🐸 Pepe Coin Price Prediction: Analysts Forecasts 1,400% Surge as Historical Patterns Resurface
Analysts predict a 1400% surge for Pepe coin price as historical patterns and wave analysis signal a major rally.
During the Monday Asian market session, the cryptocurrency market showcased a neutral stance after a notable correction last week. As the pioneer cryptocurrency, Bitcoin, holds its position above $68,000, the altcoin market shows potential for bottom formation. Amid the U.S. presidential election, crypto analysts highlight a repetitive pattern in Pepe coin price prediction, signaling the potential for a 1,400% surge.
🔸 Analysts Predict 1,400% Rally for Pepe Coin Price Prediction as Historical Patterns Emerge
In a recent tweet, crypto analyst Waleed.Eth shared an interesting wave formation in Pepe coin price prediction, which sparked the bull run from February to May 2024. The initial allocation marked in mid-2023 sets the stage for a defined Wave 1, characterized by progressive upward movement and resistance points labeled as Top 1 and Top 2.
Furthermore, the PEPE price witnessed a post-rally correction to recuperate the exhausted bullish momentum for the actual rally. The downturn offers a fake breakdown below the 200 Exponential moving average as a shake-out to remove weak hands from the market and attract long-term investors.
Over the past eight months, the PEPE coin price prediction showed a similar structure of 2 tops and a fake breakdown below the 200 EMA. If history repeats, the analysts predict a third-wave rally for Pepe coin to target $0.000118, registering a potential growth of 1400%. Consecutively, the asset’s market cap could hit $50 Billion.
🔸 Short-Term Investor Risks Grow as MVRV Drops Below Zero
According to Santiment data, the 30-day Market Value to Realized Value (MVRV) ratio recently dropped to -16%. The MVRV indicator is crucial for assessing overbought or oversold conditions, signaling potential market reversals and opportunities for strategic accumulation.
