A recent report from Coinpedia on Tradingview suggests that the meme cryptocurrency PEPE may experience a significant price increase in the near future. The technical analysis points to PEPE's price potentially doubling and reaching new all-time highs.

PEPE's price is currently consolidating within the Bollinger Bands, indicating a possible bullish breakout. The contraction of the Bollinger Bands on the 4-hour chart suggests that there could be a substantial price movement for the meme token.

Coinpedia's report predicts that PEPE's price could reach $0.000015, double its current value of around $0.0000075. The cryptocurrency's Relative Strength Index (RSI) is hovering near overbought levels, signaling an increase in bullish momentum.

With a market capitalization of $3.23 billion, PEPE is one of the leading meme coins and has already seen a significant 181% price increase this month. Technical patterns and strong support levels further indicate a potential price surge.

The broader recovery in cryptocurrencies, especially meme and AI-themed tokens, could provide additional momentum for PEPE. Investor interest in leading meme coins is high, with PEPE being a top contender for a bullish run according to analysts.

Coinpedia analysts also suggest that the upcoming Bitcoin halving event in April could act as a catalyst for PEPE's price rally. Historically, Bitcoin halvings have led to wider market upswings in the crypto space.

If PEPE successfully breaks out and Bitcoin continues its bullish trend, the meme coin could surpass its previous all-time high. This could result in PEPE reaching a new record price level.

Check NuggetRush ($NUGX) Invest Responsibly, Do Your Own Research.