Key Takeaways
- PEPE’s marketcap has seen a significant price crash from $11.2B to a region of $3B in the past few months.
- PEPE’s breakout above $0.00001 could see the price resume a strong bullish rally to the upside.
- PEPE’s price trading below the 50-day and 200-day indicates strong bearish price dominance.
PEPE the Frog, a famous memecoin, is tipped to overthrow DOGE after gaining much attention after hitting several all-time highs in the past few months as traders and investors developed a liking for this crypto memecoin.
Since its all-time high of $0.0000283, the price of PEPE has dropped over 80% in the last few months as bears took advantage of the price toward its low region. Although altcoins have shown some great price rebounds in the last few weeks, PEPE has yet to show a strong rebound from its downtrend.
PEPE’s price has seen a significant drop in its marketcap from a high of $11.2 billion to a region of $3 billion marketcap, highlighting that the past few months saw the bears dominating the price to the downside, with bulls having little participation in the market.
Will PEPE produce a strong rally in the coming months to challenge other memecoins like DOGE, as crypto experts predict the price of PEPE has the potential to replicate Dogecoin’s price rally in the previous bull cycle?
PEPE Price Prediction For April
Source – PEPE Price Chart From Coinmarketcap
The price of PEPE has shown a slight gain in the last seven days. It must break out of its downtrend towards a high of $0.00001, as it has struggled to show strong signs of a possible breakout to the upside.
If the price of PEPE trades above its 50-day and 200-day EMAs, we could see the price resume its rally as bulls would be willing to buy into PEPE for a potential rally to the upside.
Traders and investors will pay attention to the price action, as PEPE’s price must show convincing price action above $0.00001 for a bullish continuation.
Top crypto analyst Boboobtc, in his X post, made a statement on current price action in which he stated, “Remember when everyone was hyped about PEPE? On the higher timeframe, PEPE has now landed on weekly support, printing a clear double bottom “W” pattern across multiple lows.”
“If the price can break out from here, it could confirm a major trend reversal. That would be a strong signal for a potential entry.”
PEPE Price Prediction At DOGE Marketcap
Source – PEPE Marketcap Comparison With DOGE From Marketcapof
The possibility of PEPE breaking out of its weekly double-bottom price to the upside could signal a renewed price rally. PEPE has the potential to trade towards a market cap of $30B to $40B in the bull market, which could put its price close to a possible 28x rally.
Overall, PEPE has the potential to rally towards a marketcap of $60B if not in this bull market but in the next few cycles, as the frog-themed crypto memecoin in the past few months of its price rally has caught the attention of investors and traders.
