Pepe Price Surges as Vitalik Buterin Buys Big, Can it Reach $1?

In the recent past, the crypto market witnessed a rather unexpected turn when the co-founder of Ethereum, Vitalik Buterin, bought a significant amount of PEPE token, a memecoin. This acquisition entailed 508.6 million PEPE tokens, based on the blockchain transaction data. The large acquisition has sparked market debate and people are speculating whether PEPE’s price will rise to $1.

Vitalik Buterin’s Influence on PEPE Price

Notably, attention has been directed to meme coins after Vitalik Buterin acquired the large number of PEPE tokens. This token has attracted different levels of investment from investors in the past years.

Vitalik has been quite involved in the crypto industry. He often has the potential to bring more focus and funds towards particular projects. The market is now watching PEPE price to see if this endorsement can lead to a lasting rise.

Consequently, Buterin’s move is a financial decision and a recognition of the potential of the meme coin industry. The amount of purchase is roughly $10,500, which is relatively small in financial terms. Nevertheless, it accounts for a large number of tokens which can be perceived as a signal of Vitalik’s confidence in the further growth of the asset.

Technical Outlook on PEPE Coin

More so, the technical analysis offers two possibilities for the near future of PEPE price in the market. The RSI is at 39, suggesting bearish pressure. It has not yet broken out of the lower side of the 50 neutral range. However, the MACD gives a somewhat different outlook: the MACD line is located below the signal line which indicates that traders are cautious.

Despite some bearish signals on the part of certain indicators, the histogram shows that the negative bars are gradually decreasing in size, which means a reduction in the sales’ pressure. This could be a consolidation zone for PEPE with the possibility of a breakout if the broader market conditions turn positive.

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Besides, analysts have highlighted the $0.00001500 support level which has been holding well in the recent past. A quick rebound from this level may push the coin towards the $0.00002000 mark and beyond.

PEPE Crypto Price Trends and Market Reactions

In the last year, the PEPE price has skyrocketed by 1201%. This growth trajectory is in line with the renewed interest in meme coins which have been on an upward trajectory seen in the broader crypto space. Additionally, as Bitcoin and the other major cryptocurrencies continue to hit new all time highs, other tokens like PEPE, a meme coin, have surged too.

Amid the growing interest in top meme coins, the new US President Donald Trump launched the TRUMP meme coin on Solana.

The coin achieved unprecedented success, crossing a $1 billion market cap in under 24 hours, outperforming previous records. Fully diluted volume soared to $17 billion, driven by robust demand. TRUMP meme coin rallied 205% on its first trading day, signaling strong investor interest.

At press time, Pepe (PEPE) price traded at $0.00001514, down 11.21% over the last 24 hours. The price has been trending downward, with volume up significantly by 54.82%, indicating a surge in selling pressure. Key support is observed at the $0.00001500 level with resistance at $0.0000200.