Forecast for PEPE Coin Price: Will Ethereum’s Rise Cause PEPE to Reach a New All-Time High?
Currently, Ethereum appears to be very bullish. It has increased by 40.3% over the past 30 days. It has increased by more than 39.58% since July 8 alone. It recorded a 19.7% increase over the previous seven days.
Interestingly, pointing to the connection between Ethereum and Pepe, several analysts predict that Pepe Coin will soon reach a new peak.
PEPE Market Overview
The PEPE market was worth $0.00000926 at the start of the current month. For the first eight days of the month, it mostly remained between $0.00001079 and $0.00000917. It closed above the range on July 9, growing 8.39% in a single day. It has increased by 28.77% since then.
This price action of PEPE closely resembles Ethereum’s.
PEPE & Ethereum: Analysing the Correlation
Jake Gagain, a cryptocurrency specialist, points out that PEPE’s rise frequently follows Ethereum’s patterns. As previously stated, the Ethereum market has grown by 40.5% over the past 30 days. It has risen 19.8% to $3,566.54 in only the last seven days. The gain since July 9 has been about 36.55%.
According to ChandlerCharts, another cryptocurrency expert, Pepe often rose once ETH crossed above $3,100 and headed toward $4,000.
At the beginning of July 16, the price of Ethereum was $3,137.84. It has risen by 13.75% since then. The price of PEPE has increased by 1.90 percent over the same time frame. It jumped by at least 5.29% on July 16 alone.
Will PEPE Hit a New ATH Soon?
According to the analyst, this weekend may see the PEPE market reach a new all-time high.
Gagain points out that PEPE’s market capitalization increased by at least 32% this month. As of right now, PEPE, the second-largest meme currency by market capitalization, has a $5,525,722,126 market cap and a $4,936,965,962 24-hour volume.
PEPE reached an all-time high of $0.000028362 on December 8, 2024. The market is still at least 53.67% below its ATH as of right now.
In conclusion, PEPE may reach or exceed its own ATH if Ethereum breaks its prior highs.
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