bitcoin
Bitcoin (BITCOIN)
$114,171 -0.16%
ethereum
Ethereum (ETHEREUM)
$3,598 -1.44%
binancecoin
BNB (BINANCECOIN)
$761.44 0.52%
solana
Solana (SOLANA)
$164.20 -1.92%
ripple
XRP (RIPPLE)
$2.95 -2.88%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 -0.48%
pepe
Pepe (PEPE)
$0.000010 -1.46%
bonk
Bonk (BONK)
$0.000024 -5.97%
bitcoin
Bitcoin (BITCOIN)
$114,171 -0.16%
ethereum
Ethereum (ETHEREUM)
$3,598 -1.44%
binancecoin
BNB (BINANCECOIN)
$761.44 0.52%
solana
Solana (SOLANA)
$164.20 -1.92%
ripple
XRP (RIPPLE)
$2.95 -2.88%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 -0.48%
pepe
Pepe (PEPE)
$0.000010 -1.46%
bonk
Bonk (BONK)
$0.000024 -5.97%
bitcoin
Bitcoin (BITCOIN)
$114,171 -0.16%
ethereum
Ethereum (ETHEREUM)
$3,598 -1.44%
binancecoin
BNB (BINANCECOIN)
$761.44 0.52%
solana
Solana (SOLANA)
$164.20 -1.92%
ripple
XRP (RIPPLE)
$2.95 -2.88%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 -0.48%
pepe
Pepe (PEPE)
$0.000010 -1.46%
bonk
Bonk (BONK)
$0.000024 -5.97%
Disclosure
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PEPE Price Prediction – Why PEPE Could Rally to $0.00001163 Soon

Highlights:

  • PEPE is trending towards the $0.00001079 resistance
  • A rally through the $0.00001079 resistance could see PEPE price hit $0.00001163 soon
  • A return of risk-on sentiment in the market could trigger such a rally for PEPE

PEPE (PEPE) is in the red today, reflecting the weakness across the cryptocurrency market. PEPE was trading at $0.00001027 when writing, down by 2.12%. Trading volumes are also red today, down by 4.97% to $575.4 million. This is a plus for PEPE as it means that PEPE holders are not in a hurry to liquidate their holdings despite the ongoing price weakness. The resilience of PEPE investors is likely driven by positive factors, both within PEPE itself and the broader market. 

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PEPE’s Standing Among Meme Coins Likely to Drive Bullish Narrative

Starting with PEPE-specific-factors is that PEPE is among the strongest meme coins in the market today. It has been around for a while now, which gives investors confidence that it is not a random pump and dump. At the same time, PEPE has no controlling group of individuals, and all decisions are made by the community. This significantly reduces investors’ odds of being rugpulled, as is quite common in the meme coin space. 

There is also the fact that PEPE is better known than the hundreds of meme coins in the market today. This means the average investor looking to buy memecoins will likely turn to meme coins first, then the smaller, less-known ones. The result is that the PEPE price could outperform the market in an all-out market rally. This explains why PEPE holders are not keen on liquidating their holdings despite the clear price weakness on the day.

PEPE Price Could Soar as Low Market Cap Leaves Room for Growth

At the same time, PEPE has a relatively low market cap compared to the other top meme coins such as Shiba Inu and DOGE. Even in the broader market context, PEPE’s market cap of $4.32 billion is relatively low, especially because the altcoin has not fully emerged.

As such, with expectations that altseason is coming, the odds are that the PEPE price could be headed much higher. Even hitting Dogecoin’s current market cap could mean a significant price rally from current prices. This factor could not only see the average PEPE holder keep their PEPE, but could also play a big role in attracting new investors. 

Return of Risk-On Sentiment Could Push PEPE to New Highs

At the same time, PEPE’s underlying resilience and potential to rally can be attributed to the macro environment. The US economy is one of the most important determinants of how markets move. A recent US data dump on the economy painted a picture of a weak economy. This is especially about the labour market, where the economy appears to create fewer jobs than expected. 

The weakness in the US economy has significantly raised hopes of a rate cut in September. Some analysts now believe that a rate cut of up to 50 basis points could be coming soon. The result of a move is that the markets could rally to new highs. For PEPE, which tends to outperform Bitcoin by a huge margin in bull markets. In such a case, PEPE could be in the early days of a rally that could push its price to new highs in the short to medium term.

Technical Analysis – PEPE Price Stuck In A Multi-Day Consolidation

PEPE is trading in a broad multi-day range between the $0.00001000 support and $0.00001079 resistance. However, bulls are taking control and pushing the price towards the $0.00001079 resistance. If PEPE bulls push the price through the $0.00001079 resistance, a rally to $0.00001163 could follow.

pepe
Source: TradingView

On the other hand, if bears take control and push the price through the $0.00001000 support, then a correction to prices below $0.0000098 could follow. Of these two scenarios, the odds are higher for a rally through the $0.00001079 resistance, due to the possible rate cuts in the US in September. 

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