Price Analysis
  • Chandan Gupta
    author-profile

    Chandan Gupta right arrow

    Author

    Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

    • 1 minute read

    PEPE Defies Market Crash, Eyes on 40% Rallyย 

    Pepe (PEPE), the worldโ€™s third-largest meme coin, is gaining significant attention from the crypto community due to its impressive upside momentum despite the ongoing bearish market sentiment. On March 8, 2025, while top assets like Bitcoin (BTC), Ethereum (ETH), and XRP are witnessing price declines, PEPE has defied the market trend, registering an impressive 7.5% gain in the past 24 hours.

    Current Price Momentum 

    With this impressive upside momentum, PEPE is currently trading near $0.0000073. Meanwhile, its trading volume has surged by 60% over the same period, indicating heightened anticipation from traders and investors compared to the previous day.

    PEPE Price Action and Upcoming Levels 

    This price surge has pushed the meme coin to the upper boundary of its consolidation range, positioning it for a potential breakout. According to CoinPediaโ€™s technical analysis, PEPE is trading within a narrow zone between $0.0000064 and $0.00000738. However, with todayโ€™s price surge, the meme coin is on the verge of breaking out of this pattern.

    Source: Trading View

    Based on recent price action and historical momentum, if PEPE breaches this range and closes a daily candle above the $0.0000074 level, there is a strong possibility that it could soar by 40%, reaching $0.0000105 in the coming days.

    Despite the recent price gain, the asset is still trading below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that it remains in a downtrend.

    Traders Bullish Outlook

    Data from the on-chain analytics firm Coinglass reveals that bulls are currently dominating the meme coin, as they seem to be strongly betting on the long side. PEPEโ€™s exchange liquidation map shows that $0.00000693 and $0.00000735 are key levels where traders holding long and short positions are over-leveraged.

    Source: Coinglass

    Currently, they have $1.80 million worth of long positions and $615K worth of short positions. This data clearly showcases that bulls are strong and appear to be supporting the meme coinโ€™s continued upside momentum.

    Show More

    Related Articles

    Back to top button