Pepe Price Prediction: Is PEPE The Next Dogecoin In 2024?

Pepe Price Prediction

Pepe, an Ethereum-based meme coin, has experienced a significant price surge, reaching an all-time high amid increased market activity. Over the past 24 hours, Pepe's price has risen by 24.65%, reaching $0.00001383. This surge has propelled its market capitalization to $5.82 billion, ranking it 21st among cryptocurrencies. Investors have shifted towards Pepe, divesting from established meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).

The trading volume has also witnessed a substantial increase of 89.75% to $4.43 billion in the past 24 hours, representing 76.14% of its market cap. The circulating supply remains at 420.69 trillion PEPE, which is the total and maximum supply of the memecoin.

Pepe Price Prediction: What's Next for the Popular Memecoin?

Pepe has experienced a notable upward trend this week, reaching new highs driven by strong bullish momentum. Increased trading activity indicates robust market confidence in Pepe's continued growth. .00005 Possible After 24% Surge What's Next?" width="1200" height="617" data-lazy-src="/uploads/20240522/1716377918664dd93e11dc8.png">

Pepe Price Prediction

Over the past week, Pepe coin has surged by over 21%, with a monthly increase exceeding 119%, indicating a sustained bullish trend.

Market Sentiment and ETF Speculations

This surge reflects growing interest and investment in Pepe, propelling it into the spotlight among other cryptocurrencies. The trend suggests robust trading activity and increasing demand for this Ethereum-based asset.

The rise in Pepe's Open Interest (OI) has garnered attention, with data from CoinGlass indicating a rise in the past 24 hours. This spike, representing the total value of all PEPE futures contracts on crypto exchanges, often suggests growing investor confidence.

A significant number of long positions are emerging, pointing to a bullish trend. Concurrently, speculations about the potential approval of spot Ethereum exchange-traded funds (ETFs) in the United States are fueling optimism in the market. These developments hint at a positive sentiment among crypto investors.

Technical Indicators Show Bullish Momentum

The current bullish trend has pushed Pepe coin past the $0.000015 resistance level, hinting at a potential upward trajectory. If the bullish momentum persists, Pepe could target $0.00003 and even $0.00005. However, if bearish forces regain control, Pepe might retrace to support levels at $0.000013 or lower to $0.000012. These potential shifts highlight the market's volatility and the opportunities within Pepe's price movements.