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Will PEPE Climb 30% This Week? This Analyst Thinks So

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Traders are becoming drawn to the meme-inspired crypto PEPE, after a technical study by the famous crypto expert World Of Charts shows it has some surprises under its sleeves.

As shown on X, PEPE is forming a positive pennant, which is a common technical sign for big price increases. According to World of Charts, the price of the meme coin could go up by 25 to 30%.

Converging trendlines following a significant price gain, commonly called the flagpole, constitute the bullish pennant, which often indicates a halt before the market continues its upward trajectory.

Pointing out a successful break from this pennant, World of Charts indicated a significant PEPE momentum. This breakout represents a turning point when the token breaks free from the consolidation period inside the convergent trendlines.

PEPE was trading at $0.00001263 at the time of writing, suggesting a 4.60% increase; forecasts show a probable climb to $0.00001600, therefore reflecting a possible jump of up to 27%.

Technical Indicators Display Positive Sentiment

For PEPE, the technical signals a cautiously hopeful picture. Now showing a positive trend, the token is trading above both its 50 EMA ($0.000011) and 100 EMA ($0.00001029). At $0.00001288, it immediately encounters opposition nevertheless.

A good breakthrough of this level may drive PEPE towards all-time highs. On the other hand, should PEPE lose its present momentum and below the 50 and 100 EMAs, prices would perhaps drop to the support level of $0.00000842.

PEPE market cap currently at $5.2 billion. Chart: TradingView

Currently at 56.16, the Relative Strength Index (RSI) points to a neutral to somewhat positive attitude lingering over the middle.

Forecast Highlights Long-Term Possibilities

Over the next seven days, an upswing is expected, thereby reflecting a positive short-term momentum for PEPE. The asset is selling at 228% below its expected value right now, implying notable undervaluation.

For traders hoping to profit on the anticipated price movement, this gap offers a solid buy possibility. Technical signs pointing to rising purchasing pressure and market bullish mood line up with the expected upswing.

PEPE seen climbing in the next seven days. Source: Coincheckup

Reflecting considerable medium-term promise, PEPE’s price is expected to rise by 245% over the next three months in the mid to long term. With a predicted rise of 180% in six months, this growth trajectory keeps on, therefore supporting the asset’s great upward momentum.

Based on a one-year projection, which indicates 166% increase showing long-term value appreciation and continuous optimistic attitude. These forecasts imply that PEPE is likely to show notable increases, so it appeals to both long-term and short-term investors.

Featured image from X/@Aatroxcarry, chart from TradingView





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Will Shiba Inu Price Jump Over 300%? This Analyst Thinks So

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Este artículo también está disponible en español.

Experts are confident that Shiba Inu could potentially undergo a massive price surge on the back of a positive overall outlook on cryptocurrency.

Donald Trump’s victory in the recently concluded US election brings waves of optimism in the cryptocurrency market which SHIB Inu can ride on to propel it to a 306% price hike.

Shiba Inu: Explosive Growth

A market analyst predicted that the price of Shiba Inu could soar by at least 306%, as the entire cryptocurrency market is going on an overdrive excited by the results of the US elections.

In a post, analyst Javon Marks said that it could potentially hit the $0.00081 mark, adding that this price surge is imminent for the meme coin and being forecasted to happen really soon.

“Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target,” Marks said.

Data showed that the meme coin has formed a Hidden Bull Divergence pattern. Reports explained that the Hidden Bull Divergence is a bullish indicator that usually occurs before a price rally happens.

Moreover, analysts said that the cryptocurrency has already breached the consolidation phase which could beef up the bullish outlook for the meme coin.

Shiba Inu-Bitcoin Relationship

Analysts pointed out that there is a relationship between the price movement of Shiba Inu and Bitcoin, saying that any price movement with Bitcoin could also mean price movement for the meme coin.

It is a correlation being monitored by many analysts as Bitcoin prices are soaring on the back of the newfound optimism on the overall crypto market.

SHIB market cap currently at $11.2 billion. Chart: TradingView

In previous reports, analysts discussed that Shiba Inu usually trails the price movement of Bitcoin, showing that there is a strong correlation between the two cryptocurrencies.

They noted that whenever Bitcoin collapsed, the meme coin’s price also went down. Hence, any massive hike in Bitcoin could propel Shiba Inu into exponential growth.

Many market observers are predicting that Bitcoin is on track for a massive price surge and in the last few days, the firstborn crypto has been hitting an all-time high price per coin. Therefore, BTC’s predicted price movement could also push Shiba Inu to its projected price.

$118 Billion Market Cap Seen

Meanwhile, analysts suggested that the market capitalization of Shiba Inu would soar and its price would increase by 950% once the market valuation of the global cryptocurrency reaches the $10 trillion mark.

Source: Bitstamp

Market commentators said that if the $10 trillion market cap happens, the meme coin would be traded at $0.0002 and elevate its market capitalization to $118 billion.

As of writing, the total global market capitalization of the crypto sector is pegged at $2.61 trillion while the current market cap of Shiba Inu is about $11.21 billion.

Featured image from Chewy, chart from TradingView





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Solana Decentralized Exchange Altcoin Skyrockets by More Than 400% on Friday After New Exchange Listing

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A Solana (SOL)-based decentralized exchange (DEX) altcoin surged by more than 5x on Friday after South Korea’s largest crypto exchange rolled out trading support for the asset.

Traders on the Seoul-based Upbit can now purchase and unload DRIFT, the native asset for the Drift Protocol, an open-source DEX that enables transparent and non-custodial trading.

Explains the project’s whitepaper,

“Drift was designed with a goal to be capital-efficient but also protective of your assets. We achieved that by setting up sophisticated cross-margined risk engine – a system of tools with an extensive protection from over-extending risk. For instance:

  • In the lend/borrow markets, you can also use collateral for perpetual futures and trade more efficiently with spot assets.
  • Every token you deposit can earn you more through borrowing and also act as a collateral for perpetual swaps.
  • Borrowers can only borrow if they have more collateral than needed, following multiple safety measures for extra protection.”

DRIFT surged to a new all-time high of $2.60 on Friday, a 400% increase in just 24 hours when it traded at $0.51 on November 8th. The altcoin has retraced since and is trading at $1.98.

The token launched in May and has witnessed multiple bullish catalysts this year. Coinbase rolled out support for DRIFT days after its launch, and the crypto investment firm Multicoin Capital disclosed a sizable position in the asset in September.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Ethereum Rival Solana in All-Time High ‘Waiting Room,’ Says Crypto Analyst – Here’s His Outlook

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A widely followed analyst and trader is leaning bullish on a large-cap altcoin amid a broader crypto market rally.

The analyst pseudonymously known as Pentoshi tells his 809,700 followers on the social media platform X that Solana (SOL) is in the “all-time high waiting room.”

On the weekly time frame, Pentoshi shares a chart suggesting that Solana has formed a double-bottom pattern, a technical analysis structure that’s typically considered bullish as buyers step in to keep an asset from printing new lows.

Image
Source: Pentoshi/X

According to the widely followed analyst, Solana is on the cusp of taking out its resistance at around $204, which has kept SOL bearish since 2022.

“While there could be some short-term resistance ahead, I don’t expect to last too long.

Structurally this looks great, and in my opinion, dips are for buying.

It should be challenging all-time highs this month.”

The analyst also says his long-term target for Solana is a price around 110% above the current level.

“Above $200 and it likely sees all-time highs shortly after. Long-term target $420.69. Not a cent higher.”

Solana is trading at $200 at time of writing, up by around 20% this month.

Turning to the wider altcoin market, Pentoshi says that TOTAL3, which tracks the total market cap of all crypto assets excluding Bitcoin (BTC) and Ethereum (ETH) and stablecoins, is likely to rise by about 14% from the current level.

“Altcoins. I think we will see a breakout in the near future and move back towards the $760 billion mark. It keeps knocking at this and I believe the space got the green light.”

Image
Source: Pentoshi/X

The market cap of TOTAL3 is hovering at $668 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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