Highlights
- The pepe coin is enjoying a grand run at the market, as its price keeps climbing higher and higher.
- It has also outperformed BTC in the market.
- As a result, more and more people are getting drawn towards it, overlooking its high price.
PEPE, or Pepe Coin, is skyrocketing. This is because its price has doubled in just two weeks. During this time, PEPE has hit multiple peaks, each higher than the last. Thus, it is setting new all-time highs. However, this is the first time PEPE has surged this much, creating a lot of hype around it. This surge has created a lot of excitement. As a result, people are now wondering if PEPE can keep climbing and eliminate more zeroes in 2024.
PEPE coin Performance Analysis
Currently, the PEPE price is $0.00001525, inching down from its latest all-time high of $0.00001683, set just a few hours ago. This came after surpassing the previous all-time high of $0.00001577, set yesterday. Therefore, PEPE isn’t a typical dog-based meme coin. Rather, it is a frog-inspired cryptocurrency launched last year to make profits for its holders.
Therefore, PEPE has shown why it exists, hitting big peaks right after its launch, then another one at the beginning of this year, and several in May alone. Since its launch, PEPE has surged a whopping 29,476%. Moreover, this month alone, it has gained 136%. Together with this, in the last week, it has climbed up by 77%. But it is not just the price that has improved. What is more interesting is that it now ranks 19th on CoinmarketCap with a market capitalisation of $7.09 billion. Moreover, the number of address holdings has increased due to increased demand.
The Near Future
The market is still bullish for PEPE coin, as demand for buying remains high. The Relative Strength Index (RSI) suggests an overbought zone, which has fueled its price rally with consistent gains. Moreover, technical indicators like MACD and the historic volatility index show a bullish trend.
Therefore, as things stand now, PEPE’s price has shown both short-term and long-term growth potential. Moreover, the upcoming post-halving rally and altcoin season can increase the value significantly. That is why the analysts predict PEPE’s price will rise at least 10 to 15 times this year. Thus, it aims for a target of $0.0002 by 2025. At the same time, investors are also showing interest in PEPE, with expectations higher than ever.
Final Words
Thus, this year, PEPE’s price growth is the highest among all cryptocurrencies. What is more important is that it has even surpassed Bitcoin. Incidentally, BTC has risen above $70,000, aiming for its all-time high target of $73,750.07. Therefore, investors remain bullish and are buying more despite the fears of PEPE repeating last year’s history. The buying trend remains the same even at this high price. Thus, it remains to be seen how PEPE will shape its image in the crypto market in the coming days and weeks.
