The cryptocurrency market has had its ups and downs lately. This week, several assets such as Bitcoin (BTC) and Pepe Coin (PEPE) hit new highs. The memecoin market is thriving. Amid all the doldrums in the cryptocurrency market, the frog-inspired memecoin stands out. But can PEPE hit new highs over the weekend?
Looking forward to PEPE's rebound
Over the past two weeks, the price of memecoin has increased by nearly 135%. Over the past seven days, memecoin has increased by 97%. On November 5, after Donald Trump's victory in the US presidential election, the entire currency surged, and PEPE soared along with it. After Coinbase and Robinhood verified PEPE listings on November 14, the price of the token soared further, surpassing previous peaks.
At press time, the asset is trading at $0.0000212, up 2.93% in the past 24 hours. However, it is worth noting that PEPE experienced several dips during the day.
Just yesterday, the meme coin hit an all-time high of $0.00002524. Currently, PEPE is trading 15% below this peak. This drastic drop is due to the asset being relatively new to the cryptocurrency market and being extremely volatile.
Bullish on the weekend?
It is certain that the meme cryptocurrency is set to have a bullish weekend. According to data from CoinCodex, it may be doubtful that the asset will hit new highs. But PEPE is expected to continue to surge. The cryptocurrency will be traded at $0.00002129 on Saturday, November 16, and the price on Sunday is expected to be around $0.00002246.
Considering the overall sentiment of the market, it would not be surprising if meme coins continue to hit new highs in the coming days and weeks. Especially PEPE, which despite being a late entrant into the market, has great potential.
