Pepe to Enter Market Cap Top 30: Analyst – NewsDug
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Pepe to Enter Market Cap Top 30: Analyst – NewsDug

Analyst Crypto ZEUS is optimistic that Pepe (PEPE) will become one of the top 30 coins by market cap, underscoring its promising growth despite ongoing volatility in the crypto market.

The expert, who predicts the meme coin could soon hit $1, attributes his predictions to a recent whale who purchased 142.96 billion units for $1.26 million, signaling a potential bullish move. According to the analyst, the whale investor, known for consistently profitable trading moves, has already earned close to a million dollars trading the meme coin and plans to hold the new investment long-term. The accumulations came just a few days after Binance and MEXC saw notable Pepe withdrawals.

The analyst analyses the meme coin’s rising market rank and suggests its value is intrinsically linked to its active and supportive community. In addition, the expert identifies current regulatory pressure in the U.S. crypto scene as a significant factor affecting Pepe’s valuation. He specifically highlights Gary Gensler’s actions and a recent SEC warning to Robin Hood as potential drivers behind the coin’s suppressed price.

The speaker anticipates that shifting toward more crypto-friendly policies in the 2024 U.S. presidential election could positively impact the meme coin’s value. He further cites that such a change could lead to a bullish trend for Pepe, Bitcoin (BTC), and the broader cryptocurrency market. Analyzing the coin’s current performance, the expert mentions its market cap of around $3.6 billion and suggests it could reach a valuation of $20 billion or even $50 billion in a bullish scenario. Despite potential market challenges, the expert remains optimistic about Pepe’s future, encouraging viewers to pay attention to the coin’s growth potential and rising market rank. Analysts from 2BitCrypto also predict the meme coin is bound to explode soon.

Pepe Price Review: How Is PEPE Doing In Today’s Session?

Analyzing Pepe price charts, we see a falling wedge pattern characterized by converging trendlines as the price makes lower highs and lower lows. This pattern indicates a bullish reversal, suggesting that an upward price movement may be expected once the price breaks above the upper trendline. The price has now broken above the pattern, indicating strong bull pressure. Looking at other indicators, we see that the Relative Strength Index (RSI) is at 51.80, which is pretty neutral, suggesting that there is room for upward movement before the asset becomes overbought (typically above 70).

1-hour PEPE/USDT Chart | Source: TradingView

Conversely, the Awesome Oscillator (AO) shows a reading below zero but appears to be curving upwards, indicating increasing bullish momentum. CoinMarketCap shows that Pepe traded at $0.000008494 as of 9:49 a.m. UTC, representing a 5.37% decrease over the last 24 hours.