SUNPEPE Memecoin TRON Price Prediction

Bittime - SUNPEPE (SUNPEPE) is the largest Pepe meme token on the TRON blockchain, created to bring fun, sunshine and love to the crypto community. 

Since its launch, SUNPEPE has received widespread attention, especially after its significant price increase in the last 24 hours.

Crazy SUNPEPE Price Increase 

SUNPEPE price surged 315% in the last 24 hours, trading at $0.002941 at 10:50 p.m. EST. 

SUNPEPE trading volume also increased by 59% to $6.9 million, indicating strong market interest in this token. 

This price increase was triggered by the listing of SUNPEPE on the Bitmart crypto exchange on August 21, with the SUNPEPE/USDT trading pair starting at 9 am UTC.

SUNPEPE in Trending Tokens List 

With its market capitalization continuing to increase, SUNPEPE is now among the most discussed cryptocurrencies, as reported by CoinMarketCap. 

This shows high interest from investors who want to take part in the potential profits that can be generated from this token.

Read also: What is SUNPEPE Coin? Funny Memecoins on the TRX Blockchain

Technical Analysis: SUNPEPE is in a Bullish Trend 

Source: TradingView

The SUNPEPE/USD chart on the 4-hour timeframe shows a dramatic and rapid increase in price, characterized by a parabolic curve. 

This pattern usually signals strong bullish sentiment and aggressive buying, but also carries the risk of a sharp correction. 

Prior to this parabolic rise, the price consolidated within the support zone, forming a strong base for the upward movement.

After the price started to rise, it managed to break through the initial resistance level around $0.0020, which previously marked a top. This breakout pushed the price higher, reaching around $0.003672. 

However, when approaching the $0.0040 level, there is a natural drop in price after a sharp increase like this. This level is now the key resistance that determines the next price move.

RSI and MACD Indicators: Potential Signals for Correction 

SUNPEPE's Relative Strength Index (RSI) is currently at level 84.61, which indicates that this asset is in an overbought condition. This indicates that the price may experience a correction or at least a period of consolidation. 

The MACD indicator also shows strong bullish momentum, with the MACD line well above the signal line and a positive histogram. 

However, a sharp rise in the MACD line could also signal that the momentum is too much, in line with overbought conditions on the RSI.

SUNPEPE Price Prediction: Next Direction 

SUNPEPE price is showing a strong upward movement, driven by huge market enthusiasm. However, this parabolic rise is unlikely to be sustainable without a correction. 

The key resistance level at $0.0042 will determine whether this rally can extend to new highs in the next few weeks, with a target of $0.0072.

If the price fails to break through this resistance, a drop back to the support zone around $0.0022 or lower is likely. 

Given the overbought conditions and parabolic nature of this rally, traders should exercise caution, anticipating potential volatility and a possible correction.

Conclusion 

SUNPEPE as the biggest memecoin on TRON has shown extraordinary performance in the last few days. However, investors should be wary of a potential correction after this dramatic rise. 

Understanding technical analysis and market indicators will be very important in determining your next investment steps in this token.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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