$PEPE Coin Price Eyes 45% Gains as $ETH Burns Surge 163% - CoinGape Analytics

Irma - Sep 26 - - Dev Community

Pepe Coin is gaining attention as its price turned bullish, breaking out of a bullish continuation pattern linked to Ethereum (ETH). The correlation between PEPE and ETH could push Pepe Coin's price higher, driven by increased Ether burns. Data shows PEPE has a 60-day correlation of 0.92 with ETH, compared to 0.84 with Bitcoin.

The rise in Ether burns aligns with Ethereum’s price increase, and if ETH continues to rise, Pepe Coin could benefit. PEPE has already gained 7% in the last 24 hours, currently trading at $0.000009.

Technically, PEPE is recovering from a downtrend, breaking out of an ascending triangle pattern. With key resistance at $0.000001269, PEPE may surge by 45.15%. If it falls below $0.00000080, it could turn bearish, with support at $0.00000070.

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