Can PEPE Price Surge Any Higher? Technical Indicators Indicate Pullout?
PEPE or Pepe Coin is moving up like a rocket to the moon as the PEPE price has doubled to the value it had two weeks ago. In these two weeks, the PEPE price has formed multiple peaks, one higher than the previous, creating numerous new all-time high records. This is the first time PEPE has surged this much, creating a distinct hype around it. So, is it the end, or this meme coin can rise any higher?
Analyzing The PEPE Price Performance
At the time of writing, the PEPE price is at $0.00001681 and is moving away from its newest all-time high record of $0.00001683, created just a few hours ago after breaking the previous all-time high record of $0.00001577, set yesterday. PEPE is not any Dog-based meme coin but a frog-inspired cryptocurrency launched last year to create profits for its holders.
PEPE proved its reason for existence by setting a huge peak right after its launch, then another one at the start of the year, and numerous in May only. Overall, PEPE has surged 29476% since its launch. Out of which, this month is responsible for 136% gains, and the last week is for 77% gains.
The improvements aren’t only its price as PEPE has moved to 19th position on CoinmarketCap for its market capitalization of $7.09B. Moreover, the number of address holdings has also increased with raised demand.
Will PEPE Price Surge or Decline Next?
The market is still bullish for PEPE as the buying demand is much higher for PEPE. The Relative strength index (RSI) indicates the overbuying zone fueling its rice rally with constant gains. Moreover, the technical indicators, including MACD and the historic volatility index, display a bullish trend.
Up to now, PEPE price has revealed short-term as well as long-term growth potential. The value can increase multiple folds with the upcoming post-halving rally and the altcoin season. Many analysts have claimed to see the PEPE price surge at least 10 -15 times this year to reach the target of $0.0002 by 2025.
The investors are also calling for PEPE, but the expectation is higher than ever.
I’ve been waiting patiently, confident that $pepe would grow and reach at least $30B. But I was wrong—$pepe can go even higher. Now, $69B doesn’t seem out of reach.
I know, I’m a dreamer, but I’m not the only one!
Buy $pepe and make your dreams come true. 💚🐸 pic.twitter.com/QvxnfWsC1T
— Pebre.eth (@P3bR3) May 25, 2024
Final Thought
PEPE price growth this year is the highest among any other cryptocurrency. It even has left behind Bitcoin, which has surged to above $70K, aiming for its all-time target of $73,750.07. With the fear of PEPE repeating its last year’s history, the investors are still bullish on PEPE and are buying more even at this high price. It must see how PEPE can mold its image in the crypto market in a few days and weeks.
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