Pepe Coin PEPE is Gearing Up for New Highs as Memecoins Prepare for Breakout

Key Points
Pepe Coin’s breakout from a falling wedge pattern has the potential to drive a 96% price increase.
Analyst Decilizer suggests that Pepe Coin could shed a zero if Bitcoin remains bullish.
Pepe Coin surpasses the 50-day SMA, with a 105% surge in 24-hour trading volume, signaling bullish trends.
Crypto enthusiasts, brace yourselves, as memecoins are staging a remarkable comeback. Despite the recent market downturn, memecoins are thriving, with significant gains recorded in the past day. While Bitcoin and other major cryptocurrencies are struggling, memecoins are flourishing.
What is causing this sudden surge, and could it be a sign of things to come? Keep reading to find out!
Pepe Coin Leads the Way
At the forefront of this memecoin surge is Pepe Coin (PEPE), which has seen a notable 15% price increase over the past week and an 11% surge in the last 24 hours. Currently, PEPE is trading at around $0.00001185, breaking out of a period of stagnant trading.
Renowned crypto analyst Decilizer recently pointed out the positive outlook for PEPE in a tweet. He suggested that if Bitcoin maintains its bullish momentum, PEPE could see significant gains, potentially even dropping a zero from its current price.
$PEPE is gaining momentum on the charts, preparing for another upward move. If Bitcoin stays bullish, this memecoin might just reduce its price by a zero.
$SHIB and $DOGE are also stepping up to lead the charge.
There was previously an 11x surge in profits.
#memecoins pic.twitter.com/VmS9v3c7yL
— Decilizer (@decilizer) June 25, 2024
Positive Patterns and Indicators
PEPE has been in a corrective phase for approximately a month after reaching its previous all-time high. The recent price correction has formed a falling wedge pattern over the past month, which is often seen as a bullish sign indicating a potential breakout to the upside.
If this breakout occurs, PEPE’s price could surge by 96%, reaching a new all-time high of $0.00002096.
PEPE Technical Analysis
Analyzing PEPE’s price movement reveals promising signs. The coin has recently exceeded its 50-day simple moving average (SMA), which is typically viewed as a bullish signal. Additionally, PEPE’s 24-hour trading volume has increased by 105%, indicating a significant rise in investor interest.
Currently, the relative strength index (RSI) for PEPE is at 48 and is trending upwards. It has also crossed above its moving average on the daily timeframe, suggesting a potential setup for further upward movement.
Other Memecoins Join the Rally
Pepe is not the only memecoin experiencing gains in a generally bearish market. Several other meme-inspired cryptocurrencies have also seen impressive gains in the past 24 hours.
Dogwifhat (WIF), based on Solana, which gained attention earlier in 2024 by reaching a $4 billion market cap, has joined the rally, showing a 23% surge in a day. Meanwhile, Popcat (POPCAT) has experienced a remarkable 50% surge, highlighting its increasing popularity among traders.
Similarly, Mog Coin (MOG) has seen a 39% price increase, further emphasizing the trend of meme coins outperforming the broader crypto market.
Considering jumping on the memecoin bandwagon? Let us know which one has caught your eye!