Interpretation of the surge in PEPE prices: After the surge, can it continue to surge?
Pepe has surged 48% in the last 24 hours, which is a record high! Everyone is so excited that they think they can make a fortune. But I have to remind everyone that although the situation looks very good now, everyone still has to be careful and be prepared for possible declines at any time.
The rise in epe is actually the result of increased buying activities on decentralized exchanges. Everyone thinks that the "meme coin super cycle" is coming, and the future earnings of Dogecoin may be transferred to Pepe. This expectation has pushed up the price of Pepe.
However, with such a sharp rise, Pepe has also encountered some resistance. It hit a wall at the 61.8% Fibonacci extension level. Fibonacci is a magical number that many traders use to judge price trends. Let's put it this way, Pepe is now like climbing a mountain, and it is almost at the top of the mountain, but if you want to climb further, you have to work harder.
Some people predict that the long-term price of Pepe will be very optimistic, and even think that its market value may catch up with Dogecoin. But I think this is a bit too optimistic. Dogecoin is the big brother of meme coins and has been sitting firmly on the throne for many years. Although Pepe is in a strong momentum, it depends on the future trend to catch up with Dogecoin.
Let's talk about the short-term price forecast. Now, Pepe has two key price points, one is $0.0000247 and the other is $0.0000224. If Bitcoin can return to more than $90,000, Pepe may rise in the short term.
There is also news that Coinbase is listed, which may make Pepe hit a new high, but in the long run, this rise may slowly subside, giving Pepe some time to consolidate. We have to be prepared for various situations, manage our own risks, and hold patiently for a few months. Maybe there will be unexpected gains!
At present, Bitcoin is breaking through 9.3w, and the market is in full swing! In this situation, it is most suitable to lay out potential altcoins! I have carefully selected a currency that is expected to be 2-3 times in the short term and 5-10 times in the long term. Leave a message + like, and share it for free!
