Pepe (PEPE) has displayed an incredible performance since its launch in April 2023. The asset’s price has rallied by thousands per cent since its debut and is up 780% since August 2023. The meme coin has quickly claimed the charts and is currently the 31st-largest crypto project by market cap.
Despite its incredible performance over the last year, the frog-themed crypto has faced a significant correction over the previous few days. Pepe is down by 0.6% in the daily charts, 3.4% in the weekly charts, and more than 31% over the past month.
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The dip might not last long as the Pepe is predicted to hit a new all-time high.
PEPE to Hit a New All-Time High?
CoinCodex’s Price Prediction
According to CoinCodex’s data, the meme coin will rally throughout September 2024. The platform anticipates the coin surpassing its all-time high of $0.00001717 on Sept. 19, 2024, and hitting $0.00001725.
CoinCodex predicts PEPE will continue rallying, hitting a high of $0.00002615 on Sept. 27, 2024. Reaching $0.00002615 from current price levels will translate to a rally of about 235.7%.
Changelly’s Less Bullish Prediction
Changelly analysts are less bullish on the meme coin than CoinCodex. The platform predicts PEPE will hit a maximum price of $0.0000124 in September 2024. Reaching $0.0000124 from current levels will entail a rally of about 59.18%.
PEPE might even go higher than predicted, given that investors will welcome the Federal Reserve’s first interest rate cut. A rate cut will likely increase inflows into risky assets like cryptocurrencies.
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Memecoins, in particular, carry more risk than other altcoins. The frog-themed asset could see an incredible rally come next month.