Will Pepecoin (PEPE) Price Yield A 10x-15x Rally in 2024?
The post Will Pepecoin (PEPE) Price Yield A 10x-15x Rally in 2024? appeared first on Coinpedia Fintech News
With a massive jump 65% jump this week, the PEPE price action showcases increased momentum and buying pressure. Further, as the broader market recovers with Bitcoin near $69K and Ethereum ETFs approval, the bull run chances are improving for the meme coins.
With the increasing demand for cryptocurrencies, will the meme coins explode this year? Will the PEPE price yield a 10x to 15x Rally in 2024? Will it reach $1 in 2030? Find out more in our PEPE price prediction.
PEPE Price PerformanceWith a rounding bottom breakout in the daily chart, the PEPE price has surpassed the $0.00001 psychological level. The neckline breakout prolongs the bullish trend continuation by 65% this week. This increases the market value of memecoin by 178% over the last 5 weeks.
On a longer picture, the memecoin has increased by almost 1300% in the last 14 weeks. This reflects a massive jump in the PEPE demand in the retail market. The 65% jump this week creates a bullish engulfing candle in the weekly chart.
The PEPE price is currently trading for $0.00001510, with an intraday growth of 6.82%, undermining the 5.26% drop last night.
Technical Indicators:
RSI: The daily RSI line sustained in the overbought zone, reflecting an overall demand increase.
Historical Volatility: The HV line has increased from 101 to 191 within a week. As the bull run continues, this reflects an increased volatility and bolsters the prevailing uptrend.
Will PEPE Rally Jump 1000%?In the daily chart, the bullish trend sustains above the 100% trend-based Fibonacci level at 0.000015. As the higher high trend continues, with the unleashed trend momentum after the rounding bottom breakout, the PEPE price is expected to surpass the $0.00002 mark.
Beyond this, the meme coin could head for the 2.618% trend-based Fibonacci level at 0.0000277.
In a longer time, with the upcoming bullish catalyst in the crypto market like the Uptober rally, the alt season, and potential rate cuts, the meme coin could surge even higher. Hence, the possibility of a 10x-15x rally in PEPE price is a feasible target for 2024 as the buying pressure grows.