Pepe Price: Will PEPE Hit $1 in 2024?
Pepe Coin (PEPE) has been one of the most trending and most highly-traded cryptocurrencies in the market for weeks now. It has experienced impressive growth in value by 700% over the past 30 days alone. This bullish momentum pushed the PEPE price to its all-time high of $0.000009885. However, the price has since dropped by 10% with the community wondering if it is the end of the road for the bulls. Nevertheless, Pepe continues to attract the interest of both investors and enthusiasts, raising questions about whether it will reach $1 in 2024.
Pepe Coin (PEPE) price is currently $$0.000008933, an increase of 8.49% in the past day. However, the trading volume of this popular meme coin built on the Ethereum blockchain has decreased by 1.4% to reach $1.45 billion. This demonstrates that trading activity regarding the coin has lessened over the past 24 hours. Nevertheless, the market cap did not disappoint, increasing by 8.43% to reach $3.75 billion, and positioning PEPE as 40th, according to CoinMarketCap. The coin has a market cap of 420.69 trillion having soared by 22% over the past week.
1. Technical Analysis
Based on the technical analysis of PEPE price, moving averages, across various timeframes, suggest a predominantly bullish sentiment, indicating ongoing positive momentum in the market. Nevertheless, the MACD indicates a possible weakening of the bullish trend, while the RSI remains at the neutral zone, showing equal levels of buying and selling activity.
Support and resistance levels identify important zones where the price could receive support or encounter resistance. At this moment, the price hovers close to the pivot point, with resistance levels estimated at $0.00000969 and $0.00001087. In the meantime, Fibonacci retracement levels indicate that there is potential support at $0.00000473 and $0.00000591.
The highest price analysts forecast the PEPE price to reach is $0.01, not even 1 cent.
