The meme coin PEPE is experiencing a price surge, rising by 40% in the last 24 hours and now trading at $0.00001263 with a market cap of around $5.5 billion.
PEPE Price Dynamics
In the past 24 hours, the meme coin PEPE has increased by 40%. It is currently trading at $0.00001263 with a market cap of about $5.5 billion. This sudden spike has caught traders' attention.
Market Analysis and Support
Crypto analyst Fyre shared a chart showing the breakout structure that indicates strong support for PEPE's price. He stated that the chart has "send me to the moon" energy and expressed his continued bullish outlook on PEPE. For weeks, PEPE had been stuck between $2.8 billion and $4.2 billion in market cap, but recently broke through resistance with high volume, signaling a potential beginning of a larger rise.
Growth Prospects for PEPE
Current key levels for PEPE are around $6.3 billion and $7.2 billion in market cap. If PEPE can break those levels, the road to $10 billion opens up. Technical analysis shows solid support around the $0.00001000 to $0.00001050 range, which was a resistance level prior to the breakout. On the upside, the next major resistance sits around $0.00001420.
With the ongoing momentum in the meme coin market, PEPE may have the potential to achieve the $10 billion mark, making it a realistic target for holders of this asset.
