PEPE Breakout from 6 Months of Consolidation, How Much Can It Reach?

Bittime - Meme coin PEPE is stealing attention after experiencing a breakout from a 6-month consolidation. PEPE managed to record an increase of up to 38% in the last seven days. This coin even outperforms other meme coins that have a larger market capitalization, such as Dogecoin and Shiba Inu.

This increase brings PEPE out of the price decline pattern that has been going on for the last six months. This significant breakthrough was first revealed by renowned crypto analyst, Captain Faibik, via social media platform X (formerly known as Twitter).

PEPE Breakout of Symmetrical Consolidation Pattern

According to Captain Faibik, PEPE's recent price movement managed to break out of a symmetrical triangle pattern, a technical formation that reflects a period of price consolidation for half a year or 6 months. 

In a PEPE / Tether US chart shared on 

Read also: PEPE Memecoin Price Prediction

The price movement pattern during this period is characterized by lower peaks and higher bases, which form a symmetrical triangle pattern.

However, a 38% gain in the past few days allowed PEPE to break through the upper resistance trendline of the triangle pattern, paving the way for potential further price increases.

PEPE Price Prediction goes up to 351%

With confirmation of this breakthrough, Captain Faibik estimates that PEPE is ready to reach new highs. He predicts that this meme coin will experience a surge to reach a price of $0.00003214 (around Rp. 0.49), which means PEPE will soar by 351.69% from its current breakthrough point.

To achieve this price target, PEPE must enter a new price area that has never been reached before. Based on PEPE's price history and crypto market conditions which are predicted to experience a bullish rally in the fourth quarter of this year, this price spike is very likely to occur.

However, as with other meme coins, PEPE price movements are expected to be very volatile and change quickly. This is due to the nature of investment in meme coins which is highly influenced by general crypto market sentiment, especially price movements of major crypto assets such as Bitcoin, Ethereum, and Dogecoin.

Balso: PEPE Coin Price Prediction 2024 -2030

Comparison of PEPE with Other Meme Coins

Source: Bittime

When this article was written, PEPE was trading at $0.00001132 (around IDR 0.17), maintaining its 38% gain in the past week. Other meme coins also saw price increases during the same period. 

Shiba Inu (SHIB) rose by 32%, Dogwifhat (WIF) jumped 33%, Bonk (BONK) rose 30%, and Floki (FLOKI) added 23%.

Meanwhile, Dogecoin (DOGE), the king of meme coins, experienced a smaller increase, namely 17% in the last seven days. This increase is expected to continue as the market remains bullish in the coming weeks.

The crypto market continues to show dynamic movements, and PEPE along with other meme coins still seems to have great potential to continue growing. However, investors are reminded to remain careful in facing high volatility in this sector.

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