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- An analyst predicts Pepe Coin (PEPE) could surge over 300% in Q4, setting a new all-time high.
- Growing Open Interest signals increased trader confidence in a major PEPE breakout soon.
On-chain data and technical analysis show that Pepe Coin (PEPE) is getting a positive sentiment. Captain Faibik, a popular analyst, just shared a daily chart of Pepe Coin, stressing the fact that its price remains within a Symmetrical Triangle pattern.
$PEPE Looks Primed for another +300% Bullish Rally in Q4..🔥🚀#Crypto #PEPE #PEPEUSDT pic.twitter.com/g4rSRkDaC8
— Captain Faibik 🐺 (@CryptoFaibik) August 26, 2024
Predicted Over 300% Surge for PEPE in Q4 Bullish Rally
According to Faibik, PEPE appears to be on track to increase by more than 300% during a bullish rally forecast in the fourth quarter of this year, potentially reaching a new all-time high.
Also, as we previously reported, renowned trader Bluntz echoes the optimism surrounding PEPE, drawing parallels between Pepe Coin’s present technical pattern and Bitcoin’s (BTC) price behavior in early 2023, when BTC was trading at $16,000 before skyrocketing to its last ATH.
This deja vu moment, as Bluntz describes it, signals that PEPE is on the verge of a huge breakout, similar to BTC’s recent performance.
In addition to these bullish perspectives, CoinGlass data shows that Open Interest (OI) in Pepe Coin has increased over the last ten days and now stands at $104.45 million. This increased interest suggests that traders are banking more on a large price movement for PEPE in the near future.
PEPE is currently trading at about $0,000008568, down 4.5% over the last 24 hours, with a daily trading volume of $620.24 million. Despite the recent decline, technical and on-chain indications continue to support a positive overall sentiment.
On the other hand, FLOKI, Pepe Coin’s rival, has also performed admirably. CNF recently noted that FLOKI has been steadily rising over the past seven days, following Binance’s announcement of the Simon’s Cat token airdrop for FLOKI holders.
According to another prominent analyst, Floki Inu is on the cusp of a big breakout, which might result in a 200% increase in its most recent bullish wave.
