Analyst Signals $25B Market Cap Surge Soon
The post Analyst Signals $25B Market Cap Surge Soon appeared on BitcoinEthereumNews.com.
During Wednesday’s U.S. market session, the crypto market witnessed a surge in selling pressure as Bitcoin price fell below $67,000. The renewed selling pressure led to a 1.9% decline in Pepe coin price prediction, teasing a bearish breakdown below $0.00001. However, renowned crypto highlights an imminent breakout for Pepe, forecasting a rally toward a $25 billion market cap in the near future. Pepe Coin Price Prediction: Analysts Target $25 Billion Market Cap In a recent tweet, WhaleInsider highlights a bullish pennant pattern in PEPE’s market cap chart. In technical analysis, this chart setup is often spotted in an established uptrend, projecting the potential for a prolonged bullish trend. After a significant uptrend, the chart pattern drives a temporary consolidation within two converging trendlines for buyers to recuperate the bullish momentum. WhaleInsider chart accentuates the PEPE market cap formed a similar pattern in the first half of 2024 before it triggered a rally to $7.5 Billion. Thus, an imminent breakout from the chart setup could drive the PEPE coin market cap to $25 Billion market cap. PEPE Market Cap The Pepe coin price prediction currently trades at $0.000097 with a market cap of $4.07 Billion. If the circulating supply remains the same, a surge in Pepe’s market cap to $25 billion would boost its price to approximately $0.000596. For a detailed analysis, check out the Top Meme Coins article. PEPE Investors Shift to Long-Term Holding as Exchange Supply Falls According to Santiment data, the PEPE supply on exchange has steadily declined from 227 Trillion to 192.4 Trillion since March 2024. This decline implies that a significant amount of PEPE has been withdrawn from exchanges, indicating reduced selling pressure and increased long-term holding sentiment among investors. In addition, the supply held by the top address has remained steady at 45%. The stability…
Filed under: News - @ October 23, 2024 10:20 pm