Pepe Coin Price Forecast: After A 76% Surge, Is $0.0001 The Next Target?

Pepe Coin Price Forecast: Will the Frog-Themed Meme Coin Hit $0.0001 After a 76% Surge?

The frog-themed meme coin, Pepe Coin, has experienced a remarkable 76% surge in the past four days, reaching an all-time high of $0.00001577. This surge has pushed its market cap to an unprecedented $6 billion.

However, Pepe's price has since cooled off and currently sits at $0.00001379, representing a 4.3% decrease in the past 24 hours and a 38.9% increase in the past 7 days.

Bullish Momentum Remains Strong

Pepe's price action remains bullish, with bulls defending against bears' attempts to push the price lower. Support has formed around $0.00001380, which has been tested twice.

The coin's price action is characterized by higher lows and higher highs, indicating an uptrend. It also remains above its 50-day and 200-day simple moving averages (SMA), a bullish signal.

Key Resistance and Support Levels

As Pepe moves higher, key resistance levels include $0.00001439 and $0.00001576. Above this price, Pepe will enter a price discovery zone.

Conversely, if bears gain control, key support levels exist at $0.00001108 and $0.00000777.

Buying Opportunity

After its surge, Pepe's price has retreated by 12.55% to its current level. This correction may create an accumulation zone between $0.00001108 and $0.00001300.

On-chain analysis firm Santiment reports a surge in active addresses holding Pepe, suggesting further rally potential.

Market Value to Realized Value (MVRV)

Pepe's MVRV is currently at 39%, indicating that investors who purchased the coin last month are up 39% in profit. While a high MVRV typically signals potential for a sell-off, this is less likely during a bull run, as investors are more confident and less inclined to sell.