Cryptocurrency market has gone through large fluctuations affecting almost every meme coin even PEPE. In the last one week, the value of the Token fell significantly in the double digits attributed to more general PEPE tokens in the relevant market. However, as recent signs point out, a reversal of that trend could well be in the offing.
Having regained some stability around $0.000017 after a bearish range, PEPE climbed momentarily to $0.000018 on the 11th of January. More notably, popular Crypto analyst, Ali Martinez, has also pointed to our recovery in a post on X that discusses technical analysis for movements that would see the price rise.
PEPE Potential Bounce Predicted
If true, Martinez’s forecast is based on Tom Demark (TD) Sequential indicator that helps in determining when a trend is exhausted and most likely to reverse. The tool uses two phases: The first sign is the TD Setup, the second one is the indication of the momentum phases, and the last one is the TD Countdown that reflects possible price exhaustion.
After a sell signal on the indicator was given on January 4, the price of PEPE decreased by 24% reaching $0.0000167 by January. In today’s image, the TD Sequential has given a buy signal for the third largest meme coin suggesting a bounce back. Martinez estimates that if this was the trend then PEPE could be as high as $0.0000185 and $0.0000191, up to 9.88% higher than the current average value.
However, there are some indications of a turnaround, with many, including PEPE, falling 15% over the last week. NFT has been on the rise for the last 24 hours; in fact, it has risen by nearly 2% to around $0.000019 per token as per CoinGecko.
Observers are on the edge of their seats waiting to see whether bullish run of PEPE can be sustained as the cryptocurrency market remains unpredictable. This recovery would be a positive for investors, as they look forward to secure as the erosion of capital is becoming rather frequent these days.
