Pepe (PEPE) is a popular meme coin that has seen a significant surge in its market cap recently. Currently, the price of Pepe remains stable above a critical support level. There are signs of an impending bullish trend for Pepe as on-chain data shows an upward trend. PEPE is recognized for its potential and is expected to see considerable growth in the fourth quarter of 2024 amid a surge in memecoins.

Pepe shares surge as broader market gains

The financial landscape has changed significantly following the recent US Federal Open Market Committee (FOMC) meeting. The decision to cut interest rates by 50 basis points catalyzed a sharp rise in the broader market. Bitcoin has surpassed the $62,000 mark.

Ethereum also showed strong upward momentum, currently trading above $2,400. This positive trend extended to various top meme coins, Dogecoin and Shibacoin, which rose by 4% and 7%, respectively. WIF rose by 12%, Floki rose by 8%, and Bonk rose by 6%. Notably, Popcat price surged by 29%, highlighting the enthusiastic market reaction.

Pepe prices have risen sharply, showing an upward trend. At press time, the price of PEPE in the European session was $0.057847, an increase of 8.56%. CoinMarketCap data shows that trading volume has also risen sharply to $769.32 million, an increase of 53.64%, indicating that investor interest and market activity have increased.

Can Pepe price reach $0.00001 during the market rally?

Pepe price has recently broken through the $0.000008 barrier to move into support. The move was accompanied by the Relative Strength Index (RSI) climbing above the midline, indicating bullish momentum. The Chaikin Money Flow (CMF) also showed a positive reading of 0.14, indicating volume inflows and could support recent price increases.

If this bullish momentum continues, investors can expect PEPE to spark a 30% rally to $0.000010.

The value of PEPE has increased significantly. This surge coincides with a significant increase in whale transactions, each exceeding $100,000. Sentiment data suggests that larger market players are increasingly active, driving bullish market trends.​

According to Santiment, PEPE’s trading volume has declined in recent weeks. With the recent rise in Pepe prices, investors should see this indicator rise. If successful, it would indicate that the rally will continue for a long time.

The cryptocurrency market saw a significant increase in trading volume, up 67% to $614.57 million. In addition, open interest, which represents the total number of open derivatives contracts, also grew by 18% to $90.78 million. The sharp rise in market activity indicates growing interest among investors.

Pepe is currently facing resistance at $0.0000078. If this threshold is breached, it is expected to potentially climb to $0.000008. Further momentum during the subsequent market upturn could even push its value up to $0.00001. This would represent a 31% increase. Additionally, positive trends in other cryptocurrencies could push Pepe’s price to $0.000015 in the next bullish wave.
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