Pepe

PEPE

NEXT GEN PEPE

PEPE Price Analysis: Pepe’s price hit an all-time high on May 27, 2024, but has been retracing since then. Nevertheless, investors remain hopeful for a rebound, as the price chart suggests a bullish outlook. On Monday, during European business hours, PEPE traded around $0.0001264, marking a 2.9% increase over the past 24 hours, despite a 13.5% decrease over the past 7 days. 
<h2 id="span-style-font-weight-400-pepe-price-analysis-bulls-eyes-59-gains-if-this-price-level-holds-span">PEPE Price Analysis: Bulls Eyes 59% Gains If This Price Level Holds</h2> 
<img decoding="async" class="aligncenter size-full wp-image-201429" src="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.05.jpeg" alt="PEPE Price" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.05.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.05-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.05-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.05-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.05-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px"> 
<a href="https://coingape.com/price/pepe-coin/">PEPE price</a> is trending above the 50-day and 200-day simple moving averages (SMA), albeit too close to the former. Previously, the asset’s price broke out of an ascending triangle and reached an all-time high of around $0.00001725. Following this victory, bulls relaxed as bears took over the wheel, driving the price downward to the 0.5 Fibonacci retracement level. 
The price barely touched this level (orange) before immediately bouncing back up, an indicator of strong bullish action in the markets. On a wider scale, the correction may be an expected textbook breakout and retest playing out for the ascending triangle. The 0.5 Fib retracement level coincides with the top of the ascending triangle perfectly, indicating that bulls may be waiting around this area to buy back in. 
A bounce from this level may propel PEPE price to a new all-time high of around $0.00001981. Resistance may be encountered around $0.000014 and $0.000017 on the journey to this point. On the flip side, there is a robust support structure around $0.00001 that may hold up the price in case bears overpower the bulls. 
<h2 id="span-style-font-weight-400-pepe-price-future-outlook-span">PEPE Price Future Outlook</h2> 
Pepe’s previous increase in price followed the new interest in the <a href="https://coingape.com/price-predictions/ethereum-classic-etc-price-prediction/">Ethereum</a> ecosystem following the approval of the 19-4b ETF application forms. Since then, the hype surrounding the event has died down, and Ethereum (ETH) itself has gone into a consolidation zone. 
<img decoding="async" class="aligncenter size-full wp-image-201430" src="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.19.jpeg" alt="Pepe onchain data" width="1280" height="433" srcset="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.19.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.19-300x101.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.19-1224x414.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.19-768x260.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-10-at-09.36.19-150x51.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px"> 
However, for Pepe, investors may be gearing up for something massive, as according to <a href="https://santiment.net">Santiment</a>, an on-chain analysis firm, the total holder count for PEPE (Red) is at an all-time high (218,000).&nbsp; 
Meanwhile, Santiment also reports that the total supply of PEPE tokens increased from 420.78 trillion on March 13 to 422.55 trillion on June 9, an addition of 1.77 trillion tokens worth about $22.3 million at the current price. 
According to <a href="https://www.coingecko.com/en/coins/pepe">CoinGecko</a> data, the maximum supply of PEPE is 420.69 trillion, which begs the question: how were new tokens able to be minted?&nbsp; 
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2> 
As the markets mature, meme coins will lead the bull run. Pepe investors may be gearing up to blow past the previous all-time high, but only time will tell. 
The post <a href="https://coingape.com/markets/pepe-price-analysis-pepe-rally-in-sight-as-holder-count-hits-new-highs/">PEPE Price Analysis: Is PEPE COIN Rally In Sight This Week?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

PEPE Price Analysis: Is PEPE COIN Rally In Sight This Week?

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