PEPE memecoin is approaching a “buy the dip” level, as it nears the 50% Fibonacci retracement, according to InvestingHeaven. A breakout on either side is possible, and if it closes a daily candle above $0.0000111, PEPE could soar by 20% to hit the $0.0000132 level in the coming days.
On-chain metrics also support the bullish outlook for PEPE, as its Long/Short ratio is above 1, indicating strong bullish sentiment among traders. The asset is currently forming a symmetrical triangle price action pattern on its daily chart, following a breakout from the descending trendline. The asset is currently trading near $0.00001024, with a rise of 1.5% over the last 24 hours.
