Pepe Coin (PEPE) has seen a 2.5% drop in value over the past 24 hours, settling at $0.00001016 as the broader cryptocurrency market fell by 3.5%. Despite this dip, PEPE is still up by 23% in the past month and has surged an incredible 1,350% over the past year.
Whales have been steadily accumulating PEPE, and some analysts are now suggesting it could target a market cap of $25 billion. While this scenario represents an optimistic view, PEPE’s strong performance in 2024 indicates it might benefit significantly from a potential bull market.
Pepe Coin Headed for a Breakout?
Today’s price decline may be disappointing for long-term PEPE holders, but indicators show a potential recovery could be close. The 30-period moving average is nearing a cross below the 200-period, often a sign of a short-term bottom. Additionally, the relative strength index (RSI) shows PEPE approaching oversold territory, suggesting a bounce may be imminent.
Even with the recent price dip, PEPE’s trading volume remains high at $1.2 billion. This level of activity points to sustained demand, especially from whales who are increasing their holdings. One trader alone has purchased over 33 billion PEPE in the past ten days, boosting their total to 298 billion tokens.
Analyst Predictions for Pepe Coin
The increasing interest in PEPE from whales has led some analysts to predict new highs for the token. Whale Insider, a popular Crypto Twitter account, has forecasted that PEPE could soon experience a breakout. The token’s medium-term price chart shows a pennant formation, which often signals a big move. Whale Insider believes PEPE’s market cap could hit $25 billion, representing a 500% increase and bringing its price to around $0.00006.
While this target is optimistic in the short term, PEPE could rally towards the end of the year. A significant boost may come if Donald Trump, a crypto-friendly candidate, wins the U.S. presidential election on November 5. Such an outcome could drive a market-wide bull run, potentially pushing PEPE’s price to $0.000020 by November’s end.
Pepe Unchained: A Layer-Two Network
PEPE isn’t the only meme coin drawing attention. Pepe Unchained (PEPU), a layer-two Ethereum project, has raised over $21.5 million in its presale. This new platform offers faster transactions and lower fees, making it a strong competitor in the layer-two ecosystem.
Pepe Unchained is building an ecosystem for meme tokens, potentially rivaling other networks like Base and Optimism. Its speed and reduced transaction costs, combined with double staking rewards, provide solid incentives for long-term holders.
Community Support and Presale Success
Pepe Unchained’s presale is nearing its end, with tokens currently priced at $0.0115. The project has already garnered over 50,000 followers on social media, showcasing strong community support. Investors still have a chance to participate before the price increases, and the token may see significant growth when listed on trading platforms.
The post Pepe Coin Breakout Imminent? $25 Billion Market Cap and 60% Gains in Sight According to Analysts appeared first on Cryptonews.
