Meme Coin Traders Turn Bullish as PEPE Breaks All-Time High

The cryptocurrency market witnessed a notable surge as meme coin PEPE hit an all-time high on May 13, 2024, reaching $0.00001088.

This remarkable milestone propelled PEPE to a market cap of $4.5 billion, surpassing established tokens like Uniswap (UNI) and Render (RNDR).

Meme Coin PEPE Reaches New All-Time High

The bullish momentum surrounding PEPE has caught the attention of traders and analysts, fueling optimism for its future performance.

Indeed, PEPE’s unprecedented rise in value has been a topic of intense discussion within the cryptocurrency market. Technical analysts such as Nebraskan Gooner and Koroush AK attribute this surge to the coin’s growing popularity and increased trading volume.

The meme coin’s success reflects a broader trend where digital assets, initially created as internet jokes, gain substantial market traction and investor confidence. Moreover, renowned crypto trader MacnBTC shared his insights on PEPE’s potential trajectory.

“PEPE weekly looks crazy. I have seen this setup many times, will likely consolidate here, break out next week, and pump to 1.618 ($0.00001555),” MacnBTC said.

His analysis suggests that PEPE might experience a brief consolidation period before embarking on another upward trend, potentially pushing its value even higher.

Read more: Pepe (PEPE) Price Prediction 2024 / 2025 / 2030

PEPE Price Analysis. Source: TradingView

In conclusion, PEPE’s recent achievements have solidified its position as a noteworthy player in the crypto market. With analysts predicting further price growth, the meme coin’s trend is one to watch closely.