Pepe Price Pumps Again, New All-Time High Next?

#Megadrop #StartInvestingInCrypto #ETHETFsApproved #altcoins #BinanceLaunchpool Pepe ($PEPE) resumed its upward trajectory on Friday, rallying by close to 7% to end the month of May.

The Pepe price currently stands at $0.0000152 and is gearing for another push towards a new all-time high. Meme coins continue to outperform most alternative asset classes during this bull run. All eyes are now on the new multi-chain token Dogeverse, which is set to go live on Uniswap on June 5th after raising north of $15 million in its ICO.

Pepe witnessed a significant pullback after reaching a new all-time high of $0.0000172 - correcting by 24% down to $0.000013 - before displaying a consolidatory price action. However, whales remain confident that Pepe will continue to be a top performer in this bull cycle. Lookonchain reveals that two whales made major investments into the token - worth $4.5 million and $3 million respectively - after Pepe’s price dropped earlier this week.

The meme coin also appears to have received a considerable boost from the favourable PCE inflation data released today. Indeed, Pepe remains strongly correlated to Bitcoin and Ethereum, both of which bounced back up after the PCE came out to be in line with the consensus expectations.

However, Pepe continues to show impressive resilience, managing to hold above the $0.000015 price level for now. The token is also witnessing impressive daily volume, which currently stands at $1.9 billion, the highest amongst meme coins.

Experts are confident that Pepe will be the meme coin to watch during this bull market.

Pepe coin already surpassed the $7 billion market capitalization earlier this week. Meanwhile, Shiba Inu continues to show tepid price action and has a market capitalization of just $15 billion. Therefore, it would not be a surprise if Pepe manages to flip Shib in the upcoming months. After all, it remains strongly correlated to Ethereum, almost acting as leveraged ETH.