The cryptocurrency market has a strong tendency to be unpredictable. Today, while Bitcoin (BTC) struggles to break past $72,000, an unlikely hero has emerged: Pepe (PEPE), the frog-themed meme coin.
Pepe is on a buying spree, surging 11% in just 24 hours and reaching a price of $0.0000168 during Monday’s early London session. But can this meme-tastic uptrend continue?
Dive deeper to find out why Pepe is making waves in the crypto world.
Pepe’s Rise to Glory
Pepe’s value soared by a staggering 81 percent last week, catapulting it into the top 20 most valuable digital assets. Surpassing established names like Polygon (MATIC), Litecoin (LTC), and Fetch.ai (FET), Pepe’s ascent is turning heads. There’s speculation that if its bullish streak continues, it might even challenge the Shibarmy soon.
What’s Driving the Surge?
The recent approval of spot Ether ETFs in the United States injected optimism into the altcoin market, especially within the Ethereum ecosystem. Projects like Uniswap (UNI), Arbitrum (ARB), and Pepe have seen a surge in trading volume. With the ETH/BTC pair rebounding and Bitcoin dominance showing signs of a turnaround, experts anticipate a significant altseason.
Technical analysis reveals Pepe’s strength, with the weekly Relative Strength Index (RSI) holding steady above 70, indicating a strong trend. Analysts predict Pepe’s price against the US dollar could climb by 20 percent in the short term, targeting the $0.000020 mark, aligning closely with the 1.618 weekly Fibonacci Extension.
With strong technicals and a bullish market, Pepe’s future is looking bright. Are you ready to join the altcoin revolution?
