Pepe Price’s Potential 30% Surge Amid Soaring Market Cap

PEPE cryptocurrency has recently exhibited a distinct pattern on its short-term charts, suggesting a market pause after its recent surge. Notably, PEPE has garnered significant attention in the market.

The asset has formed a symmetrical triangle, a classic technical formation indicative of a potential continuation or reversal trend depending on the breakout direction. PEPE price has consolidated above the point of control (PoC), which has provided critical support during this formation.

This consolidation near the PoC is a bullish signal indicating strong buyer interest at these levels. The accompanying rising volume suggests increasing momentum among traders.

Anticipated Breakout

As PEPE approaches the triangle's apex, anticipation for a significant breakout heightens. A successful close above the triangle could propel PEPE to a potential 30% value increase. Traders will closely monitor a confirmed breakout and subsequent retest of the triangle's upper boundary, which would validate the bullish scenario and potentially trigger a rally.

Bullish Momentum

Furthermore, the frog-themed memecoin recently experienced a significant technical development: the golden cross. This bullish signal occurred when the 50-day moving average crossed above the 200-day moving average, widely recognized as an indicator of potential major bullish momentum. Leading up to this event, PEPE's price exhibited steady upward movement. Historically, the golden cross has been a precursor to prolonged bullish periods. The sharp increase in trading volume accompanying the crossover further supports the strength of this trend, suggesting robust buyer interest.

Rising Market Cap

In the latest cryptocurrency rankings, PEPE has made a notable move, overtaking Litecoin and Polkadot in terms of market capitalization. This shift highlights PEPE's growing influence and market acceptance. Over the past week, PEPE not only surpassed these major players in market cap but also outperformed them in trading volume over both 7-day and 24-hour periods. This remarkable growth in volume and market cap signals strong investor confidence in PEPE.

The crypto community has shown increasing interest in PEPE, as evidenced by its significant price movements and trading activity. With its sights now set on larger caps like Chainlink and Bitcoin Cash, market watchers are keenly observing PEPE's momentum for potential further climbs. The community speculates on PEPE's ability to continue its upward trajectory and challenge even more prominent cryptocurrencies in the rankings.