The bull run in PEPE price is proceeding at a breakneck pace amidst a broader market recovery. After two incredibly bullish days, the memecoin is trading at an all-time high and is set to trend upwards over the next few days.
Since it is based on the Ethereum chain, will the bull run of the Ethereum ETF give PEPE an extra boost? Will PEPE continue to lead the rally and achieve a 100x gain by 2024? Learn more in our PEPE price prediction.
PEPE Value for money
PEPE price uptrend continues to strengthen with the breakout of the descending channel. The continued rise in demand has pushed the stock above the psychological level of $0.000010 and showed a successful post-retest rebound, breaking out of the bottom.
The PEPE price surged 50% in 48 hours as the retest was successful amid a broader market recovery. This bull run formed two consecutive bullish engulfing candles and challenged the $0.000015 barrier.
Currently, PEPE price is trading at $0.0000137, hovering near its all-time highs as Ethereum’s rally pauses. Considering that the Ethereum ETF is set to be approved this Thursday, the bull run for this meme coin will continue with strong momentum.
Technical indicators:
MACD: The bullish trend in MACD and the signal line sustains the positive rebound, reflecting an increase in underlying demand.
DMI:VI line maintains positive track and ADX line grows strongly, supporting high momentum bull market.
Will the PEPE backlash result in a 100x backlash?
PEPE price has shown little weakness in the bull run as the massive uptrend progresses. Moreover, with the extremely bullish second half of 2024, this meme token has the potential to see a 100x rally.
In the short term, if the PEPE price sustains above $0.000014 today, it could reach the $0.000019 mark. Beyond that, the 2.618 Fib level has a feasible target of $0.00002782.
