Arguably the contemporary face of meme coin culture, Pepe has displayed relentless strength since its 2023 inception.

However, competition is heating up in the meme coin domain, so is Pepe still a buy? We answer this question today in our Pepe price prediction.

Pepe could outperform the market in 2024

Pepe has displayed relative strength against almost every major crypto asset since its 2023 launch. 

It is currently priced at $0.000007394, up 3% today and 49% this week but down 9% this month. It holds a $3.1 billion market cap and a $1.2 billion 24-hour trading volume.

Its market cap positions it as the 36th largest crypto, but its trading volume places it in the 11th spot, reflecting a keen market interest.

Pepe experienced 10x gains from its 2024 lows to its highs but subsequently retracted, retesting two key support levels forged on its ascent.

But following the support retests, it has displayed impressive strength, recovering over 50% of its selloff.

Based on this momentum and its exceptionally high trading volume, we could expect Pepe’s uptrend to prevail in the coming weeks.

The Pepe price chart above shows Fibonacci levels at $0.000015 and $0.000022, which could be the next resistance zones for the frog-themed meme coin.

When discussing Pepe’s strength compared to other meme coins, renowned trader Bluntz said, “Of all the major meme coins, Pepe looks the best. It has already cleared and reclaimed the (a) wave lows after turbo V reversing from the major 0.618 Fibonacci level.

Max Schwartzman, CEO of Because Bitcoin, also backs Pepe for continued bullish momentum.

“You can learn as much (if not more) from a rejection at a key level as you can from a breakout. No one enjoys a pullback, but they are necessary & health

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Author: Guest Post

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