Date: Mon, August 26, 2024, 06:15 AM GMT
The cryptocurrency market has seen a surge of optimism, particularly for major memecoins and altcoins, as Bitcoin (BTC) recently soared to $64K after breaking out from its consolidation zone around $60K. This wave of positivity has had a notable impact on Pepe (PEPE), the third-largest memecoin, which has posted impressive gains of 23.95% over the past week. Currently, PEPE is trading at $0.000009075, with a market capitalization of $3.81 billion.
Analyst Predicts +300% Upside Target
A well-known analyst on the X platform, @CaptainFaibik, has caught the attention of the PEPE community with his bullish prediction. He recently shared a detailed chart analysis of PEPE’s price action, stating, “$PEPE Looks Primed for another +300% Bullish Rally in Q4.”
According to @CaptainFaibik, the key to this prediction lies in the symmetrical triangle pattern that has been forming on PEPE’s chart since March 24th. Historically, this pattern has been a strong indicator of potential price breakouts. The analyst suggests that if PEPE can break out of this pattern, it could see its price soar to around $0.000042—a staggering 295% increase from the current breakout level of $0.000012.
What’s Next for PEPE?
With the recent gains and the potential for a significant rally, PEPE is once again under the spotlight. If @CaptainFaibik’s analysis holds true, the coming months could be very exciting for PEPE investors. However, as always in the volatile world of cryptocurrencies, it’s essential to approach such predictions with cautious optimism.
For now, the crypto community will be watching closely to see if PEPE can capitalize on the current momentum and deliver the massive gains that some analysts are predicting for Q4.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice.