$PEPE ’s Potential: Could It Mirror $DOGE ’s 2021 Rally?
PEPE, the trending memecoin, is gaining serious traction. Crypto analyst Cas Abbe recently outlined five reasons why PEPE might repeat Dogecoin’s legendary 2021 surge: rising trading volume, mainstream buzz, wallet accumulation by whales, strong community momentum, and a favorable technical setup across major exchanges.
Surging Metrics, Growing Hype
Following Abbe’s post on May 18, PEPE jumped 7.2% to $0.00001245. Trading volume surged 35% to $1.2B within 24 hours. This sparked DOGE-like buzz across social media, with retail traders showing increasing interest. PEPE stands out from altcoins like SOL, XRP, and BNB, thanks to its memecoin appeal and massive visibility.
Technical Signals Point to Momentum
PEPE’s RSI on the 4-hour chart reached 68 by May 19—flirting with overbought territory. MACD shows a bullish crossover, confirming short-term buying strength. Key levels to watch: support at $0.00001180, resistance at $0.00001300. A breakout could target $0.00001500.
On-Chain Growth & Retail Energy
Wallet addresses holding PEPE rose 22% to 150K. Ethereum transaction volume for PEPE hit 3.5M in 24 hours—a 40% spike. This surge echoes the community-driven energy behind past memecoin runs.
Stock-Crypto Crossplay
Interestingly, GameStop (GME) rose 3.1% on May 18, signaling rising retail risk appetite. While institutions remain cautious, retail interest in speculative plays like PEPE is climbing fast.
Caution Ahead
PEPE offers upside, but volatility is high. With Bitcoin stable near $67K and no institutional backing yet, PEPE’s path depends on sustained hype and smart trading. Watch sentiment closely.
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