Pepe Coin Price: Upsurge In Whale Activity Props PEPE For $0.000013 In May?

The Meme Coin Craze Continues

Despite Bitcoin and major altcoins struggling for direction, the meme coin craze persists. As previously discussed, Shiba Inu's price analysis suggests that meme coins may gain increased attention, particularly among traders seeking alternatives to the sluggish overall market action. Pepe Coin, for example, exhibits the potential to maintain its uptrend and target a new record high.

Pepe Coin's Double-Digit Surge

Pepe Coin emerged as one of the trending cryptocurrencies on CoinMarketCap on Monday. Its value surged by over 11% in 24 hours, trading at $0.0000972 during US business hours.

The price increase was accompanied by a significant 142% increase in trading volume to $1.06 billion, propelling PEPE into the top ten most traded coins. A subsequent 10% rise in overall market value to $4.08 billion further reinforced the bullish sentiment.

Technical and Fundamental Analysis

This analysis aims to evaluate PEPE's technical and fundamental structure amid expectations of a breakout to $0.000013 in May. Altcoins, especially those known for their volatility, are likely to experience price movements during this period as Bitcoin consolidates. While such movements may be limited within key ranges, they indicate the potential for increased value growth in the coming weeks.

Pepe Coin Price Prediction: Navigating Volatility

The ongoing surge in Pepe Coin could potentially reach its Q1 high of $0.00001083. The frog-themed token currently holds above several key levels, including the 200-day Exponential Moving Average (EMA) at $0.000004437, the 50-day EMA at $0.0000072, and the 20-day EMA at $0.00000801. Remaining above these bull market indicators signals the potential for the uptrend to continue.

Tradingview Indicators

Technical indicators such as the Relative Strength Index (RSI) support the bullish technical thesis. If the RSI enters the overbought region from its current level of 69, buy orders will increase, providing a strong tailwind for the rally towards $0.000013—a new all-time high.

The validation of an inverse head and shoulders pattern suggests that PEPE could potentially extend its breakout from $0.00000972 to $0.000013—a 50% target from the neckline.