Frog-themed meme coin Pepe (PEPE) price has surged by 40% in the past week, aligning with broader market trends.
However, the recent PEPE price hike faces significant resistance at the $0.000011 to $0.000012 level, where 8.62 trillion tokens worth $95 million are out of money. This creates a sell wall that could hinder further gains.
The Relative Strength Index (RSI) signals that PEPE is overbought, suggesting that the token might face a price decline. The RSI readings above 70.00 indicate overbought conditions.
Despite current optimism, analysts predict PEPE’s price might struggle to reach $0.000015 and may need to maintain support at $0.000010 to avoid dropping to $0.0000095 or even $0.0000084 in a bearish scenario.
