Pepe (PEPE), the world’s third-largest meme coin, is gaining important consideration from the crypto group attributable to its spectacular upside momentum regardless of the continuing bearish market sentiment. On March 8, 2025, whereas prime belongings like Bitcoin (BTC), Ethereum (ETH), and XRP are witnessing worth declines, PEPE has defied the market development, registering a powerful 7.5% acquire up to now 24 hours.
Present Worth Momentum
With this spectacular upside momentum, PEPE is at the moment buying and selling close to $0.0000073. In the meantime, its buying and selling quantity has surged by 60% over the identical interval, indicating heightened anticipation from merchants and traders in comparison with the day gone by.
PEPE Worth Motion and Upcoming Ranges
This worth surge has pushed the meme coin to the higher boundary of its consolidation vary, positioning it for a possible breakout. In response to CoinPedia’s technical evaluation, PEPE is buying and selling inside a slim zone between $0.0000064 and $0.00000738. Nonetheless, with right this moment’s worth surge, the meme coin is on the verge of breaking out of this sample.
Primarily based on latest worth motion and historic momentum, if PEPE breaches this vary and closes a each day candle above the $0.0000074 stage, there’s a sturdy chance that it might soar by 40%, reaching $0.0000105 within the coming days.
Regardless of the latest worth acquire, the asset continues to be buying and selling beneath the 200 Exponential Shifting Common (EMA) on the each day timeframe, indicating that it stays in a downtrend.
Merchants Bullish Outlook
Information from the on-chain analytics agency Coinglass reveals that bulls are at the moment dominating the meme coin, as they appear to be strongly betting on the lengthy facet. PEPE’s trade liquidation map exhibits that $0.00000693 and $0.00000735 are key ranges the place merchants holding lengthy and brief positions are over-leveraged.
At the moment, they’ve $1.80 million price of lengthy positions and $615K price of brief positions. This information clearly showcases that bulls are sturdy and look like supporting the meme coin’s continued upside momentum.