Pepe Token (PEPE), the largest meme coin on Ethereum’s PoS network aside from Shiba Inu (SHIB), is looking to catch some of the parent chain’s shine. As Ether (ETH) posts the best price run in over four years, Pepe also inked 20.6% gains since last week.
PEPE Ready To Leapfrog Into a Fresh ATH?
Major-cap Ethereum (ETH) meme coins are now regarded as sleeping giants by some crypto connoisseurs, who are expecting PEPE’s price to bounce off the current $0.000012 price corridor. According to the latest analysis by Castillo Trading, the next target retest PEPE’s all-time high of $0.00002803, hit over 8 months ago, according to CoinGecko’s stats.
The question remains, can PEPE Token (PEPE) throw down the gauntlet to Dogecoin (DOGE) for the largest meme coin status? Well, both crypt currencies are standing out from the regular meme coin crowd due to daily trading volumes in the billions. However, Dogecoin (DOGE) operates on its own blockchain, running on a Proof Of Work (PoW) consensus.
PEPE’s Further Price Behavior Depends On..
Pepe Token (PEPE) is now urged to break the red-label Bollinger Band (BOLL), but in order for the crypto bulls to break through the $0.00001263, a few things have to fall in place first. Firstly, crypto whales shall not hurry to take profits like they did a week ago, when the Chaikin Money Flow (CMF) turned negative after a double-digit bounce back rally.
So far, the CMF meter stands at 0.13, which means crypto whales are still trying to get a piece of PEPE, expecting the price to rise further. Meanwhile, the Parabolic Stop & Reverse (SAR) also flashed a favorable entry point on the meme coin asset, depicted by the blue dots mirroring below PEPE’s price in the chart below.
With Ethereum (ETH) rolling past $4.7K, PEPE coin is poised to respond with a similar rally, judging by Castillo’s technical analysis and the independent research foundings by Ciphera’s team. Surely, a steady high trading volume is a must for PEPE’s way to a new all-time peak, as there’s still 56% to cover, in contrast to Ether’s 3.3% distance from the all-time record hit over 4 years ago.
On The Flipside
- The Relative Strength Index (RSI) dwells in slightly overbought territory, adding hurdles in PEPE’s short-term momentum.
Why This Matters
Often contributing towards full-fledged altcoin rallies, big-cap meme coins unite communities through internet culture, therefore often have a long-term value as an investment vehicle or a digital collectible.
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Ethereum surged past $4,700, nearing its $5,000 bull run target, fueled by $1.2B in ETF net inflows, institutional buying, and the Pectra upgrade enhancing network efficiency and deflationary pressure. Spot ETH ETF trading volume hit $1.5B daily, amplifying momentum.
PEPE, an ERC-20 token, jumped 32% in a week, riding Ethereum’s wave due to a 0.76 correlation. It’s testing resistance at $0.000018, with analysts predicting a potential new all-time high (ATH) above $0.000028362 if ETH hits $5,000.
PEPE’s rally is propelled by Ethereum’s push toward $5,000, a 20% spike in on-chain transactions, and $1.1B in daily trading volume. Social media buzz on X and speculative trading further boost its momentum.
If Ethereum sustains above $4,700 and reaches its $5,000 target, PEPE could break its ATH of $0.000028362. A symmetrical triangle pattern and rising volume suggest a potential 773% surge to $0.00010 if momentum holds.
PEPE’s top 10 wallets hold 37% of supply, risking sell-off pressure. If Ethereum fails to break $5,000 or dips below $4,391 support, PEPE could retrace to $0.0000110. Regulatory shifts or market-wide corrections also pose threats.
