After yesterday’s marketwide drop that saw most altcoins dip by over 10%, PEPE is among the meme coins leading the rebound. Today, PEPE is up by 11% from a low of $0.000007326 to its current price of $0.000008089.
PEPE is known as one of the most decentralized meme coins today. Unlike most meme coins, where a few individuals hold much sway and can manipulate the market, PEPE is mainly community-driven, making the token a darling for investors. PEPE has also built a reputation as one of the first meme coins to build a credible reputation away from the dog meme coins that have come to dominate the market so far. PEPE has built a reputation around a frog meme, and the market is loving it if the growing acceptance of PEPE as an investment is anything to go by.
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PEPE is one of the meme coins that have rebounded strongly after yesterday’s Bitcoin-triggered correction. This indicates that most of those who already hold PEPE did not panic sell. At the same time, it means that, investors that investors bought more PEPE in the dip, fueling the price rebound. It is an indicator that investors believe PEPE has more upside to make as Bitcoin pushes the market higher again after yesterday’s correction.
More Avenues Open Up For Low Fee Trading
PEPE is also benefiting from the fact that it is becoming more accessible to the average investor. With Ethereum fees surging lately, it has become harder for small-time investors to buy into Ethereum-based meme coins. PEPE is one of those that have found clever ways to circumvent these gas fees. Earlier this week, the PEPE social media account announced that PEPE now has an official bridge that would help investors buy PEPE through the Binance chain and Arbitrum, where transaction fees are much cheaper.
As network activity and fees increase on Ethereum L1, we would like to remind you that $PEPE has an official bridge at https://t.co/zetvKb9zRI to both Arbitrum and Binance networks where fees are exponentially cheaper. $PEPE is also available on a plethora of user-friendly… pic.twitter.com/9iaWi0meAA
— Pepe (@pepecoineth) March 1, 2024
Besides the PEPE official bridge, many more exchanges are starting to offer solutions that make it easier to buy PEPE without having to incur hefty Ethereum fees. Today, the PEPE X account has announced that those looking to buy PEPE without having to deal with network fees can do so on Gemini, Crypto.com, and Uphold. Since these are easily accessible exchanges, the odds are that small investors looking to capitalize on the rising meme coin frenzy will rush into PEPE.
This is evident in the increased PEPE trading volumes over the past week. It is also apparent that even after yesterday’s price dip, the rebound has been quick, and PEPE buying volumes are surging.
PEPE’s prospects are made even better because it is available on most of the world’s top crypto exchanges. For instance, investors can easily buy PEPE on Binance and KuCoin.
In the section below, we look at PEPE’s potential price direction as Bitcoin leads the market in a rebound and PEPE’s buying volumes rise.
PEPE Crypto Price Prediction
When going to press, PEPE was trading at $0.000007977. The market capitalization for PEPE had shot up to $3.34 billion.
Like the rest of the market, PEPE is on a rebound after yesterday’s Bitcoin-triggered correction. If PEPE continues the current upside trajectory amidst rising buying volumes, the key level to watch will be yesterday’s high of $0.00000845. If PEPE breaks this resistance while Bitcoin pushes through its all-time highs, then FOMO could easily see PEPE kill a zero in the day.
However, two scenarios could play out if PEPE cannot push through the $0.00000845 resistance. The first is a consolidation between the $0.00000845 resistance and $0.00000498 support.
On the other hand, if bears take control and push PEPE through the $0.00000498 support, then prices below $0.00000300 could be seen within the day.
Why A PEPE Bullish Breakout Is Most Likely
Of the three scenarios above, PEPE is most likely pushing through resistance and killing a zero. That’s because yesterday’s correction was largely due to the volatility of leveraged trading. Overall, the crypto market remains bullish, and with Bitcoin halving closer, money will keep flowing into crypto.
For altcoins like PEPE that have shown potential to outperform Bitcoin significantly in an all-out bull market, the odds of FOMO buying pushing the price to new all-time highs are pretty high.
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