Top Meme Coin Pepe Price Action Hints At Next 100% Upside
The post Top Meme Coin Pepe Price Action Hints At Next 100% Upside appeared first on Coinpedia Fintech News
With the markets taking a leap of recovery this week, the meme and AI coins are quick to capitalize on the positive sentiments. Amidst this relief, the PEPE price shoots up and presents a positive cycle with a breakout opportunity.
As investors are anticipating a new bullish surge in the top meme coins, the PEPE price stands as a high-potential candidate. Will this breakout lead PEPE to $0.0010 in 2024? Find out more in our PEPE price prediction.
PEPE Price Performance
Based on a frog-themed meme infamous on Reddit, PEPE has sustained an uptrend since its inception. With a $3.23 Billion market cap, PEPE stands amongst the top meme coins.
Further, with the ongoing recovery rally and the rising hype and FOMO, the PEPE could soon skyrocket to a new all-time high. This month, the PEPE price has increased by 181% despite a 28% pullback from its all-time high of $0.00001083.
Currently, the PEPE price shows a consolidation range with the overhead ceiling at $0.00000850. However, the buyers are preparing for the second breakout attempt as the altcoins take support on the baseline of Bollinger bands.
Despite a sideways track, the PEPE meme coin projects immense underlying demand and teases a bullish breakout. This is evident from the higher high formation and the bullish barricading at the $0.0000850 mark, avoiding any drops.
Technical Indicators:
Bollinger bands: In the 4H timeframe, the prolonging lateral movement in PEPE price leads to a contraction in the Bollinger bands. Hence, as more and more trend momentum coils up, the possibility of a huge breakout move increases.
RSI: The daily RSI line fluctuates near the halfway line but continues to test the overbought boundary. Hence, a stronger bullish side is evident in the momentum indicator.
Will PEPE Hit A New ATH?
If the positive cycle leads to a bullish range breakout, the PEPE price surpassing $0.0000085 might challenge the psychological mark of $0.000010. Further, with Bitcoin’s highly anticipated bull run with the Bitcoin Halving in April, the meme coin price could take off from $0.000010.
Hence, if BTC heads closer to $100K potentially, the PEPE price might reach $0.000015, accounting for an almost 100% surge.
