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PEPE Price Prediction – PEPE Eyes $0.00002832 as Broader Market Turns Bullish

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Highlights:

  • PEPE is pumping but is yet to break multi-month resistance at $0.00001388
  • Rally through this resistance could see PEPE rally to $0.00002832 
  • As Bitcoin pushes higher, PEPE could experience FOMO run to $0.00002832

PEPE (PEPE) is doing well today. PEPE has gained by 14% in this period to trade at $0.00001270. A surge in buying volumes has accompanied PEPE’s intense price action. In the last 24 hours, PEPE trading volumes are up 76.91% to $2.42 billion. 

This is an indicator that investor interest in PEPE is on the rise. As this interest in PEPE rises, the odds of a parabolic price move in the short term become increasingly possible. Besides, this is not a random pump for PEPE; it is supported by marketwide factors that make the case for PEPE eliminating a zero quite plausible short term. 

Broader Market Momentum Pushing PEPE Price Higher

One of the factors making the case for a PEPE rally strong is that Bitcoin has broken out of a multi-month range. Alongside Bitcoin, Ethereum has also broken out bullish and with high volumes. This has reignited market excitement that, after months of no action, the next leg of the 2024/25 cryptocurrency bull cycle is in.

In past bull cycles, meme coins are among the assets that have given the highest returns. It’s no different this time, and meme coins like PEPE have outperformed the rest of the market. If the broader market momentum continues, PEPE can outdo most meme coins and potentially rally to new highs, eliminating a zero or two.

PEPE’s Credibility Helping Drive Demand

Among the factors that make the case for PEPE compared to other altcoins is its credibility. Unlike in past cycles when there were only a few meme coins, the market is now saturated with them, and hundreds of new ones are launched daily. Most new meme coins are rugpulls. PEPE is one of the meme coins that has not only been around for long enough to earn investor trust but is also highly decentralised.

This means investors looking to leverage the power of meme coins to multiply wealth while at the same time staying safe from rugpulls will likely gravitate towards PEPE among a few other top meme coins. This could create demand pressure that is likely to keep pushing PEPE higher. PEPE’s price action in the last 24 hours, when there has been a surge in momentum across the cryptocurrency market, is a precursor of what could play out if the market remains on its current trajectory. 

Whales Are Buying PEPE In Big Numbers

Besides the marketwide factors, PEPE is also driven by increased whale activity. This indicates that big money players are confident in the future of PEPE. Rising whale activity comes at a time when a growing number of PEPE tokens are now in profit. Data indicates that up to 34 trillion PEPE are now in profit. This makes the current price a solid support level that could allow PEPE to push even higher as the broader market turns bullish.

Technical Analysis – PEPE Price Yet to Breakout of Multi-Week Consolidation

PEPE has pumped in the last 24 hours. However, this pump has not yet pushed the price through the $0.00001388 multi-month resistance. 

PEPE
Source: TradingView

With bullish sentiment rising across the market, the odds are high that this resistance will be broken in the short term. If this happens, PEPE could soon rally to $0.00002832, the highest price it hit in December 2024 before a correction followed. 

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