Pepe Price Forecast: On The Cusp Of 35% Action To $0.00002

Pepe Price Forecast

After hitting an all-time high of $0.00001717 on May 27, the frog-themed meme coin, Pepe, has regained momentum. It has experienced a 2.7% increase in the past 24 hours, trading at $0.00001475 towards the end of Thursday's European session. According to CoinGecko data, Pepe is poised to reclaim its all-time high as support, while bulls anticipate a breakout to $0.00002.

Why Is Pepe Pumping?

Meme coins within both the Ethereum and Solana ecosystems have made significant strides, outperforming Bitcoin and major altcoins in some cases. Following Pepe's all-time high in May, Floki recently set a new record high.

Newly launched meme coins have also contributed to the bullish surge. For example, Notcoin (NOT), which gained popularity on Telegram, soared to $0.02886 before correcting to $0.02152. This viral tap-to-earn token has gained over 300% in 14 days and 77% in seven days, according to CoinGecko.

Similarly, GameStop (GME), a meme coin paying homage to the popular meme stock GameStop Corp (GME), has continued its rally for the second consecutive week. The meme coin has surged alongside the stock, which aims to redistribute wealth and challenge Wall Street giants. The developers of GME crypto believe that ordinary investors deserve life-changing gains.

Whales and Price Impact

Whales have played a significant role in the rally of meme coins, as they move billions of tokens. However, their involvement also contributes to market volatility and can trigger major losses, affecting smaller holders disproportionately.

Pepe Bulls Eye Triangle Breakout

The four-hour chart reveals an ascending triangle pattern, which could lead to a 15% price increase for Pepe if validated. This triangle has formed as the token consolidates after its recent rally to record highs. An ascending trend line supports the bullish momentum, while the horizontal line or x-axis represents the resistance that bulls have unsuccessfully attempted to breach.