With a New ATH, Pepe Aims to Surpass This Popular Altcoin: Should the Other Cryptos Be Worried?

With a New ATH, Pepe Aims to Surpass This Popular Altcoin: Should the Other Cryptos Be Worried?

The crypto markets continue to captivate, with memecoins gaining unprecedented attention. Despite bullish events such as the launch of the spot Ethereum ETF, FED approvals, and support from influential figures, top cryptos like Bitcoin and Ethereum have maintained a sideways trend following a modest upswing.

However, amidst this market lull, Pepe has emerged as a formidable force, amassing over 80% weekly gains and a staggering 140% surge in the past 30 days. Its price has propelled it into the top 20 crypto assets, surpassing Uniswap and Litecoin.

Despite its remarkable ascent, Pepe's price appears poised for an even more explosive move. Trading activity has skyrocketed, posing a significant threat to Polygon (MATIC). While MATIC trades within a parallel channel, Pepe maintains a steep ascending trajectory, having recently printed a new ATH. MATIC, on the other hand, has struggled to break above $0.8.

With sustained bullish momentum, Pepe's price could potentially rise beyond $0.000018, surpassing Polygon to become the 18th largest token in the market.

Technical Analysis

Since piercing above the 1 FIB level and its previous ATH around $0.00001, Pepe's price has been printing bullish candles. Having achieved new highs at $0.00001725, it now targets the next resistance at 2 FIB levels, around $0.00002.

However, this upward trajectory may face some resistance, as bulls may encounter exhaustion in maintaining the rally. The RSI has reached the upper resistance and is attempting to stay within those levels. Additionally, the recent upswing has been supported by average volume levels, with the volume oscillator hovering around the middle bands.

Notably, the recent surge was triggered by a drop in the oscillator from 16.11% to -6.80%, below average levels. This suggests an extreme squeeze, where bulls have maintained a strong ascending trend, suppressing bearish pressure.

Consequently, in the coming days, Pepe's price is anticipated to continue its upward trajectory, potentially reaching a new ATH of $0.00002 and surpassing the crucial resistance at $0.000018.