Top memin coins soared 10%, 3 Pepe price forecasts

Pepe has returned to the leading position of meme coin, rising 11.38% to US$0.0000298 in the past 24 hours. This is far better than Bitcoin's 1.01% increase. The reason for the rise is that funds are flowing into altcoins, with CoinMarketCap's altcoin seasonal index reaching 58, which means traders are more willing to take risks and trade.

Trading activity also exploded, with trading volume soaring 194% to more than US$318 million as retail traders returned to the meme market. The broader meme sector also had a strong start to the weekend, helping PEPE prices continue their rebound this month. The biggest question now is whether PEPE prices have enough momentum to break through another major resistance level, or whether buyers will face profit-taking pressure.

News drivers driving PEPE's rise

The biggest catalyst for PEPE prices is the improvement of the altcoin market. CoinMarketCap's Altcoin Seasonal Index has risen 5.45% to 58 in the past 24 hours, a reading that suggests funds are flowing from Bitcoin to more volatile cryptocurrencies. PEPE is one of the biggest beneficiaries, as meme usually performs better when traders are more willing to take on additional risks. As long as the index remains above 50, the rotation of funds towards altcoins is likely to continue.

Trading activity also exploded. Daily trading volume surged 194% to more than $318 million, well above the previous weekly average. This participation makes this rally more supportive than a rebound in low volume. Social media sentiment also improved, with traders discussing breakthrough patterns after PEPE regained its footing in the short term.

The broader memecoin market is also helping. PEPE rose nearly 10% over the weekend, while other meme coins such as Shiba Inu also rose simultaneously as Bitcoin prices stabilized above US$64,000.

CoinMarketCap also included PEPE in the list of top meme coins worthy of attention before August, pointing out that its large market value, healthy liquidity and continued accumulation of whales all support demand as long as the overall market remains positive.

Where may PEPE prices go next?

Crypto Tony expects PEPE prices to test the main resistance level.

Top analyst Crypto Tony believes that PEPE may hit US$0.000003030 in the next few days. He pointed out that there is untapped liquidity above that level, making it an attractive target if buyers remain dominant.

This is consistent with what we have observed. PEPE has rebounded from weekly lows to $0.0000290. If it can break through $0.000003030 cleanly, the next wave of buyers will take over, which could trigger a new round of buying.

Ethereum may determine the next trend of PEPE prices

Flying Dutchman believes that Ethereum is currently the key to PEPE. He bought ETH near $1,850 and remains bullish, expecting it to rise to around $2,010.

PEPE always fluctuates in sync with Ethereum in the memecoin market-when ETH performs well, traders tend to flock to riskier assets such as PEPE. If Ethereum reaches that goal, PEPE could easily achieve a larger percentage increase simply because it has a smaller market value and fluctuates faster.

Our PEPE Price Forecast

We looked at PEPE's weekly and monthly charts and found that the token is rebounding from monthly and weekly lows. PEPE is approaching an important weekly high of $0.00003133. This is the first hurdle buyers need to clear.

If the week closes above that level, the next target could be US$0.000003826, where the next weekly gap lies. If the buying intensity remains strong thereafter, about US$0.000004556 near the monthly gap will become the next target.

What about the bad situation? If $0.000003133 blocks PEPE again. Failure could cause PEPE prices to fall to fill US$0.00001567 near the three-month imbalance zone, which would become a key downside level to pay attention to when momentum wanes.

FAQs

Why are PEPE prices rising today?

The rise in PEPE prices was due to the rotation of funds from Bitcoin to altcoins, pushing the altcoin seasonal index to 58. Trading volume also surged 179% to more than $304 million, showing strong buying interest. The broader memecoin market is also moving higher, helping PEPE outperform many large cryptocurrencies.

What are the most important PEPE price levels to pay attention to?

The main resistance level is US$0.000003133. Breaking through this level may target $0.00003826, then $0.00004556. On the downside, if buyers fail to maintain momentum, the next major support level is US$0.00001567 near the three-month imbalance zone.

Can PEPE prices reach US$0.00004 this week?

If PEPE breaks through the key resistance level of US$0.00003133, the price may move towards US$0.000003826 and may hit US$0.00004556. This trend may require continued strength in the altcoin market and further gains in Ethereum, given the high historical correlation between PEPE and Ethereum.