PEPE Price Prediction: Anticipating a 35% Surge to $0.00002
Pepe, the frog-themed meme coin, recently hit a new all-time high of $0.00001717 on May 27 and is showing renewed activity. Over the past 24 hours, it has seen a modest 2.7% increase, reaching $0.00001475 by the end of the European session on Thursday. According to CoinGecko data, PEPE is swiftly approaching the previous all-time high and bullish sentiment is aiming for a breakout to $0.00002.
PEPE is on the Move: What’s Driving the Pump?
The surge in meme coins within the Ethereum and Solana ecosystems has been notable, with some outperforming major altcoins and even Bitcoin. Alongside Pepe’s recent high, Floki also achieved a new record this week.
Recently launched meme coins have also been enjoying significant attention. Notcoin (NOT), a token that gained popularity on Telegram, soared to $0.02886 before correcting to $0.02152. Additionally, GameStop (GME), a meme coin associated with the popular meme stock GameStop Corp (GME), has shown consistent upward movement for the second consecutive week.
Whale investors have played a significant role in driving the rally of meme coins, often moving substantial token volumes. However, their involvement has also contributed to market volatility and potential losses for smaller holders.
Read Also: Shiba Inu Update: Price Holds Steady, Token Burn Surges
PEPE Bulls Eye Triangle
In technical analysis, the four-hour chart reveals an ascending triangle pattern for Pepe, suggesting a potential 15% price increase if validated. The pattern has formed as the token consolidates following the record high. An ascending trend line indicates growing bullish momentum, while a horizontal line represents resistance that bulls have been attempting to break without success.
Traders are preparing buy orders slightly above the resistance line in anticipation of a breakout, which should ideally be supported by high volume. If successful, the 15% upward move could drive the price to $0.0000178, potentially sparking FOMO (fear of missing out) among investors. However, a weakening of the ascending trend line may lead to a breakdown, potentially setting support levels at $0.000014 and $0.000013, with a further move to $0.00001 not entirely ruled out.
Read Also: Shiba Inu (SHIB) and Cardano (ADA) Surge as Whales Make Big Moves
Follow us on Twitter, Facebook, Telegram, and Google News
Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
