Pepe Coin Price Could Flip Shiba Inu As Expert Predicts ‘Perfect Storm’

by

On Tuesday, cryptocurrencies experienced a recovery with Bitcoin surging from around $88,000 to nearly $97,000 prior to the release of the US inflation report. Meanwhile, Pepe coin’s price increased as well, with one crypto expert predicting further growth that could potentially place it second in rank among meme coins, overtaking Shiba Inu.

Pepe Coin Price Could Surge And Flip Shiba Inu

On Monday, the value of Pepe plummeted to an all-time low of $0.000015, mirroring the downward trend of Bitcoin and other digital currencies, which were affected by the surge in US and worldwide bond yields.

On the other hand, some cryptocurrency experts believe the coin is caught in a powerful storm that may propel it to an unprecedented peak, surpassing Shiba Inu. They’ve drawn attention to the symmetrical triangle shape the coin has developed on its weekly graph.

The analyst anticipates that Ethereum‘s predicted price surge, which many analysts believe will push ETH past the significant resistance at $5,000, will serve as a major driving force for Pepe. This analyst envisions Pepe’s market capitalization reaching an impressive $50 billion during this bull market.

Pepe’s superior performance in the market has reduced the difference between its market value and Shiba Inu’s. Currently, Pepe’s market cap stands at more than $7.2 billion, while Shiba Inu’s is $12.6 billion. If Shiba Inu remains unchanged, for Pepe to surpass its valuation, it needs to increase by approximately 75%.

Pepe Price Technical Analysis: Could It Hit ATH?

Pepe’s daily price trend appears to be conveying conflicting messages regarding future price movements. On the optimistic front, the coin has recently tested an essential support level at $0.00001716, which marks the upper boundary of the cup and handle pattern that was formed between March and November 2024. A retest after a breakout is generally seen as a positive sign for continuation.

A promising indicator is the potential formation of a triple-bottom pattern in Pepe’s value, with the support line at approximately $0.00002826. Pepe hasn’t fallen below this point on three occasions, instead creating two unsuccessful breakout attempts, suggesting possible price stabilization.

Continuing on, Pepe continues to stay over its 100-day moving average. If these advantages hold true, the coin could potentially bounce back and challenge its 2024 peak of $0.00002826, representing a rise of approximately 65% from its current value.

From a different perspective, it appears that Pepe coin’s price structure resembles a head and shoulders pattern, with its neckline positioned at approximately $0.00001713. A head and shoulders (H&S) pattern is one of the less optimistic chart patterns. If this pattern holds true, the next significant level to focus on will be around the psychological mark at $0.000010 – representing a potential 42% drop from the current price point.

Read More

2025-01-15 07:32