PEPE Ready To Jump? Crypto Analyst Forecasts 65% Price Surge – Here’s How

Opeyemi Sule

Last Updated: June 11, 2024 2:40 pm

3 mins read

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The PEPE meme coin has somewhat struggled in the past few months, failing to capitalize on the current bull run. However, the token seems to be experiencing some form of recovery lately, with its value seeing a significant increase over the past week.

While PEPE has obviously grabbed the attention of some investors, it also seems to be a cryptocurrency of interest amongst the experts. For instance, a popular crypto pundit on the X platform has sounded a buy alarm for the meme coin.

PEPE’s Price To Reach $0.0000017?

In a recent post on X, prominent crypto analyst Ali Martinez put forward a bullish prognosis for the price of PEPE. According to the analyst, the cryptocurrency’s current setup suggests that it is primed for a bullish run to the upside.

This bullish forecast revolves around the formation of an inverse head-and-shoulders chart pattern on the three-day timeframe. Typically, the head and shoulders price pattern depicts a bullish-to-bearish trend reversal and suggests that an upward trend is coming to an end.

A chart showing the PEPE'S head and shoulders pattern on the 3-day timeframe | Source: Ali_charts/X

An inverse head and shoulders pattern, on the other hand, is a bullish chart formation that indicates a potential reversal of a downward trend. According to Martinez, PEPE’s price is currently forming a right shoulder of the inverse head and shoulders pattern, meaning that upward price movement is on the horizon.

Furthermore, the crypto analyst mentioned that the TD (Tom Demark) Sequential indicator has gone off, sounding a buy alarm for the PEPE meme coin. With this positive signal and the bullish chart formation, Ali Martinez anticipates a bullish trajectory for the cryptocurrency in the long term.

It would be logical to wait for a break and sustained close above the neckline before confirming the bullish thesis. In this case, investors could see the price of PEPE reach as high as $0.0000017, representing a potential 65% rise from the current price point.

PEPE Price

As of this writing, PEPE’s price stands at about $0.000001015, reflecting an almost 1% decline in the past 24 hours. However, the meme coin has managed to retain most of its profit on the weekly timeframe.

According to data from CoinGecko, the PEPE token has witnessed a 10% increase in the last seven days. From a broader perspective, though, the cryptocurrency has struggled to hit the heights it once occupied.

Since the turn of the year, PEPE’s value has slumped by more than 22%. Nevertheless, the meme coin boasts a market capitalization of roughly $428 million.

PEPE price at $0.000001016 on the daily timeframe | Source: PEPEUSDT chart on TradingView

Featured image from Adobe Stock, chart from TradingView

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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