Ethereum looks extremely bullish, right now. In the last 30 days, it has experienced a rise of 40.3%. Since July 8 alone, it has surged by over 39.58%. In the last seven days, it reported a rise of 19.7%.
Notably, highlighting the correlation between Ethereum and Pepe, some analysts suggest that Pepe Coin may soon hit a new all-time high.
Let’s analyse!
At the beginning of this month, the PEPE market was at $0.00000926. In the first eight days of the month, it majorly stayed within the range of $0.00001079 and $0.00000917. On July 9, with a single day growth of 8.39%, it closed above the range. Since then, it has surged by 28.77%.
This price action of PEPE closely resembles Ethereum’s.
Crypto analyst Jake Gagain highlights that PEPE’s growth often mirrors Ethereum’s trends. As mentioned above, in the last 30 days, the Ethereum market has seen a growth of 40.5%. In the last seven days alone, it has jumped by 19.8% to $3,566.54. Since July 9, it has climbed around 36.55%.
Another crypto analyst, identified as ChandlerCharts, notes that every time ETH moved above $3,100 toward $4,000, Pepe usually spiked.
At the start of July 16, the Ethereum price was at $3,137.84. Since then, it has increased by 13.75%. During the same period, the PEPE price has grown by 1.90%. On July 16 alone, it surged by at least 5.29%.
The analyst forecasts that the PEPE market could hit a new ATH this weekend.
Gagain highlights that, this month, the market cap of PEPE swelled by no fewer than 32%. The market cap of the second largest meme coin by market capitalization, PEPE, currently sits at $5,525,722,126, and its 24-hour volume at $4,936,965,962.
It was on December 8, 2024, that PEPE hit its All-Time High of $0.000028362. Currently, the market remains at least 53.67% below its ATH.
In conclusion, if Ethereum breaks its previous highs, PEPE could also hit or surpass its own ATH.
Yes, analysts like Jake Gagain and ChandlerCharts highlight a strong correlation, with PEPE often spiking when ETH moves above $3,100 towards $4,000.
Most predictions suggest PEPE will still be well under $1 in 2030, with some forecasting an average price around $0.00008463 or even higher to $0.0002733, depending on market conditions and community strength.
No, it’s highly unlikely. For PEPE to reach $1, its market cap would need to be in the trillions ($420.69 trillion with its current supply), far exceeding the entire crypto market.
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