Over the past two weeks, crypto markets have experienced significant gains. Amidst this growth, memecoins are leading the way with substantial gains.
One such memecoin is Pepe [PEPE], which experienced a sustained uptrend over the past two weeks.
In fact, as of this writing, PEPE was trading at $0. 0000114. This marked a 44.8% increase on monthly charts, with an extension to the bullish trend by 39.07% over the past week.
Despite these gains, the memecoin remained relatively low from its recent high of $0.0001314. Equally, it was approximately 32% below its ATH of $0.000017.
Therefore, the prevailing market conditions raise questions about whether PEPEâs recent uptrend will hold or if the memecoin will experience a correction.
As such, if the prevailing conditions hold, Pepe will attempt the next significant resistance level at $0.0000119. Consequently, a correction will see the memecoin decline to $0.000009847.