Pepe Coin Price Prediction: Analysts Foresee $25 Billion Market Cap Breakout

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As a seasoned crypto investor with over a decade of experience in this dynamic market, I’ve learned to navigate through the volatility and hype that often characterizes the cryptocurrency landscape. The recent price action of Pepe coin has piqued my interest, particularly when renowned analysts like WhaleInsider predict an imminent breakout towards a $25 billion market cap.

On Wednesday, the U.S. trading hours saw increased selling pressure in the cryptocurrency market, causing Bitcoin‘s price to dip below $67,000. This fresh wave of selling caused Pepe coin’s price prediction to decrease by 1.9%, hinting at a potential bearish collapse beneath $0.00001. Yet, experts in the crypto field predict an impending breakout for Pepe, suggesting a forthcoming upward trend that could push its market cap towards a staggering $25 billion in the short term.

Pepe Coin Price Prediction: Analysts Target $25 Billion Market Cap

Just now on Twitter, WhaleInsider pointed out a bullish pennant formation in the market capitalization graph of PEPE. In trading terminology, this pattern usually appears during an ongoing upward trend, suggesting the possibility of an extended bullish phase ahead.

Following a strong upward movement, the chart shows a temporary pause in growth as two trendlines converge, allowing buyers to regain their bullish strength. The WhaleInsider chart indicates that the PEPE market cap exhibited a similar pattern in the early part of 2024 before it spurred a surge towards $7.5 Billion.

Consequently, a forthcoming surge based on the current chart configuration might lead PEPE coin’s market capitalization to reach an impressive $25 Billion.

Right now, the cost of a single Pepe coin is at around $0.000097 with a total market value of about $4.07 Billion. If the circulation of these coins stays constant, an increase in Pepe’s market cap to $25 billion would lead to an estimated price per coin of roughly $0.000596.

For a detailed analysis, check out the Top Meme Coins article.

PEPE Investors Shift to Long-Term Holding as Exchange Supply Falls

Based on Santiment’s data, the number of PEPE tokens held on exchanges has progressively decreased from 227 trillion to 192.4 trillion since March 2024. This decrease suggests that a substantial amount of PEPE has been taken out of exchanges, which could mean less pressure to sell and a stronger belief among investors in long-term holding.

Moreover, the leading address continues to hold around 45% of the total supply, indicating a consistent stance by these significant contributors. This steadfastness in their possession implies that they are not selling their PEPE tokens, thereby bolstering faith in PEPE’s lasting prospects.

Crypto Trader Hints Major Breakout from Triangle Pattern

Cryptocurrency expert Bitcoin Meraklis points out that the forecast for Pepe coin is significant as it reaches a critical juncture within a triangle formation. This triangle-like chart structure resembles a pennant, often signaling a surge in price following a brief period of consolidation, after which the coin may experience a strong upward trend.

Traders believe that the Pepe coin’s price may find support near the lower trendline of the current triangle formation. The future direction of the Pepe coin could be impacted significantly by any upcoming fluctuations in Bitcoin’s price.

If the overall market becomes more optimistic, investors in Pepe might be able to break through the upper trendline, potentially reaching a goal of $0.000013. After that, possible targets could reach as high as $0.0000166 and even $0.000024.

Contrary to a bullish outlook, if the PEPE price breaks down below the lower trendline of its current pattern, it could intensify the selling pressure, potentially leading to an extended period of consolidation.

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2024-10-23 19:54