PEPE has rocketed by 50% in the past 24 hours, with the Pepe price reaching $0.0000052168 as the crypto market continues to enjoy the fruits of Bitcoin ETF bullishness.
Thanks to this eye-watering jump, PEPE has now gained by 82% in a week and by 97% in the last 30 days, with the meme coin also up by more than 3,700% in relation to its lowest recorded price (set back in April 2023).
Yet with PEPE still down by 50% since its ATH of $0.000004307, it still has plenty of room left to continue rallying, particularly when some analysts are predicting that the market is only going to get more bullish over the coming months.
Pepe Price Prediction as PEPE Soars 50% in 24 Hours – Are Whales Accumulating?
PEPE’s chart is red hot at the moment, and some traders may conclude it could correct in the next few days, given that it has entered ‘overbought’ territory.
For example, its relative strength index (purple) has shot up to 85 in the past day, with any number above 70 usually signalling over exuberance.
Source: TradingView
Having said that, PEPE’s 30-day moving average (yellow) has only just climbed over the 200-day average (blue).
This means that the coin has only just opened up a bullish phase, giving it more time to continue rallying before it runs out of steam.
Indeed, PEPE’s indicators had all been low prior to this week’s movements, so the coin is arguably still selling at a discount.
And it does look particularly strong at the moment, with its 24-hour trading volume touching $900 million today.
This is the highest it has been since May 2023, when it reached its current ATH.
It seems that whales may be driving its rally, with the coin’s Etherscan token tracker showing a number various large transactions in the past 24 hours.
This is a highly likely scenario playing out for $PEPE.
A big swing to ATH over the coming days, and a gentle pull back forming a cup and handle pattern.
After this — price discovery mode.
I easily see $PEPE running to $5bn – $10bn in the short term.
Congrats frogs pic.twitter.com/er5pniNEqw
— James Wynn (@JamesWynnReal) February 27, 2024
Some analysts and traders are now predicting that PEPE could potentially beat its record high in the near term.
Of course, PEPE is a classic meme token in the sense that it doesn’t really have anything propping up its price over than hype and FOMO, so traders should be mindful that it could drop back down again at any point.
Still, it could indeed return to its ATH in the next few weeks, before its currently rally tires itself out.
New High-Potential Meme Tokens
Sponge (SPONGE) Unveils Game-Changing Staking and P2E Racing
For traders worried that PEPE may already have peaked, or for those simply wanting to diversify, there are various other, newer meme coins in the market to consider.
While most new meme coins are usually flashes in the proverbial pans, there are a select few that combine strong communities and viral marketing with some solid fundamentals.
One good example is Sponge (SPONGE), an ERC-20 cryptocurrency that has just launched its second version, which introduces a more profitable staking mechanism and will also be the native token of an upcoming P2E racing game.
Same same but different
Join the #SpongeCommunity today!#100x #SpongeV2 #Crypto #Web3 pic.twitter.com/8seEENZV9P
— $SPONGE (@spongeoneth) February 25, 2024
It has recorded an appreciation of just over 160% since listing on Uniswap earlier in the month, and is likely to rise further once it lists on other exchanges.
Smog (SMOG) Skyrockets with Airdrop Rewards
Another promising new meme coin is Smog (SMOG), a Solana- and Ethereum-based meme token that has recently listed on Jupiter and Birdeye.
Impressively, it has risen in price by over 3,000%, with the coin’s airdrop system – which rewards long-term holders more – one of the big reasons for its performance.
One newer meme token is Frog Wif Hat (FWIF), which is currently running on Ethereum but will incorporate a bridge to Solana in the near future.
Le $FWIF is still trending No.3 on #Dexscreener
Nothing can stop le #FrogWifHat #CryptoCommunity #Alts #MemeCoin #CryptoMemes pic.twitter.com/0MdrhmdG6z
— Frogwifhat (@Frogwifhat_coin) February 27, 2024
Featuring a 100% circulating supply (so no allocation to its team or marketeers), FWIF has themed itself as a French baguette-carrying frog with a beret, with this quirky styling already winning over converts online and on Uniswap.
As with the other two new coins, FWIF could really start to surge once other exchanges begin listing, potentially making all three some of the best-performing new tokens of the year.
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