PEPE Coin Hits New ATH Moving Closer to SHIB in Rankings

• PEPE Coin recorded an ATH of $0.00002748, marking a 140% growth in the past 30 days.
• PEPE Coin now holds a market cap of $11.15B, surpassing major cryptocurrencies like LTC and UNI.

In the ongoing bull cycle, PEPE, the third-largest memecoin in the crypto market, has once again hit a new all-time high (ATH) within the past 30 days. According to CoinMarketCap data, PEPE Coin reached its ATH of $0.00002748 just 4 hours ago.

This surge in PEPE’s price has propelled the memecoin to overtake well-established cryptocurrencies like Litecoin (LTC) and Uniswap (UNI), securing its position as the 20th largest cryptocurrency by market cap. At the time of writing, the PEPE price was $0.0000265, holding a market cap of $11.15 billion, signaling strong investor interest and continued bullish momentum.

Top Mememecoins by Market Cap (Source: CMC)

Despite trailing behind Dogecoin and Shiba Inu in market cap—at $65.54 billion and $18.23 billion, respectively—PEPE holds its position as the third-largest memecoin, though analysts believe it still faces an uphill battle to overtake SHIB.

The global crypto market enjoying a strong bull run, largely driven by Bitcoin’s impressive rally—above the $103K zone. Further, Ethereum’s recent price breakout, reclaiming the $4K, has boosted the entire crypto ecosystem. The surge in ETH value has positively impacted Ethereum-based tokens, driving increased interest.

This has sparked optimism across the market, benefiting major altcoins, especially memecoins. Popular meme tokens like Shiba Inu (SHIB) and Dogwifhat (WIF) have also seen exponential growth.

PEPE’s Bullish Outlook and Price Target

PEPE’s rapid rise has been a highlight in the past few days, with analysts predicting continued bullish momentum. Some are even speculating that PEPE could eventually reach the $1 milestone by 2025. However, this target remains a long way from its current ATH.

(PEPE Open Interest Source: Coinglass)

Since its launch in April 2023, PEPE has witnessed a jaw-dropping 46,373% increase. Moreover, PEPE’s open interest has surged to a new high of $369.91 million, with a 10% rise over the last 24 hours, according to Coinglass data.

PEPE Price Chart (Source: TradingView)

Looking ahead, the memecoin is currently following an ascending channel, with higher highs and lows, indicating a bullish trend as it moves between two parallel trend lines.

Zooming in, PEPE’s price is expected to trade within a bullish range. With PEPE’s strong bullish momentum, reflected in its RSI of 71 and a CMF of 0.18, analysts are optimistic about its future.

However, with signs of overbought conditions, the altcoin is expected to face resistance soon. TheNewsCrypto analysts have set a bullish price target of $0.00003600 for the token by the end of the year.

Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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