Date: Mon, Jan 20, 2025, 05:04 AM GMT
The cryptocurrency market is witnessing volatility as Donald Trump’s inauguration day arrives. While two new Trump-family-backed memecoins—Official Trump (TRUMP) and Melania Meme (MELANIA)—are enjoying bullish rallies, other top memecoins are under pressure. Pepe (PEPE), in particular, has taken a hit, declining over 13% today to trade around $0.00001573.
Source: Coinmarketcap
Despite this decline, market analysts suggest there may be a silver lining for PEPE holders. According to a fresh analysis by crypto expert @ChandlerCharts, the current dip could signify an ideal buying opportunity for investors.
Analyst Insights
Crypto analyst @ChandlerCharts has identified a potential momentum shift for PEPE based on its 4-hour chart, which shows a classic bullish divergence. This pattern occurs when the price forms lower lows, but the Relative Strength Index (RSI) shows higher lows—often a precursor to a price reversal.
PEPE 4H Chart / Source: @ChandlerCharts (X)
The chart reveals a bullish divergence, with lower price lows (indicated by yellow arrows) paired with higher lows in the RSI—a potential signal of an upcoming price recovery. Notably, similar RSI divergences observed in November and December 2024 preceded significant upward moves for PEPE, hinting that history could repeat itself.
If momentum builds, PEPE might target a rebound to key resistance levels around $0.000022, with $0.000028 serving as the next critical barrier.
What’s Next for PEPE?
The bullish divergence on PEPE’s chart suggests that a shift in momentum might be underway. If this pattern plays out, PEPE could stage a recovery in the short term. Investors should monitor for confirmation of the trend reversal, such as a breakout above immediate resistance levels. However, caution is warranted, as a failure to maintain RSI support could lead to further declines.
While attention is currently focused on TRUMP and MEME tokens, market sentiment can quickly pivot back to PEPE, especially if technical indicators align with a broader recovery. Historical patterns and the current setup indicate that PEPE may have a rebound opportunity ahead, making it a token to watch closely.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
