These 3 PEPE charts will help answering the question “how to know whether the breakout in PEPE is confirmed.”
Related – Which Meme Coin To Buy In 2024?
Meme coins may be interesting to consider, once in a year or every two years, when there is a narrative dominating crypto markets. PEPE, one of the more popular meme coins, as a trading instrument. Nowadays, some investors tend to join meme coin community for the social (belonging) experience.
At InvestingHaven, we do not encourage investors to take meme coins too seriously.
However, we like the chart of PEPE. That’s why we dedicate this blog post to charting and chart analysis.
Who is PEPE? Where is PEPE?
PEPE is not a person, it is an icon representing the popular meme coin called PEPE.
Unless you have been living in cave or on island disconnected from the internet, you should know that PEPE is one of the more popular meme coins.
in $pepe we trust pic.twitter.com/uWL5RpWmpE
— Pepe (@pepecoineth) February 25, 2024
PEPE has grown into a real community, a global and large community, beyond imagination almost, soon after PEPE’s inception. In April of 2023, when PEPE launched, it went up 100x, creating dreams about 100-baggers.
Related – Debunking Crypto Investing Myths – Finding 100-Baggers Is Far More Difficult Than It Sounds
PEPE price chart
The daily price chart of PEPE is interesting – that’s because it does not look interesting.
Let’s face it, the average person looking at this chart will tell you “there is nothing special about this chart, it’s the most boring chart imaginable.”
A chartist will tell you something very differently – strongly bullish.
Remember – strong uptrends originate from a quiet state. Strong trends come to life in calm conditions. Think Bitcoin, back in October of 2020, before it started its 800% bull run.
That said, the PEPE chart has a chart reversal that is bullish.
Source – Tradingview
Breakout in PEPE happening now
While the previous, not-annotated chart version, may not have been helpful to the untrained eye, the breakout becomes clear when adding 2 very simple trendlines.
The chart says it all – PEPE is trying to break out.
PEPE breakout confirmation
When exactly will the breakout in PEPE be confirmed?
The breakout in PEPE will be confirmed once 3 things happen:
- PEPE moves above the bullish triangle (fine green lines).
- PEPE moves above the 50% retracement level (fine purple line).
- PEPE stays above both levels for at least 8 consecutive days.
Presumably, by the time 8 days will have passed, its price will have moved at least 100% higher compared to current levels.
Meme coins – to buy or not to buy?
While PEPE might be a lucrative trade, we recommend to keep the position open for a short term period of time. Don’t get sucked into the meme narrative as you will miss the take profit opportunity.
Is there any other serious meme coin to consider in 2024?
The answer is ‘yes and no’:
- There is no serious meme coin.
- There is a meme opportunity in 2024.
This is what we wrote in another article:
Now, if there is one, and only one, meme coin to buy in 2024, it it should be this one in the AI space. The crypto AI space is heating up. Consequently, ‘the next Dogecoin’ will come up among AI coins.
In our premium research service, we tipped one AI meme coin (this buy alert requires a log in), one with some 6x to 10x upside potential.
