Will Pepecoin (PEPE) Price Achieve a 10x-15x Rally in 2024?
This week, Pepecoin (PEPE) saw a remarkable 65% surge, indicating strong momentum and buying interest. As the broader market recovers, with Bitcoin nearing $69,000 and Ethereum ETF approvals, the potential for a bull run in meme coins is increasing.
With rising demand for cryptocurrencies, will meme coins see explosive growth this year? Can PEPE achieve a 10x to 15x rally in 2024? Could it even reach $1 by 2030? Explore these possibilities in our PEPE price prediction.
### PEPE Price Performance
PEPE has broken out from a rounding bottom pattern on the daily chart, surpassing the key psychological level of $0.00001. This breakout has extended the bullish trend, resulting in a 65% increase this week and boosting the meme coin's market value by 178% over the past five weeks.
Over a longer period, PEPE has surged by nearly 1300% in the last 14 weeks, reflecting significant demand in the retail market. This week's 65% rise has formed a bullish engulfing candle on the weekly chart.
Currently, PEPE is trading at $0.00001510, with a 6.82% intraday increase, recovering from a 5.26% decline the previous night.
### Technical Indicators
- **RSI**: The daily RSI remains in the overbought zone, indicating strong demand.
### Will PEPE Rally by 1000%?
The bullish trend on the daily chart continues above the 100% trend-based Fibonacci level at $0.000015. As the trend progresses, especially after the rounding bottom breakout, PEPE is expected to exceed the $0.00002 mark. Beyond this, it could aim for the 2.618% trend-based Fibonacci level at $0.0000277.
In the long term, with upcoming bullish catalysts in the crypto market, such as the Uptober rally, alt season, and potential rate cuts, PEPE could surge even higher. Thus, a 10x-15x rally in PEPE price is a realistic target for 2024, given the growing buying pressure.
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