Pepe continues its price rally that has seen it gain by more than 130% in just a week. Currently, PEPE is trading at $0.000003004, with trading volumes now up by 89% to push through the $1.5 billion mark.
PEPE is a meme coin for anyone new to crypto who is interested in PEPE but has yet to learn what it is. There is no use case to it, but it has a strong community behind it. With meme coins now emerging as some of the best ways to build wealth quickly and without spending too much, PEPE has emerged as one of the leaders in the meme coin space.
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PEPE Price Action In Lockstep With Bitcoin
Currently, PEPE is one of the few altcoins that seem to be following Bitcoin’s price lead, outpacing even altcoins with solid fundamentals. Today, as Bitcoin approaches $60k, PEPE is also in a rally of its own, up 44% to push through the $1 billion market cap.
meme magick ✨🪄 $PEPE pic.twitter.com/0YEhdrKzHJ
— Pepe (@pepecoineth) February 27, 2024
PEPE’s momentum does not seem to be slowing down, and there is every reason to believe that it could be headed to even higher highs. That’s because its current trading pattern closely resembles Bitcoin’s price action. If this holds, as it appears to be doing so far, PEPE is one of the best meme coins to buy now.
That’s because all indicators are that Bitcoin could smash through its all-time highs, a factor that could open the way to new highs, which some analysts believe could be in the $200k range and above. For PEPE, which is gaining by more than 30% daily, that would mean killing several zeros from its price and making highs it has never tested.
Buying PEPE Is About To Get Easier
Even better is that investors will soon have a big incentive to buy PEPE. Gas fees are one of the main reasons holding investors back from buying Ethereum tokens. This is especially the case for small investors who usually target meme coins. However, this is about to change thanks to the upcoming Dencun upgrade that will significantly lower the transaction charges on Ethereum layer-2s. This will open up the way for investors to maximize their investments in ERC20. With PEPE now a clear leader amongst Ethereum meme coins, this presents a possible inflow of capital that could see PEPE test price levels it has never tested.
Ethereum’s Dencun Upgrade Goes Live on #Holesky Testnet, Eyes Mainnet Launch #Dencun $dencunhttps://t.co/RBqC0Ad3yR
— $Dencun|EIP-4844 (@DencunErc20) February 17, 2024
Also, unlike most meme coins that are usually only available on small, not-so-trusted exchanges, investors can easily buy PEPE on almost all major crypto exchanges, including Binance. There is also speculation that Coinbase, one of the largest cryptocurrency exchanges in the US, could soon be listing PEPE. This means in a FOMO scenario like what is currently building up, PEPE stands to see more investor inflows than most meme coins, and that’s a big plus to its price dynamics.
In the follow-up section, we look at PEPE’s price potential now that it has breached the $1 billion market capitalization mark.
PEPE Crypto Price Prediction
When going to press, PEPE traded at $0.000003011, with volumes in the last 24 hours hitting $1.6 billion.
PEPE is currently in a bullish breakout with not much resistance in sight. This means it’s purely a volume game, and as long as the broader market keeps growing, PEPE could keep edging higher by double digits. With Bitcoin leading the market to a new bull run, the odds are that PEPE could easily kill a zero in the short term.
However, if buying volumes drop, two scenarios may play out today. One would be PEPE consolidating around the $0.000000300 price level. This could then be followed by another bullish leg as the market, which could see PEPE make new all-time highs.
The other scenario would be a possible correction that could see PEPE $0.0000016, which is now a key support level in the short term.
Why PEPE Is Likely To Kill A Zero Soon
While any of these scenarios can play out, continuing the bull run seems more likely. At this point, all indicators across the market point to a bull run. With PEPE among the altcoins that have caught on quite early, the odds of it killing a zero in the coming days look quite likely.
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