HYPE, and SUI.
• PEPE’s technical analysis suggests that the asset still has the potential to soar another 22% in the coming days.
• Approximately $3 Million worth of PEPE short positions are on the verge of liquidation.

PEPE has surged in popularity thanks to its strong performance over the past week. It’s now the third-largest crypto meme coin by market cap. The coin has outshone top meme coins like Dogecoin, Shiba Inu, and FLOKI.

It has also surpassed prominent assets such as Hypelink and Sui. This breakout run is drawing major investor attention across the market.

PEPE Dominates DOGE, SHIB, FLOKI, and others

PEPE has outperformed these tokens in terms of price gains and trader and investor participation. This leads to a surge in trading volume. Data from CoinMarketCap reveals that Pepe has recorded a significant 97% surge in trading volume.

It has reached $2.59 Billion over the past 24 hours. DOGE and SHIB followed it. This recorded increases of 80% to $2.40 billion and 46% to $418 million, respectively, during the same period.

Meanwhile, PEPE traded at nearly $0.0000128 in terms of price gain. It has recorded a price surge of over 16% in the past 24 hours, followed by DOGE and SHIB. This recorded 13% and 9.50% upticks during the same period.

Not only that, other significant assets like HYPE and SUI also lagged behind the PEPE meme coin. It recorded price surges of 9% and 10% during the same period.

PEPE Technical Analysis and Key Levels to Watch

According to technical analysis, PEPE appears bullish and is poised for significant upside momentum. The meme coin has cleared several key resistance levels on the daily chart.

It broke past a descending trendline and a major consolidation zone. It also surged above the 200-day EMA, signaling bullish momentum.

Following this breakout, the path for upside momentum appears clear. Also, the price may experience a smooth upward rally in the coming days.

Based on the current market sentiment, PEPE still has enough room to continue its upward momentum. This may further register another 22% rally. If this happens, the meme coin could reach the key resistance level of $0.000016.

Investors on Buying Spree, $16M of PEPE Leave Exchanges

Despite the continued price uptick over the past four trading days, investor and trader interest and confidence have remained strong.

Coinglass data revealed that over the past 48 hours, exchanges have recorded a significant outflow. They have experienced a $16.66 Million worth of the PEPE meme coin.

This outflow indicates that whales, investors, and long-term holders have been continuously withdrawing the token. This also suggests potential accumulation, a bullish sign for PEPE holders.

Traders Over-Leveraged Levels, Long in Focus

$0.00001246 on the lower side and $0.00001304 on the upper side are the levels where traders are over-leveraged. It was revealed by the PEPE exchange liquidation map.

Data further reveals that the current market sentiment  may remains unchanged and the price could the $0.00001304 level. If this happens, nearly $3 Million worth of short positions will be liquidated.

Conversely, the market sentiment may shifts and the price could declines to $0.00001246. As a result, approximately $7.77 Million worth of long positions will be liquidated.

This metric clearly indicates that traders betting on long positions significantly outnumber those betting on short positions. When combining this data with recent developments and the current price action, it appears that bulls are currently dominating.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.