Among the memecoins, PEPE has become a leading performer, showing remarkable gains. Over the last month alone, this memecoin has risen by almost 630%, while it has appreciated by 132% in just one week. According to CoinMarketCap data, PEPE made its new ATH at $0.000008585.
PEPE’s price increase can be attributed to significant accumulation by major investors. Over the last ten days alone, both institutional and retail traders have picked up almost 48 trillion PEPE tokens valued collectively at $385 million.
After reaching ATH, PEPE retraces back to $0.000005051. At the time of writing, its price stands at $0.056765, with a 24-hour trading volume amounting to $1.87 billion and a market capitalization of $2.85 billion. PEPE’s price has gone down by 13.41% in the past 24 hours.
PEPE’s Resilience & Potential for Growth
Crypto analyst James Wynn recently shared insights into PEPE’s remarkable resilience. Despite fluctuations, PEPE has displayed notable strength by bouncing back against the momentum line. This indicates a potential for further upward momentum and suggests that investors should remain alert for potential opportunities.
Wynn’s analysis suggests that PEPE may have more room to grow before potentially entering into a parabolic rally, advising investors to stay prepared for another significant surge. Looking ahead, Wynn forecasts a substantial range for PEPE’s next major move, estimating it to be between $6.9 billion to $17 billion. Such a projection underscores the significant potential for growth that Wynn sees in PEPE, positioning it as an asset worthy of close attention.
In addition to his insights on PEPE, Wynn also hints at broader market trends, suggesting the possibility of an impending “alt season.”Furthermore, Wynn notes the potential breakout of Ethereum, indicating that the leading altcoin could see significant price appreciation in the near future.
