Pepe (PEPE), the frog-themed meme coin, has increased in value in the last 30 days by 60.88%. This confirms that the meme coin has been on a steady rise. Despite general market fluctuations that have hit other meme coins in the ecosystem, Pepe’s bullish rally could see it erase one zero from its price.
PEPE’s volume spikes, RSI supports further growth
According to CoinMarketCap data, market sentiment is bullish, as investors are heavily transacting PEPE. In the last 24 hours, trading volume has increased massively by 55.47% to $1.69 billion. Meanwhile, technical indicators such as the relative strength index (RSI) are less than 60, showing that the market is not overbought.
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The value of PEPE has also increased by 1.04% to $0.00001413 within this time frame. Pepe had jumped from a low of $0.00001341 following strong demand to a peak of $0.00001508 before settling at the current level.
With the increasing volume and traders’ enthusiasm, the meme,coin could shock the broader market with a rally toward the $0.000019 price range. If sustained amid rising volume, such a breakout could see PEPE flip and erase 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 volume stays high above this point that a breakout is likely.
Could Pepe rally to short-term target of $0.000035?
In the short term, PEPE indicators suggest it could reach between $0.00002322 and $0.000035 before the end of June. This requires Pepe to experience a minimum of approximately 65% increase.
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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. Some optimistic forecasts consider this a long-term goal that could happen by 2030.
