Pepe Coin price could be on the cusp of a mega bullish breakout as technicals and fundamentals align. One PEPE token goes for $0.000008150 and has shown signs that it is bottoming. This article provides a timeline for when PEPE price will rise by 7,220% as Ethereum drops to a legendary level.
Pepe Coin Price to Rebound as Ethereum Drops to ‘Legendary’ Level
One reason the PEPE price has imploded this year is that Ethereum has been in a free fall, moving from $4,100 in November to $1,600 today. In some cases, meme coins drop as their main blockchain falls, and vice versa.
Therefore, a potential Ethereum price rebound would boost PEPE, the second-biggest meme coin in its ecosystem after Shiba Inu. One crypto analyst has taken a contrarian view and predicted that ETH is about to surge after falling to a so-called legendary level.
He used a three-month candlestick chart of the ETH/BTC pair and identified a double-bottom pattern at 0.01730. The neckline of this pattern was at 0.08825. Therefore, he believes that the token ETH price will eventually rebound and move from the current $1,600 and rise by 525% to get to $10,000 over time.
The risk, however, is where the ETH/BTC price falls below the double-bottom pattern and invalidates the bullish view. Such a move would also trigger more downside. The other risk is that the Ethereum Foundation is selling ETH, and it has formed a triple-top pattern on the weekly chart.
Can PEPE Surge by 7,220% to $0.0005856?
A strong Ethereum price surge would trigger more upside for Pepe Coin. However, it is highly unlikely that the coin will have a strong bullish breakout of about 7,220% and get to $0.00005856.
For that to happen, ETH needs to be in a strong bullish rally from the current $1,600 to $10,000 and above. Historically, PEPE tends to do well when the value of ETH is doing well. It will likely take a few years for ETH to reach $10,000, based on its historical performance.
Pepe Coin Price Prediction for 2025
On the positive side, there are signs that the Pepe Coin price is on the verge of a strong bullish rally that could push it to its all-time high. It has formed a tiny double-bottom pattern at $0.0000057. Combined with its lowest swing in July last year, it means that it has formed a giant triple-bottom pattern whose neckline is at its all-time high of $0.00002835.
PEPE price also formed a falling wedge and a bullish divergence pattern. Therefore, the coin will likely keep rising as buyers target the all-time high, which is about 250% above the current level. This positive PEPE price coin prediction will become invalid if it drops below the triple-bottom low of $0.000058.
Frequently Asked Questions (FAQs)
While a surge from the current $0.0000081 to $0.00058 is possible, it will likely take many years for that to happen.
ETH price has formed a double-bottom pattern on the three-month chart when compared to Bitcoin. That is a sign that it will bounce back eventually. However, it has also formed a triple-top pattern on the weekly chart, signaling more downside.
There are signs that the PEPE price has bottomed, meaning that its most optimistic forecast is its all-time high, which is about 250% above the current level.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/here-is-the-timeline-for-pepe-coin-price-to-rise-7220-as-ethereum-hits-legendary-level/
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