Will Pepecoin (PEPE) Price Yield A 10x-15x Rally in 2024?

Will Pepecoin (PEPE) Price Yield A 10x-15x Rally in 2024?

With a massive 65% jump this week, the PEPE price action exhibits increased momentum and buying pressure. Furthermore, as the broader market recovers with Bitcoin approaching $69K and Ethereum ETFs approval, the chances of a bull run for meme coins are improving.

Amidst the growing demand for cryptocurrencies, will meme coins explode this year? Can the PEPE price yield a 10x to 15x rally in 2024? Will it reach $1 by 2030? Delve deeper into our PEPE price prediction to find out.

PEPE Price Performance

After breaking out of a rounding bottom in the daily chart, the PEPE price has surpassed the $0.00001 psychological level. The neckline breakout has extended the bullish trend by 65% this week, increasing the market value of the memecoin by 178% over the past 5 weeks.

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On a larger scale, the memecoin has surged by nearly 1300% in the past 14 weeks, reflecting a significant jump in PEPE demand in the retail market. The 65% surge this week has created a bullish engulfing candle in the weekly chart.

The PEPE price is currently trading at $0.00001510, with an intraday growth of 6.82%, offsetting the 5.26% decline last night.

Technical Indicators:

• RSI: The daily RSI line remains in the overbought zone, indicating an overall increase in demand.
• Historical Volatility: The HV line has risen from 101 to 191 within a week, reflecting increased volatility and supporting the prevailing uptrend as the bull run continues.

Will PEPE Rally Jump 1000%?

In the daily chart, the bullish trend continues above the 100% trend-based Fibonacci level at 0.000015. With the continuation of the higher high trend and the unleashed trend momentum after the rounding bottom breakout, the PEPE price is expected to exceed the $0.00002 mark.

Beyond that, the meme coin could target the 2.618% trend-based Fibonacci level at 0.0000277.

In the longer term, with upcoming bullish catalysts in the crypto market, such as the Uptober rally, alt season, and potential rate cuts, the meme coin could soar even higher. Therefore, the possibility of a 10x-15x rally in PEPE price is a feasible target for 2024 as buying pressure intensifies.