Pepe Coin price has sold off as the current crypto collapse accelerates, with Bitcoin falling from its all-time high. Can the third largest meme coin bounce back and hit $1, as a popular crypto analyst expects?
Crypto Analyst Predicts Pepe Coin Price Could Reach $1
Pepe Coin price retreated this week and entered a technical bear market after falling 30% from its November high. This crash mirrors that of other meme coins like Dogecoin, Popcat and Floki.
Yet one analyst believes Pepe can still make a remarkable comeback and climb towards the dollar. In a post Cometwho has over 81,000 followers, said he purchased 1 million Pepe Coins, paying $19 for the transaction. He now hopes to become a millionaire when the coin hits $1.
Can Pépé Prize go to $1 like other meme coins like Dogwifhat, Popcat, and Peanut the Squirrel did? Pepe is trading at $0.00001824, meaning it would need to jump 5,482,352% to reach $1.
Pepe has a market capitalization of over $7.6 billion, meaning a jump to $1 would bring its valuation to $416.6 trillion, a figure larger than the combined market capitalization of all listed companies in stock market and global GDP of $105.4 trillion.
As such, even though anything is possible in the crypto industry, it is very unlikely that the price of Pepe coin will climb to $1 in the near future.
PepePrice analysis: trends indicate a rebound
In-depth technical analysis from Pepe shows that the ongoing pullback could be short-lived as the coin has formed numerous uptrends. First, Pepe is forming a falling wedge chart pattern, characterized by two descending and converging trend lines. This configuration results in a bullish breakout, especially when the two lines approach their convergence zone.
Second, this falling wedge targets the key support at $0.00001720. This is a notable level since it is the upper part of the cup and handle pattern that formed between May and November 2024. A C&H occurs when an asset forms a rounded bottom followed by of a certain consolidation. By measuring the depth of the cut, we can estimate that the coin’s target is $0.0000289.
Pepe Price therefore wants to make a model of pause and retest. This is a situation in which an asset breaks through crucial resistance, retests it, and then resumes the initial trend.
Therefore, the short-term outlook for Pepe coin price is where it retests the support at $0.00001720 and then rebounds and retests this month’s high of $0.00002591. A break above this level will push it to $0.00002891, the target of the C&H model.
The bull Pepe Price Prediction the view will become invalid if the coin falls below $0.000016. This price is a few points below the top of the cup and will direct it towards the 200-day moving average at $0.000010.
Frequently Asked Questions (FAQ)
Anything is possible in the cryptocurrency sector, but it is likely that the coin will not reach $1 as it needs to rise by almost 5.5 million percent.
For now, the most ideal Pepe forecast is $0.0000289, which was made using the cup and handle model.
A fall below support at $0.000016 will invalidate the breakout and retest pattern, indicating further downside, potentially at $0.000010.
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Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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