Pepe (PEPE) Price Hits New All-time High After Flipping Polygon (MATIC) in Market Cap

The post Pepe (PEPE) Price Hits New All-time High After Flipping Polygon (MATIC) in Market Cap appeared first on Coinpedia Fintech News

Amid the ongoing crypto cash rotation, as Bitcoin (BTC) struggles to rally beyond $72,000, the frog-themed meme coin Pepe (PEPE) has emerged as one of the biggest winners. According to the latest crypto oracles, as of Monday during the early London session, Pepe’s price hovered around $0.0000168, up over 11 percent in the past 24 hours. 

Following an 81 percent spike last week, Pepe officially entered the top 20 most valuable digital assets. As a result, Pepe is much more valuable than Polygon (MATIC), Litecoin (LTC), and Fetch.ai (FET), among many others. If Pepe’s bullish momentum continues in the coming week, the Shibarmy should be warned of possible flipping. 

Why Bet on Further Pepe Price Surge 

After last week’s historic win for the Ethereum ecosystem through the approval of spot Ether ETFs in the United States, bullish optimism for the altcoin industry has significantly surged. Top web3 projects on the Ethereum network—led by Uniswap (UNI), Arbitrum (ARB), and Pepe—have registered a sharp uptick in daily traded volume. 

Explosive #Altseason brewing, and many are not seeing it.

The ETH/BTC perfectly following the Wyckoff's re-accumulation schematics on the weekly coupled with bullish divergence.

My body is ready! https://t.co/Z0YYbg3f29 pic.twitter.com/WexxozVDFJ

— Mikybull Crypto (@MikybullCrypto) May 27, 2024

Remarkably, the ETH/BTC pair has significantly rebounded from the recent multi-year lows and is on the cusp of rallying to retest an all-time high. Combined with Bitcoin dominance gradually forming a macro reversal pattern, it is safe to assume a major altseason is on the horizon.

Midterm Price Target 

Following the recent Pepe bullish rally, the weekly Relative Strength Index (RSI) has remained above the 70 level, thus indicating a robust trend. From a technical standpoint, Pepe’s price against the US dollar will easily rally 20 percent in the near term to reach $0.000020, which coincides with the 1.618 weekly Fibonacci Extension.