Is Pepe Coin Price Set to Overtake Shiba Inu? Experts Predict a Surge
Highlights
- A crypto analyst has predicted that Pepe coin price faces a perfect storm.
- He expects its market cap to grow from $7.3 billion to over $50 billion.
- Pepe could flip Shiba Inu and become the second-biggest meme coin.
Pepe coin price climbed on Tuesday as the cryptocurrency market rebounded, with Bitcoin surging from $88,000 to nearly $97,000 ahead of the U.S. inflation report. A crypto analyst forecasted further gains, suggesting Pepe could surpass Shiba Inu to become the second-largest meme coin, fueling optimism among traders and investors.
Pepe Coin Price Could Surge And Flip Shiba Inu
The Pepe coin price dropped to a low of $0.000015 on Monday as Bitcoin and most altcoins dived amid the soaring US and global bond yields.
However, one crypto analyst argues that the coin faces a perfect storm that could push it to a record high and flip Shiba Inu. He pointed to the symmetrical triangle pattern the coin has formed on the weekly chart.
The analyst also expects the upcoming Ethereum price rebound as a key catalyst for Pepe. Some analysts have predicted that it is just a matter of time before the ETH price jumps and hits the crucial resistance at $5,000. He expects Pepe’s market cap to get to $50 billion in this bull run.
Pepe coin price outperformance has helped to narrow its market cap with Shiba Inu. It now has a market cap of over $7.2 billion compared to SHIB’s $12.6 billion. If SHIB stayed stagnant, it means that Pepe needs to rise by 75% to cross its valuation.
Pepe Price Technical Analysis: Could It Hit ATH?
Pepe’s daily chart is sending mixed signals on the next price action. On the positive side, the coin has retested the important support level at $0.00001716, the upper side of the cup and handle pattern that formed between March and November 2024. A break out and then a retest is usually a good continuation sign.
The other positive sign is that the value of Pepe may have formed a triple-bottom pattern whose neckline is at $0.00002826. The coin has failed to drop below that level three times and instead formed two false breakouts,
Further, Pepe coin price remains above the 100-day moving average. Therefore, if these positives work, the coin may rebound and retest the 2024 high of $0.00002826, up by 65% above the current level.
On the other side, Pepe coin price has formed what looks like a head and shoulders pattern with a neckline is at $0.00001713. A H&S pattern is one of the few bearish chart patterns. If this happens, the next point to watch will be at the psychological point at $0.000010, down by 42% below the current level.
Frequently Asked Questions (FAQs)
1. Can Pepe coin price rise and flip Shiba Inu in terms of market cap?
2. What are some of the bullish Pepe price forecasts?
3. What are the risks to the Pepe coin token?
- CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP
- Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage
- CleanCore’s Dogecoin Treasury Pays Off Big With $20M Gains as Holdings Near 1B DOGE
- Crypto Market Crash: $700M Liquidated in Bitcoin, ETH, XRP, SOL, DOGE, XPL
- GraniteShares 3x XRP ETF Can Trigger ‘Panic Buying XRP’ Says Expert
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
