Key Takeaways
- Bullish market sentiment for memecoins has resumed in the cryptocurrency space, as evidenced by the market rebounds of PEPE, BONK, and FLOKI.
- PEPE memecoins could see their price rally to a potential new all-time high, as their price mimics that of ETH.
- PEPE’s short-term target remains a breakout above $0.000017, which would confirm further upside.
The last few days have been looking great for many memecoins, recording over 20% gains, with the likes of BONK, FLOKI, and PEPE gaining significant social volume following a strong price breakout to the upside of Ethereum, which is currently trading around $3,400 —a figure last seen in over three months.
Ethereum’s recent price action has given altcoins and memecoins room to trend to new potential heights, following a market crash since January that has led to over 80% price crashes for many memecoins.
A notable memecoin that has garnered significant attention, with speculation suggesting its price action is similar to Ethereum’s, is PEPE coin. As the memecoin could potentially see its price rally to new all-time highs, replicating the similar price action before its market crash in Q1 and Q2 of 2025, it is worth noting.
Market Sentiment Around PEPE Memecoin
Following a strong price rally that reached a historical high of $0.000028, the price of PEPE memecoin suffered a price crash on the higher timeframe, dropping to a low of $0.000006, and has been subject to bearish price dominance for months.
Despite the price of PEPE coin making a key market breakout from its bearish price decline, the price further collapsed into a range for weeks, around $0.0000095 to $0.00001, as it struggled to make a key breakout to the upside and resume its bullish momentum.
However, recent market price action, with Bitcoin reaching new all-time highs of $123,000 and Ethereum experiencing a subsequent price rally, has given the market the needed boost for a potential rally, as prices look set to rise higher.
According to Max, a crypto trader, the price of PEPE resembles the price action of ETH, suggesting we could see a strong price rally in the coming weeks, potentially reaching new all-time highs.
PEPE Coin Price Analysis
PEPE Price Chart – Source TradingView
PEPE’s price action appears bullish following a key breakout to the upside on the daily timeframe, as the price attempts to clear key resistance above $0.000017.
If the price of PEPE memecoin trades above $0.000017 with strong bullish volume following a retest to confirm this zone as key support, the price of PEPE would see its bulls push price higher to new all-time highs of $0.00003.
The short-term target for PEPE coin remains $0.000017, which will help bulls build strong price action to reach new all-time highs.
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