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PEPE’s Hidden Catalysts: Why DOGE and ETH Could Trigger a 60% Explosion

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  1. PEPE’s 4-hour chart shows a bearish rising wedge; a breakdown below 6800 could trigger a drop to 6200, signaling potential losses.
  2. A successful defense of the 6800 support could lead to a bullish rebound towards 7500, with Ethereum’s momentum fueling a 50-60% rally.
  3. Despite technical warnings, PEPE leads in social and market activity, ranking highest among rising crypto stars, including BMT and CAKE.

Is $PEPE losing ground? The popular frog-themed meme coin has displayed warning signs. A rising wedge has formed on the 4-hour chart, a pattern that typically leads to a downward move. Amidst this troubling pattern, analysts have uncovered two key catalysts that could supercharge the meme coin.

After a robust rally of 14% in the weekly index, PEPE’s technicals depict signs of weakness inside this bearish wedge. Technical analysts note the price struggle near support, and suggest that a breakdown could trigger further losses. Traders are keeping an eye on these crucial levels. If support fails, a drop toward 6500 – 6200 could be next.

One of the possible scenarios is a bearish breakdown – If the price loses 6800, expect a move toward 6500 – 6200 as selling pressure builds. One key factor is to look out for high volume to confirm the breakdown.

On the other side, a bullish recovery scene would likely be defending the 6800 zone, which if successful could propel PEPE to bounce back toward 7500+. To put it simply, a breakout above wedge resistance would shift the momentum bullish again.

PEPE
Source: @cryptosatred

However, market experts suggest PEPE/DOGE and PEPE/ETH as the two key movements that should remain on the traders’ radar. Both Dogecoin and Ethereum have acted as market catalysts for the meme coin in the past. A successful breakout above the neckline resistance at $0.00000720 USDT can trigger massive moves on the meme coin.

PEPE Steals the Spotlight: Outranking BMT and CAKE as Social Activity Surges

Analysts further predict a 50-60% rally if Ethereum ($ETH) shows upward momentum (let’s assume, with a broader altcoin season).

While, traders and investors are laser-focused on the meme coin’s next move, PEPE is gaining tremendous traction based on the combined social and market activity today. As per LunarCrush, the meme coin is ranked at the top, making it the only high-ranked meme coin among the rising stars like Bubblemaps’ BMT token and PancakeSwap’s CAKE.