CandleFocus Pepe signals further gains on demand resurgence: What’s next for PEPE price?
2024-10-30
Author: Content Editor
The cryptocurrency market is set to end October with significant gains, driven by Bitcoin's rise to multi-month highs of $73,554. This has also led to gains in the altcoin market, including the meme token PEPE, which has seen a buyer resurgence and potential for another uptrend. On-chain stats and technical indicators suggest a buying momentum resurgence, as selling pressure weakens. Large-scale investors have shown increased interest in PEPE, with whale transfers surging by 293% in a day. The profitability and increased investor optimism could attract more investors and support solid uptrends for the altcoin. Technical indicators and on-chain data support continued upswings for PEPE, with the potential for it to flip the nearest resistance and see extended gains. However, failure to capitalize on improved sentiments could result in sellers dominating and a decline in PEPE's price. The broader market performance, particularly the upcoming US elections, will determine PEPE's trajectory in the near future.
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