YEREVAN (CoinChapter.com) — PEPE’s price surged by 55.27% over the past week, trading at $0.00001281, bringing its total year-to-date (YTD) gains beyond 1,000%. This rise comes amid a broader market rally led by Bitcoin, which recently hit $88,000. PEPE’s weekly performance highlights an 80% growth, positioning it as one of the leading meme coins in the ongoing bullish trend.
PEPE Coin Rallies 55% in 7 Days. Source: CoinMarketCap
Meme coins like PEPE often see significant gains during market upswings. Their low cost per unit makes them accessible to a broad base of investors, while their volatility offers a potentially high risk-reward structure. Shiba Inu (SHIB) saw unprecedented gains in 2021, rising over 1,000,000%, which brought substantial profits to early holders.
Market Confidence Boosted by Trump Election Victory
The market’s current optimism follows Donald Trump’s recent election win, seen by some as a favorable outcome for the cryptocurrency industry. This sentiment has contributed to rising prices across digital assets, including PEPE. However, PEPE’s position as one of the top gainers during this rally also makes it more vulnerable to potential profit-taking sell-offs by investors.
Unlike Dogecoin (DOGE) and Shiba Inu (SHIB), PEPE has yet to attract significant interest from institutional investors, mainly due to its high volatility. Many large-scale investors view this as a sign of instability, which has limited PEPE’s appeal outside of retail trading circles.
PEPE Price Analysis: Resistance and Support Levels to Monitor
The upward momentum in PEPE’s price indicates the possibility of further gains. The immediate resistance is expected at $0.0000146 if the price crosses the $0.0000142 mark. A continuation beyond this level may push PEPE toward the next resistance at $0.0000148.
PEPE Price Analysis: Key Resistance and Support Levels. Source: TradingView
On the downside, a move below $0.0000142 would shift control to the sellers. In that case, initial support is expected at $0.0000140. Further declines could see PEPE testing lower support at $0.0000137. This would challenge the bullish trend that has fueled recent gains.
Above all, the PEPE price trend will depend on market momentum and broader cryptocurrency developments.
The post PEPE Price Surges Over 1,000% YTD Amid Market Rally: Can It Match SHIB’s 2021 Success? appeared first on CoinChapter.
