PEPE, one of the most popular memecoins of recent times, gained upward momentum with the listing of the crypto exchange Kraken on the US side.
US presidential electionThe winner, Donald Trump, brought about sharp rises in the cryptocurrency market. Especially the increase in memecoins did not go unnoticed. Sharing a post on X (formerly Twitter) on November 6, Kraken stated that PEPE was ready for trading for US customers. Continuation of Memecoin trend, rising market and Kraken’s listing move PEPEIt brought more to the fore. Popular, increasing by 19 percent in the last 24 hours memecoinLooks like it will leave its mark on the bull season.
https://twitter.com/krakenpro/status/1854194830689128825
PEPE technical analysis
Looking at the weekly charts, PEPE price action signals a bullish flag formation. The pole part of the flag formation was formed during the bull run in early 2020 and reached ATH at $0.00001722 in May.
After this peak, PEPE entered a falling channel formation. However, the market’s rise following Donald Trump’s victory in the US presidential election has pushed the popular memecoin upwards.
Memecoin, which rose 25 percent this week to over $0.000010, is approaching an upward breakout. As the possibility of a bullish rally increases, the MACD and signal lines are preparing for a positive crossover.
The last positive crossover on the weekly MACD indicator occurred in the bull market at the beginning of 2024 and led to an increase of nearly 1000 percent. The bullish flag pattern based on Fibonacci levels indicates that the trend is ready to test the 23.60 percent Fibonacci level of $0.00001171.
