
PEPE to Erase One Zero? Bullish Rally Normalizing
PEPE bulls trying to make history, but market shift suggests correction might be closer than expected[...]
Meme Coin Pepe Surges Over 60% in 30 Days, Poised to Erase a Zero
The frog-themed meme coin Pepe (PEPE) has been on a remarkable run, increasing in value by 60.88% in the past 30 days. This bullish rally has defied the general market fluctuations that have impacted other meme coins, positioning Pepe to potentially erase one zero from its price.
According to CoinMarketCap data, the market sentiment is highly bullish, with investors actively trading PEPE. In the last 24 hours, the trading volume has surged by an impressive 55.47%, reaching $1.69 billion. Furthermore, technical indicators such as the relative strength index (RSI) remain below 60, indicating that the market is not overbought.
The value of PEPE has also increased by 1.04% to $0.00001413 within this time frame, rising from a low of $0.00001341 to a peak of $0.00001508 before settling at the current level.
With the increasing volume and traders' enthusiasm, the meme coin could potentially shock the broader market with a rally toward the $0.000019 price range. If this breakout is sustained amid rising volume, it could lead to PEPE flipping and erasing one zero.
However, to attain that height, PEPE must overcome certain critical resistance levels. Notably, the meme coin must find stability above $0.00001436 to attempt $0.0000160. It is only when the volume stays high above this point that a breakout is likely.
In the short term, PEPE indicators suggest it could reach between $0.00002322 and $0.000035 before the end of June, which would require a minimum increase of approximately 65%.
Although the meme coin's attempt at this ambitious climb is not unprecedented, the last 30 days suggest that it is achievable if Pepe whales, bulls, and investors all support it. The journey to erasing a zero might still take a while, with some optimistic forecasts considering this a long-term goal that could happen by 2030.