😱🔥PEPE started to rise due to the news effect🚀🐸

#PEPE , one of the most popular memecoins of recent times, gained momentum with the listing of crypto exchange Kraken in the US.

Donald Trump, who won the US presidential election, accompanied the sharp rise of cryptocurrencies. The increase in memecoins in particular did not go unnoticed. Sharing a post on X (formerly Twitter) on November 6, Kraken stated that $PEPE was ready to be traded for US customers.

The continuation of the memecoin trend, the rise of the market and Kraken's listing move brought PEPE to the forefront more. The popular memecoin, which has increased by 19 percent in the last 24 years, seems to be making its mark on the bull season.

PEPE technical analysis

The weekly breakaways signal a bearish flag formation in the PEPE price movement. It could be seen in the direct part of the flag formation during the bull run in early 2020 and reached ATH at $ 0.00001722 in May.

After this peak, PEPE entered a falling channel formation. However, the rise in the market with Donald Trump's victory in the US presidential election pushed the popular memecoin upwards.

This week, the memecoin, which rose by 25 percent to above $ 0.000010, encountered an upward break. The possibility of a bullish rally, MACD and signal lines are preparing for a positive approach.

The last positive crossover in the weekly MACD indicator was experienced by the bulls at the beginning of 2024 and led to an increase of close to 1000 percent. According to the Fibonacci levels, the bullish flag formation shows that the trend is ready to test the 23.60 percent Fibonacci level of $ 0.00001171.

#PEPEUSDT #memecoins #binance