Key Takeaways
- Pepe leads memecoins with over a 60% rally in a month as the price eyes a potential new all-time high.
- Pepe’s price action suggests a strong rally above $0.000012 as the price maintains a bullish momentum.
- Crypto experts share the bullish market sentiment for PEPE as the price trades above key support areas.
The price of PEPE has seen an over 60% rally in the last month, which is the best rally we have seen for PEPE in a long time, as price outperformed the likes of other memecoin such as DOGE and SHIB as the price of PEPE aims to recover its price decline of over 80% as the price nears a complete recovery.
The price of PEPE trading above the key demand zone of $0.00001 is a good baseline for investors and traders looking to buy into PEPE as crypto experts believe the current price action for PEPE could see its price hit a new high, with others suggesting a potential rally of 20-40x in the coming altcoins and memecoin season.
Bitcoin’s price reclaiming a new all-time high of $111,700 has restored renewed hope for the crypto market, eliminating the fears of a bear market. The price earlier crashed towards a low of $74,000 before making a strong bullish breakout to trade higher.
With strong higher timeframe confirmation for BTC above $95,000, it was clear the price was heading to new all-time highs as special altcoins and memecoins could match such price action considering a strong BTC dominance has prevented altcoins from a recent market rally.
PEPE’s Price Action And Market Sentiment
Source – PEPE 1D Price Chart From TradingView
Following a strong breakout from a downtrend, which resulted in an over 80% price crash for PEPE in the last three months, the price has shown a good rally to the upside, breaking above its psychological resistance of $1, which has held the price from breaking to the upside.
The price of PEPE maintained its rally and formed a key support zone around $0.000012 as the price continued to the upside towards $0.000016, as the price of PEPE on the higher timeframe would continue its price action to potential new all-time highs.
A tweet from crypto expert Cryptoknight suggests that the price of PEPE could experience a minor price range before rallying to its previous heights of around $0.000028, which can potentially set new records.
CryptooElites, on their X page, suggested that the price of PEPE has a potential for 40X in the coming bull market, following its price performance and gaining much attention and traction over other memecoins. With a 40x rally for the PEPE coin, we could see the price of PEPE making history for itself as a Matt Furie best-performing memecoin asset.
