Is Pepe Coin Price Set to Overtake Shiba Inu? Experts Predict a Surge

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.