{"id":645315,"date":"2024-09-29T18:30:31","date_gmt":"2024-09-29T18:30:31","guid":{"rendered":"https:\/\/ktsl888.com\/?p=645315"},"modified":"2024-09-29T11:55:33","modified_gmt":"2024-09-29T11:55:33","slug":"pepe-confirms-breakout-from-symmetrical-triangle-how-far-can-it-go","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/pepe-confirms-breakout-from-symmetrical-triangle-how-far-can-it-go\/","title":{"rendered":"PEPE Confirms Breakout From Symmetrical Triangle: How Far Can It Go?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Meme coin PEPE has been on an impressive rally for some time now. Stemming from a broader influx of funds into the meme coin sector and the overall cryptocurrency market that has been in motion for the past two weeks, PEPE is currently up by 38% in the last seven days, outperforming its meme coin counterparts with larger market caps.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/uni-surges-30-amid-ongoing-on-chain-development-talks\/\" target=\"_blank\" rel=\"noopener \">UNI Surges 30% Amid Ongoing On-Chain Development Talks<\/a><\/div>\n<p><span style=\"font-weight: 400\">Interestingly, this impressive price action has seen PEPE <\/span><a href=\"https:\/\/ktsl888.com\/analysis\/pepe\/pepe-faces-potential-1-37-drop\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">breaking out of a downtrend pattern<\/span><\/a><span style=\"font-weight: 400\"> that has lasted for the past six months. This significant development was highlighted on the social media platform X by well-known crypto analyst Captain Faibik. <\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the analyst, PEPE&#8217;s price action has resulted in an upward breakout from a symmetrical triangle pattern, a technical formation that has been dictating its consolidation period for half a year.\u00a0<\/span><\/p>\n<h2><b>Breakout From 6-Month Consolidation Pattern<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Using a PEPE \/ Tether US chart <\/span><a href=\"https:\/\/x.com\/CryptoFaibik\/status\/94684240\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">shared on social media <\/span><\/a><span style=\"font-weight: 400\">platform X, Captain Faibik highlighted PEPE&#8217;s price action since the beginning of the year. The chart showed that since it reached its all-time high of $0.00001717 on May 27, 2024, PEPE has yet to return to this price point. Periods of rallies have been characterized by the formation of lower highs and higher lows, leading to the formation of a symmetrical triangle pattern.<\/span><\/p>\n<p><span style=\"font-weight: 400\">PEPE&#8217;s recent 38% rally has seen the meme coin break out substantially from the upper resistance trendline of the symmetrical triangle. From this point, the only place left to go is up.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-645316\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/a_8c21a2.png?resize=566%2C260\" alt=\"\" width=\"566\" height=\"260\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/a_8c21a2.png?w=566 566w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/a_8c21a2.png?w=460 460w\" sizes=\"(max-width: 566px) 100vw, 566px\"><\/p>\n<h2><b>Analyst Predicts 351% Surge To New ATH<\/b><\/h2>\n<p><span style=\"font-weight: 400\">With the breakout confirmed, Captain Faibik has set a bullish price target for PEPE. In terms of a price target, Captain Faibik noted that PEPE is now clear for a rally to a new all-time high. Specifically, he predicted a rally to a price target of $0.00003214.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Getting to this price point would necessitate PEPE stepping into new price territories. Furthermore, the price target means PEPE would need to surge by an impressive 351.69% from its breakout point. Given the meme coin&#8217;s recent history, such a price surge is very possible, especially as the crypto industry is now transitioning into a <\/span><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-price-forecast-q4-outlook-indicates-parabolic-move-toward-120000\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">predicted bullish fourth quarter<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/lXccIZRo\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">PEPE market cap currently at $4.7 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">As always with meme coins, extreme volatility and rapid price changes are expected. This is because<\/span><a href=\"https:\/\/bitcoinist.com\/meme-coin-season-solana-tokens-pump-fun\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\"> investments in meme coins<\/span><\/a><span style=\"font-weight: 400\"> largely depend on the general sentiment among cryptocurrencies like Bitcoin, Ethereum, and sometimes Dogecoin (the king of meme coins).\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/xrp-set-to-soar-nearly-900-to-31-analyst-highlights-key-resistance\/\" target=\"_blank\" rel=\"noopener \">XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance<\/a><\/div>\n<p><span style=\"font-weight: 400\">At the time of writing, PEPE is trading at $0.00001125, still on a 38% gain throughout last week. Other meme coins are on comparable gains in this time frame. <\/span><a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-new-all-time-high\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Shiba Inu (SHIB)<\/span><\/a><span style=\"font-weight: 400\"> is up by 32%, <\/span><a href=\"https:\/\/ktsl888.com\/meme-coin\/dogwifhat-rally-1600-jump\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Dogwifhat (WIF)<\/span><\/a><span style=\"font-weight: 400\"> rose by 33%, Bonk (BONK) climbed by 30%, and Floki (FLOKI) added 23%. <\/span><\/p>\n<p><a href=\"https:\/\/ktsl888.com\/news\/dogecoin\/dogecoin-could-target-0-20-soon-analyst-predicts-is-doge-primed-for-a-rally\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Dogecoin (DOGE),<\/span><\/a><span style=\"font-weight: 400\"> on the other hand, is up by a smaller 17% in the past seven days. These gains could continue into the coming week as the market remains bullish.<\/span><\/p>\n<p><em>Featured image from Rolling Stone, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meme coin PEPE has been on an impressive rally for some time now. Stemming from a broader influx of funds into the meme coin sector and the overall cryptocurrency market that has been in motion for the past two weeks, PEPE is currently up by 38% in the last seven days, outperforming its meme coin counterparts with larger market caps. Related Reading: UNI Surges 30% Amid Ongoing On-Chain Development Talks Interestingly, this impressive price action has seen PEPE breaking out of a downtrend pattern that has lasted for the past six months. This significant development was highlighted on the social media platform X by well-known crypto analyst Captain Faibik. According to the analyst, PEPE&#8217;s price action has resulted in an upward breakout from a symmetrical triangle pattern, a technical formation that has been dictating its consolidation period for half a year.\u00a0 Breakout From 6-Month Consolidation Pattern Using a PEPE \/ Tether US chart shared on social media platform X, Captain Faibik highlighted PEPE&#8217;s price action since the beginning of the year. The chart showed that since it reached its all-time high of $0.00001717 on May 27, 2024, PEPE has yet to return to this price point. Periods of rallies have been characterized by the formation of lower highs and higher lows, leading to the formation of a symmetrical triangle pattern. PEPE&#8217;s recent 38% rally has seen the meme coin break out substantially from the upper resistance trendline of the symmetrical triangle. From this point, the only place left to go is up. Analyst Predicts 351% Surge To New ATH With the breakout confirmed, Captain Faibik has set a bullish price target for PEPE. In terms of a price target, Captain Faibik noted that PEPE is now clear for a rally to a new all-time high. Specifically, he predicted a rally to a price target of $0.00003214.\u00a0 Getting to this price point would necessitate PEPE stepping into new price territories. Furthermore, the price target means PEPE would need to surge by an impressive 351.69% from its breakout point. Given the meme coin&#8217;s recent history, such a price surge is very possible, especially as the crypto industry is now transitioning into a predicted bullish fourth quarter. As always with meme coins, extreme volatility and rapid price changes are expected. This is because investments in meme coins largely depend on the general sentiment among cryptocurrencies like Bitcoin, Ethereum, and sometimes Dogecoin (the king of meme coins).\u00a0 Related Reading: XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance At the time of writing, PEPE is trading at $0.00001125, still on a 38% gain throughout last week. Other meme coins are on comparable gains in this time frame. Shiba Inu (SHIB) is up by 32%, Dogwifhat (WIF) rose by 33%, Bonk (BONK) climbed by 30%, and Floki (FLOKI) added 23%. Dogecoin (DOGE), on the other hand, is up by a smaller 17% in the past seven days. These gains could continue into the coming week as the market remains bullish. Featured image from Rolling Stone, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":645326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,83767,88145,4735,3505],"class_list":["post-645315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-meme-coins","tag-pepe","tag-price-action","tag-price-analysis"],"acf":[],"yoast_head":"\n<title>PEPE Confirms Breakout From Symmetrical Triangle<\/title>\n<meta name=\"description\" content=\"Meme coin PEPE has been on an impressive rally for some time now. 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