 is showing signs of a potential breakout, with analysts predicting a bullish trend that could push its market cap toward $25 billion.The memecoin is currently trading at $0.00001063, with notable price gains, but reflects a dip in 24-hour trading volume.){kind=link}
Pepe Coin ($PEPE), a popular Ethereum-based memecoin, is showing signs of a potential breakout, with analysts predicting a bullish trend that could push its market cap toward $25 billion, an analyst points out.
As the broader cryptocurrency market prepares for a possible altcoin rally, PEPE has gained momentum, signalling an upward move.
Also read: Upbit Launches PEPE & BRETT USDT Pairs
Pepe Coin Price Actions
Currently, PEPE is trading at $0.00001063, with a 1.47% increase over the last 24 hours and an 8.05% rise in the past week. Its global market cap now stands at $4.47 billion, up by 1.37% over the same period.
However, despite the positive price movement, the 24-hour trading volume has dipped by 11.63%, suggesting that while there is growing interest, some traders may be cautious in the short term.
Crypto analysts are keeping a close watch on PEPE, particularly after a recent post on X (Twitter) highlighted that the memecoin could be nearing a crucial “buy the dip” zone.
The analyst pointed out that PEPE’s price is approaching the $0.00000777 level, which aligns with the 50% Fibonacci retracement level. This area is often seen as a potential support zone, making it an attractive entry point for traders looking to capitalize on a possible price surge.
In addition, the study points to a potential excellent buying opportunity for anyone thinking about initiating PEPE positions during a back-test of the declining trendline.
The price fluctuations of the memecoin have tracked with general market downturns, but its recent upswing has encouraged traders, who are now looking to the October market for additional gains.
The Future Outlook for PEPE’s Price
The fact that market observers think PEPE may eventually aim for a considerably greater market cap, potentially exceeding $25 billion is another factor supporting the bullish outlook.
As PEPE rides the crest of an expected market rise, this breakout could represent a major turning point given the increased interest in memecoins and altcoins.
PEPE is one of the most watched memecoins as traders get ready for the next possible spike. If it breaks out as predicted, there is a good chance it will attract more investor attention.
PEPE has the potential to establish itself as a leading competitor in the cryptocurrency industry and redefine its place in the memecoin field if these positive signs continue.