Pepe (PEPE), the world’s third-largest meme coin, is making waves in the cryptocurrency community for its impressive performance amidst a bearish market. Despite Bitcoin (BTC), Ethereum (ETH), and XRP experiencing price declines on March 8, 2025, Pepe has managed to soar by 7.5% in the past 24 hours, trading near $0.0000073.
The current price momentum of Pepe is attracting attention, with a 60% surge in trading volume indicating heightened interest from traders and investors. The meme coin is now at the upper boundary of its consolidation range, hinting at a potential breakout. According to CoinPedia’s technical analysis, Pepe is trading within a narrow zone between $0.0000064 and $0.00000738. However, the recent price surge suggests that Pepe is on the brink of breaking out of this pattern.
If Pepe manages to breach the $0.0000074 level and close a daily candle above it, there is a strong possibility of a 40% price increase, reaching $0.0000105 in the near future. Despite the recent gain, Pepe is still trading below the 200 Exponential Moving Average (EMA) on the daily timeframe, signaling a continued downtrend.
Traders are displaying a bullish outlook on Pepe, with data from on-chain analytics firm Coinglass revealing that bulls are dominating the meme coin. Key levels at $0.00000693 and $0.00000735 show that traders holding long positions outweigh those holding short positions, with $1.80 million worth of long positions compared to $615K worth of short positions. This data indicates strong bullish sentiment and support for Pepe’s upward momentum.
In conclusion, Pepe’s impressive performance in the face of market volatility is catching the attention of the cryptocurrency community. With the potential for a breakout and strong bullish sentiment from traders, Pepe’s price action is one to watch in the coming days.