Pepe Coin Price Analysis: 12% Rally Signals PEPE Breakout To $0.00002 As Ethereum ETF Hype Thaws

PEPE Price Analysis

PEPE price has embarked on an uptrend over the past 7 days, surging by an impressive 80%. This surge has been characterized by a series of higher highs and higher lows, signaling a robust bullish momentum for the frog-themed memecoin.

Following the recent approval of the Ethereum ETF, PEPE's price has continued to climb without significant retracement, defying typical market behavior after such breakouts. As of today, PEPE trades at $0.00001674, representing a 12% increase over the last 24 hours and an 80% gain in the past 7 days.

PEPE Coin Price Analysis: All-Time High After All-Time High

PEPE price has reached a new all-time high of $0.00001706, just one week after its previous record peak, according to data from CoinGecko. As an ERC20 coin, it continues to benefit from the hype surrounding the ETHETF approval news.

Bullish sentiment remains strong for PEPE, as evidenced by the growing number of PEPE coin holders, which now stands at 231,977, a 0.26% increase over the past 24 hours. PEPE price analysis reveals a strong support level around $0.00001387, attracting investor interest for potential entry points after a retracement.

Additionally, the price consistently trades above both the 50-day and 200-day simple moving averages (SMAs), further confirming the bullish trend.

Inverse Scenario

Having spiked almost 2X in less than two weeks, PEPE's price may experience some consolidation before new buy volume enters the market. Key support areas for PEPE coin price include $0.00001387 and $0.00001100.

Currently, the Relative Strength Index (RSI) stands at 69.44, slightly below the overbought (OB) threshold. Investors should closely monitor market sentiment, particularly regarding Ethereum ETF news, at this level.

PEPE Price: Future Outlook

PEPE coin's price outlook remains bullish as the price action continues its upward trajectory. In the near future, PEPE coin price is expected to face some resistance levels at $0.0001863, $0.00002123, and $0.00002607.