As anticipation builds for a better October, frog-themed meme coin Pepe (PEPE) could be one of the first cryptos to gain. Nicknamed “Uptober,” the historically bullish month appears to be coming at the right time for PEPE’s price.
Recently, PEPE’s price hit $0.0000078 after a quick 8% increase in the last 24 hours. The Market Value to Realized Value (MVRV) Long/Short Difference improved, indicating long-term holders are gaining. Historically, this is a bullish sign.
Another indicator supporting this move is Bull Bear Power (BBP), which shows buying strength outweighs selling strength. On a 4-hour PEPE/USD chart, the BBP is above the 13 EMA line, suggesting further price appreciation into October.
The daily PEPE/USD chart also presents a bullish picture, with a breakout above the 20-day EMA confirming an uptrend. PEPE might rally by 50% to hit $0.000011 by October. However, caution is advised as a drop below the EMA could reverse this prediction.
