Will PEPE Meme Coin Double? Rumors Point to Retesting June Highs

The frog-themed cryptocurrency Pepe (PEPE), which ranks among the top 30 cryptocurrencies by market cap, has risen 4% on the day. While Dogecoin (DOGE) and Shiba Inu (SHIB), two other top meme coins, have lagged, the meme coin is likely to gain further and is leading the rally.

If PEPE’s rally continues, the meme coin could double and return to its June highs.

PEPE Set to Surge 18%

With a gain of around 21% on Thursday, Shiba Inu has led the resurgence of meme coins. As of this writing, PEPE is up 4.45%, putting it in first place in the sector on Saturday. On Friday, Dogecoin and Shiba Inu both saw minor corrections.

The frog-themed cryptocurrency PEPE broke out of a multi-month downtrend and is currently trading at $0.00001118. The fair value gap (FVG) ranges from $0.00001323 to $0.00001421, the lower limit that PEPE can reach after rising by 18.74%.

Throughout August and early September, PEPE’s price faced resistance at $0.00001169.

If PEPE looks down, it could find support around the low of $0.00000393 from April 13 and the high of $0.00001725 from May 27, which is the 50% Fibonacci retracement of the rally.