PEPE Price Forecast: What Next after 65% Gains in 10-days

PEPE price reached a daily timeframe peak of $0.000008 on April 28, marking a 65% increase over the last 10-days. Having outperformed the market trends in the second half of April, can PEPE bulls sustain the upward trajectory and erase another zero in the week ahead?

PEPE Outperformed the Market with 65% Gains in 10-days

The cryptocurrency market has been under sideways action for the past two weeks reflecting an uncertain investor sentiment around Bitcoin Halving.

While the BTC price is still wavering around the $63000 mark, the Frog-themed memecoin Pepe outperforms this general sentiment to show a notable upswing in the daily chart.

From the swing low of $0.0000046, the PEPE coin price rebounded 65% to currently trade at $0.0000076. Amid the rally, the bulls pulled off a decisive breakout from the 20-day SMA price resistance at $0.0000063, signaling higher growth potential.

Will Pepe Coin’s Recent Breakout Lead to a 45% Surge?

On April 23rd, the Pepe coin price gave a decisive breakout channel pattern for the daily chart. A breakout from this chart pattern signals the maturity of a downtrend and a renewed recovery sentiment among traders.Currently, the lack of bullish momentum and impactful support of trading volume, the breakout rally stagnates above the broken trendline. However, the intraday growth of 3.75% forms a bullish engulfing candle, changing the dynamics quickly in favor of bulls.

Considering the overall market recovery aligns the timing with the PEPE breakout rally, the meme coin could hit the $0.0000108 mark, accounting for a 45% rise.

On the flip side, a bearish pivot could throw the PEPE valuation under the $0.00000663 support.

However, as the broader market continues to witness overhead supply, the PEPE price has shown a lack of follow and consolidation for the past six days.