Pepe Fork (PORK) surged to a two-month high of $0.00000023 during Thursday's intraday trading session. Although it has since corrected, the meme coin still boasts double-digit gains over the past 24 hours.
Pepe Fork (PORK) price soared to a two-month high during Thursday’s intraday trading session, fueled by a double-digit surge in its value. However, market speculation suggests that PORK’s rally might be short-lived.
PORK Surges, Might Outperform PEPE Soon?PORK enjoyed a two-month high on Thursday, with its price surging by double digits. This upswing sparked market speculation about whether PORK could soon outperform Pepe (PEPE) in the short term.
“$PORK 24-hour volume is just $0.5M less than $PEPE, yet PEPE’s market cap is 64x that of PORK. You really think PORK won’t flip PEPE again? It’s not a question of if. It’s when,” crypto trader Alex Gomez pointed out on X.
Another X user also highlighted the comparison between PORK and PEPE’s 24-hour trading volumes, urging the market to “study” PORK.
PORK enjoyed a strong rally on Thursday, as evidenced by the upper bands of its Bollinger Bands indicator widening during the price surge. This indicator is used to identify potential overbought or oversold conditions in an asset’s price movements.
The upper and lower bands of the Bollinger Bands indicator represent the higher and lower ranges of an asset's price movements, respectively. A widening gap between these bands indicates increased market volatility.
Moreover, PORK's Average True Range (ATR) also surged during this period. The ATR is a technical indicator that measures the degree of price volatility. It is used to identify the average range of an asset's price movements over a specified period of time.
An increasing Average True Range (ATR) indicates that an asset’s price is experiencing massive fluctuations. This suggests that the asset is at risk of further price swings, highlighting the potential for continued volatility in the near term.
PORK Price Prediction: Meme Coin To Experience Further CorrectionPORK’s momentum indicators also pointed towards a further correction in the meme coin’s price. On Thursday, PORK’s Relative Strength Index (RSI) reached an overbought level of 88, signaling a potential pullback.
However, by press time, the RSI had dropped to 64.89, indicating that buying pressure remained high, albeit with some selling activity beginning to take hold.
PORK’s price is expected to continue decreasing as buying momentum weakens, with the next price target being $0.00000012. If new demand pushes up the altcoin’s price further, it could reach a maximum of $0.00000017.
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