Pepe, a popular meme coin, stabilized last week as sentiment in the crypto industry improved.
Weekly Stability of Pepe
Pepe's price rose to $0.00001035 on Tuesday, marking a 30% increase from this month's lowest level. Other popular meme coins, such as Fartcoin, Shiba Inu, and Dogecoin, also saw recoveries.
Factors Influencing Pepe and Other Altcoins
Geopolitical risks increased through new tariffs on steel and aluminum imports, raising US inflation. This may compel the Federal Reserve to maintain high interest rates longer. Major influencers on Pepe's price include the upcoming testimony by Federal Reserve Chair Jerome Powell and US inflation data releases.
Pepe Price Analysis and Forecasts
Pepe remains in a bearish market after falling 65% from its 2024 peak. The price dropped to $0.0000086. It is likely to rebound and possibly retest the 200-day moving average, but reaching $1 seems unlikely as it would require an astronomical increase from the current level.
Pepe shows stability despite increased interest from investors. Its price could be influenced by future economic data and Fed statements.
