PEPE Coin Made $0.00001156 All-Time High, What Can Happen Next?

• The Pepe crypto price has reached an all-time high (ATH) of $0.00001156.
• A massive rise of 30% has been observed in the PEPE coin price during the weekly trading session.
• The PEPE/USDT cryptocurrency pair reflects higher liquidity on popular exchanges like Binance and Bybit.

Launched in April 2023, Pepe (PEPE) is a deflationary memecoin created as a tribute to the Pepe the Frog internet meme. The project aims to position itself as one of the top meme-based cryptocurrencies, like Shiba Inu (SHIB) and Dogecoin (DOGE). The native token PEPE coin price experienced tremendous growth in Feb and Mar 2024. 

Crypto collectively recorded over 420% positive profitability during that time. Afterward, some initial profit bookings happened from the cruisers in April 2024. In the current month, the price overcame the bearish phase that started in the previous month.

Is Pepe Crypto About to See a Reversal After the ATH?

At the end of February 2024, the PEPE coin captured the attention of investors, which resulted in a positive hike in price. Intrigued by the hike, the remaining other buyers also assembled on March 1, 2024. The price surged over 300% from the $0.0000026 level. That made the $0.0000049 level a key demand zone.

Consequently, the $0.0000049 level served as a trampoline for crypto bulls on April 13, 2024. This time, the memecoin enthusiasts or buyers went all at once, surged 190%, and reached an all-time high price level of $0.00001156. At press time, a reversal could be possible if the price slips below some crucial levels.

Price Volatility & Social Dominance Analysis

The social rise in tweets significantly increased at the end of February 2024. The memecoin price was positively influenced by that uprise, resulting in massive growth. However, social dominance declined until mid-April, which reflected adverse remarks on price. 

Social sentiments have been rising since April 20, which shows the positive growth in price and increasing interest of memecoin traders.

Technical Analysis of the Pepe (PEPE/USD) Token

The short-term outlook lies above the key exponential moving averages on the bullish side. The current price is moving above the 50-day EMA, indicating bullish sentiments in technical terms.

PEPE price has shown a strong bullish movement from the $0.0000060 level. The price surged over 90%, making a new all-time high price of $0.00001156. The current candle formation shows buyers are unwilling to book the profits. This reflects buyers’ trust and price increment mindset in the current phase.

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The relative strength index (RSI) has been showing bullish momentum in price while taking constant support on the SMA line. This indicates bullish domination in the current phase. The RSI is moving at 67.13 above the SMA line.

Summary

Pepe the memecoin has shown tremendous growth in recent sessions. The crypto has delivered an almost 160% positive profitability since April 13, 2024. It made a new all-time high price level on May 15, 2024. The current price seems to be looking for a correction, and afterward, the possibility of new highs can be expected.

Technical Levels

When writing, the immediate resistance for PEPE was $0.00001156, and the $0.0000060 level was the next support. Any price movement above and below these mentioned levels can lead the price in that direction.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.