PEPE ( PEPE ) continues to break out - Will the target of 40x become a reality?

The price of Pepe has increased by 17% over the past week, surpassing important resistance levels and attracting market attention. Optimistic analysts predict that this token could grow by 40 times, with the current upward momentum potentially triggering a strong breakout.

PEPE Breaks Important Resistance

In the past week, the 17% increase of Pepe (PEPE) has attracted the attention of analysts and investors.

Thanks to strong price momentum, this token has broken above the important resistance level at $0.0000075, confirming growing interest from the market. The upward trend of Pepe indicates significant growth potential, especially as the bulls drive a breakout in the upward trend.

PEPE/USDT 4-hour chart | Source: TradingViewPreviously, the market experienced a period of high volatility, causing the price of Pepe to drop sharply before recovering strongly. The recent surge not only reflects the market's recovery but also indicates that investor sentiment is gradually shifting towards a more positive outlook for this token.

Currently, investors are watching whether PEPE can maintain its upward momentum after breaking through resistance, while also considering the possibility of a correction in the coming days.

Open contracts in futures and derivatives increase

The latest data on open futures contracts and derivative trading volume shows that market interest in Pepe is increasing significantly.

Pepe's futures rose 8% to $237.90 million, reflecting growing investor participation. This increase has not only boosted demand but also strengthened the bullish prospects of the token.

In addition, the trading volume of derivatives also increased by 16%, reaching 627.05 million USD, indicating that a large amount of money is still flowing into Pepe, reinforcing market confidence.

The increasing level of interest from investors reflects the expectation that the current upward trend will continue. The rise in bets on this asset could drive stronger volatility, while also reinforcing growth prospects in the near future.

Analysts forecast growth to increase 40 times

Furthermore, cryptocurrency experts predict that the price of Pepe will increase significantly, with expectations of a 40-fold growth.

Source: CryptoELITESThis forecast is based on the long-term ascending parallel channel model of PEPE, shared by analyst CryptoELITES.

According to the chart, the price of PEPE has bounced off the support line of the channel and is preparing for a new bullish trend – a pattern that has repeated in the past.

If history repeats itself, PEPE could increase 40 times, reaching the resistance line of the channel at $0.00025.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions.

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