Pepe Coin (PEPE) Price Prediction 2024: How much can it rise by the end of the year?

Bittime -  What will the price of PEPE be at the end of 2024? The following is a price prediction for the PEPE meme coin. But before that, let's first find out what PEPE Coin is and the factors that can push the price of Pepe Coin up.

The PEPE meme coin has now become a trend among the existing meme coins. PEPE with the frog character icon is now valuable $10 billion (around IDR 160 trillion) in terms of market cap by December 2024. 

However, as PEPE prices have risen recently, many wonder what will happen to PEPE prices in 2024? This article will review PEPE price projections based on current market trends and several factors that influence its movement.

What is PEPE Coin?

PEPE Coin is a crypto token belonging to the meme coin category developed on the Ethereum (ERC-20) network. Pepe Coin is inspired by the PEPE frog character which is widely known on the internet. Based on information from the official website, the total supply of Pepe Coin is 420,690,000,000,000 PEPE.

While many meme tokens appear quickly and disappear without a trace, PEPE Coin has managed to attract attention due to its strong fan base and potential to be an alternative to other better known meme tokens, such as Dogecoin (DOGE) and Shiba Inu (SHIB).

The token emerged as part of a much-discussed meme coin trend on social media, with investors attracted by the potential for huge profits from high price volatility.

PEPE Price Today

At the time this article was written on December 9, the price of PEPE Coin was around $0.00002477 (around IDR 0.396) with a market capitalization of more than $10.67 billion (around IDR 170.72 trillion). 

This price was recorded to have experienced a sharp jump of up to 18% on December 8, after previously being in the price range of $0.000021 (Rp. 0.336) based on Bittime data.

PEPE Passes Litecoin (LTC) in Market Cap

The price spike pushed PEPE to 21st position on the list of 100 cryptocurrencies with the largest market capitalization, overtaking Litecoin (LTC) and Uniswap (UNI). 

Additionally, PEPE is also experiencing increased network activity, with data showing an increase in the number of active addresses and new users, indicating increased demand for the token.

PEPE Price Prediction 2024

In the analysis, experts observed that PEPE Coin relies on a viral phenomenon on social media, which drives new users' interest in buying and selling this token. 

This is reflected in the significant increase in PEPE trading volume, which even managed to overtake Litecoin in terms of market capitalization in early December 2024. The following are several factors that caused the price of PEPE to rise.

Factors Affecting PEPE Prices

Several factors that influence PEPE price movements include community activity, trading volume, and overall meme coin market development. 

Apart from that, prices are also influenced by social media trends and growing adoption, especially among the younger generation who are actively investing in crypto assets.

Analysis PEPE Price

Seeing PEPE's price trend continuing to strengthen, analysts estimate that this token has the potential to continue to experience price increases, even though it is accompanied by price fluctuations. Based on technical analysis and historical data, the following is the PEPE price prediction for 2024.

Pepe (PEPE), an Ethereum-based meme coin, is leading the ongoing meme coin rally. At the beginning of Sunday, PEPE's price reached an all-time high of $0.00002644 (around Rp. 0.42), pushing its market capitalization past $11 billion (Rp. 176 trillion).

However, the price of this coin experienced a slight correction and is now at $0.00002477 (Rp. 0.40). Despite this, many analysts believe that PEPE still has the potential to continue its upward trend. 

This was driven by PEPE's success in breaking the long-term resistance trend line, which indicates further bullish momentum.

Pepe (PEPE) Price Prediction: Chance to Break New All Time High (ATH).

The PEPE meme coin price continues to show great potential with the possibility of reaching a new all-time high. The latest technical analysis shows that PEPE's momentum tends to move in a positive direction, after the Moving Average Convergence Divergence (MACD) indicator moved from the negative to positive area.

MACD is a technical analysis tool used to measure price momentum by comparing two exponential moving averages (EMA), namely 12 periods and 26 periods. 

When the shorter EMA (12) crosses above the longer EMA (26), it indicates bullish momentum. In this case, this condition has been achieved, which indicates the potential for PEPE to break through the resistance level at $0.000025 (around Rp. 0.40).

If this happens, PEPE price has the potential to continue its increase towards the level of $0.000030 (Rp.0.48). However, there are also risks if the market reverses. 

If selling (bearish) pressure moves the price down from that level again, the price could fall back to $0.000015 (Rp. 0.24). In this scenario, PEPE's market capitalization could decline below $10 billion (Rp. 160 trillion).

These price movements will be heavily influenced by overall market sentiment, as well as external factors that may influence investment flows in this meme coin. Therefore, investors are expected to continue to monitor market developments and other technical indicators which can provide a clearer picture of the future direction of PEPE prices.

Potential for Ups and Downs

PEPE Coin has the potential to reach a high of $0.000090 (Rp. 1.44) by the end of 2024, driven by increased trading activity and wider recognition of this meme coin. 

However, like other meme coins, PEPE also has the potential to experience a significant price decline, especially if there is a major change in crypto market dynamics or a decline in interest from the community.

Conclusion

PEPE Coin has proven itself to be one of the best performing meme coins in the crypto market, with an impressive market capitalization and rapid price growth. Despite the huge potential, investors should remain cautious given the high volatility inherent in PEPE and other meme coins.

If you are interested in investing in PEPE, make sure to monitor market developments and consider existing risk factors. Plus, PEPE has a community that continues to grow, accompanied by increasing interest in meme coin assets, PEPE Coin has the potential to continue its bullish journey in 2024. 

FAQ

What is PEPE Coin?

PEPE Coin is a crypto token belonging to the meme coin category developed on the Ethereum (ERC-20) network. The total supply of Pepe Coin is 420,690,000,000,000 PEPE. Pepe Coin is inspired by the PEPE frog character which is widely known on the internet. 

What is PEPE's Highest Price (ATH)?

Pepe Coin (PEPE) broke its all-time high price at $0.00002748 or the equivalent of IDR 0.4 recorded on December 9, 2024. 

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Reference

Cryptopotato, Memecoin Price Pumping, Accessed December 9, 2024
CoinMarketCap, Pepe Price Today, Accessed December 9, 2024
Baby, Pepe Coin Tokenomics, Accessed December 9, 2024