- PEPE rallies 4% on Saturday, the meme coin could extend gains by over 18%.
- PEPE leads the meme coin rally, Dogecoin and Shiba Inu lag behind.
- The frog-themed crypto could revisit June 2024 highs.
Pepe (PEPE), a frog-themed cryptocurrency that ranks in the top 30 cryptocurrencies by market capitalization, rallied 4% on the day. The meme coin is likely primed for further gains and leads the rally, while top two meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) lag behind.
PEPE could extend gains in double-digits and revisit its June highs, if the meme coin’s rally persists.
PEPE gears up for over 18% gains
Shiba Inu led the comeback of the meme coins with nearly 21% gains on Thursday. PEPE leads the sector on Saturday with 4.45% gains at the time of writing. Dogecoin and Shiba Inu correct slightly on Friday.
PEPE trades at $0.00001118 and the frog-themed cryptocurrency broke out of its multi-month downward trend recently. PEPE could climb another 18.74% to hit the lower boundary of the Fair Value Gap (FVG) between $0.00001323 and $0.00001421.
PEPE faces resistance at $0.00001169, this level has acted as resistance throughout August and early September.
The Moving Average Convergence Divergence (MACD) indicator shows increasingly taller green histogram bars signaling underlying positive momentum in PEPE. The meme coin could break past resistances to hit its June peak of $0.00001577 if it holds on to gains.
PEPE/USDT daily chart
Looking down, PEPE could find support at the 50% Fibonacci retracement of the rally from the April 13 low of $0.00000393 to the May 27 top of $0.00001725.
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