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Crypto analyst Crypto Inside has provided a bullish outlook for the PEPE meme coin. The analyst predicted that it could witness a 150% surge as it looks to grab the liquidity above its current range.
PEPE Eyes Rally To $0.000025 In Bid To Grab Liquidity Above
In a TradingView post, Crypto Inside shared an accompanying chart in which he predicted that PEPE could jump to as high as $0.000025 following its reclaim of the $0.000010 support zone. He explained that this price surge could occur because there is currently more liquidity above than below.
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The chart showed that there is a total sell liquidity of 10,678.659 trillion around this $0.00025 range. Meanwhile, the total buy liquidity for PEPE below its current crucial support zone is 6,827.768 trillion. It is worth mentioning that a rally to $0.000025 will bring the meme coin close to its current all-time high (ATH) of $0.00002825.
Crypto Inside touched on the meme coin’s liquidity depth. The analyst stated that the price moves from one liquidity to another and that this is the meme coin’s fuel. He remarked that there is significantly more of this fuel accumulated at the top, alluding to the sell liquidity.
The analyst added that PEPE has always been a highly speculative asset, and during prolonged one-sided movements, extremely high funding is formed in it. This, he noted, provokes sharp jumps in price.
Crypto Inside also commented on the current PEPE price action. He noted that the meme coin has now reached the largest zone of interest at $00.0000817 and is trying to consolidate there. He remarked that this is a powerful level around which consolidation can be expected before further growth. However, he warned that if the PEPE price falls below it without the possibility of returning, it will be an extremely bearish signal.
The Meme Coin’s Narrative Is Still Strong
As part of his analysis, Crypto Inside suggested that PEPE’s narrative is still strong, which is why the meme coin still has a chance to reach new highs. He explained that the narrative itself is still important in meme coins and that PEPE is an “eternal meme,” which will live forever. He added that it is the embodiment of meme culture in the world.
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The analyst assured market participants that there is no need to fear PEPE’s oblivion. He declared that it will definitely not die as a narrative and that there is nothing to worry about. However, he admitted that new meme coins like Fartcoin have stretched liquidity across the market, and many have left PEPE for “new shiny things.”
At the time of writing, the PEPE price is trading at around $0.00001056, over 11% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Medium, chart from Tradingview.com