Will the PEPE meme coin double? Rumors point to retesting June high
Rumors suggest that the price of meme coin (PEPE) could double and retest its June peak.
If PEPE's 4% rally sustains, the meme coin could surge above 18%.
While Shiba Inu and Dogecoin are following the rise of the meme coin, PEPE is leading the way.
There is a chance that this frog-themed cryptocurrency will return to its June 2024 high.
The frog-themed cryptocurrency Pepe (PEPE), which is among the top 30 cryptocurrencies by market cap, rose 4% on the day. While Dogecoin (DOGE) and Shiba Inu (SHIB), two other top meme coins, are lagging, the meme is likely to gain further and is leading the rally.
If PEPE’s rally continues, the meme coin could double and return to its June high.
PEPE set to rise 18%
With a gain of about 21% on Thursday, Shiba Inu led the resurgence of meme coins. As of this writing, PEPE was up 4.45%, putting it in first place in the field on Saturday. On Friday, Dogecoin and Shiba Inu both saw minor corrections.
The frog-themed cryptocurrency PEPE has broken out of a multi-month downtrend and is currently trading at $0.00001118. The fair value gap (FVG) ranges from $0.00001323 to $0.00001421, the lower limit that PEPE could reach after a further 18.74% gain.
Throughout August and early September, PEPE price faced resistance at $0.00001169.
If PEPE looks down, it could find support around the $0.00000393 low from April 13 and the $0.00001725 high from May 27, which is the 50% Fibonacci retracement level of the increase.
