No meme coin has captivated investors as much as Pepe since its 2023 inception.
The frog-themed joke token has become one of the 25 most valuable cryptocurrencies, but not without some recent struggles. Will it rebound in the coming months?
CoinMarketCap has released a new market sentiment aggregator, which shows a 59% bullish market outlook for Pepe.
And judging by predictions on social media, it seems the project’s lows might be in.
Pepe is currently trading at $0.00000771.
It is up 4.7% today but down 4.5% this week and 38% this month.
Nevertheless, it remains in a solid position to this time one year ago, trading at a 584% premium.
Pepe peaked in late May, creating an all-time high (ATH) of $0.00001718, but has since tumbled and is down 55%.
Analyst Slick eyes Pepe’s 200-day exponential moving average (EMA) as a key indicator in its trajectory.
Right now, Pepe is trading under the EMA.
However, Slick anticipates a break above in the coming weeks, which will mark a shift into bullish momentum, sparking Pepe’s next rally.
The analyst did not specify how far he thinks Pepe could go, but he did show a pathway to beyond $0.00003 on the price chart.
From its current price, this would equate to a 322% gain.
According to the chart, the 200-day EMA is around the $0.000008 level. Pepe must cross this to begin its ascent.
In the shorter term, analyst Polaris_xbt is bracing for a Pepe bounce.
He notes that it is currently trading at old levels, and provides two strong support zones.
The first is around $0.000006 and the second is around $0.000002.
Indeed, should Pepe not bounce at the $0.000006 zone, falling to $0.000002 would result in serious selling pressure.
Nevertheless, the overarching sentiment for Pepe is bullish right now.
But while it flip-flops around previous trading levels, a new Pepe-related meme coin is brewing a storm on its market debut.
It’s called Pepe Unchained and is currently undergoing a presale.
While embracing the iconic memetic allure of Pepe, Pepe Unchained brings something new to the market.
It will be the first meme coin with its blockchain.
The team is building “Pepe chain,” an Ethereum layer 2 that offers faster speeds and lower fees than the Ethereum main network.
Pepe chain will have its own dedicated Ethereum bridge, making moving funds between the two networks seamless.
It will also have a block explorer, ensuring the network is open and transparent like Ethereum and fellow layer 2s.
Lastly, the blockchain has a staking mechanism that provides massive rewards.
Currently, users can garner a 208% APY.
All of this is causing a massive buzz.
And it’s not just retail investors – industry experts are backing $PEPU as well.
For instance, ClayBro suggests it could be 100x in value.
The analyst suggests that the broader crypto market is poised for a bullish recovery in the coming months, which could enable Pepe Unchained to explode because of its low price.
Right now, investors can buy $PEPU at presale for $0.009163.
However, the price will rise throughout the campaign, so potential investors should act quickly.
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