The crypto markets look to be entering their early bull run stage, where prices stabilize as the next major advance prepares to ignite. One asset perfectly encapsulating this consolidation after already surging 50% is PEPE. Pepe Coin, which now shows signs of its mega rally, could extend dramatically in the coming days.
The previously bullish PEPE coin commenced trading amidst a blaze of volatility but soon entered a phase where skepticism mounted around sustaining its blistering growth. Prices thus drifted lower for months as bullish momentum waned.
Also read: Ripple: How Much XRP You Need to Make $1M if Price Hits $11.26, $28.20, $56.55?
PEPE outshines DOGE and SHIB
However, all that has changed recently after PEPE finally managed to hurdle resistance levels that stifled previous rallies. In doing so with authority, the token has now gained over 50% while outshining fellow meme coins Dogecoin and Shiba Inu.
Analysis now flags a textbook inverse head and shoulders breakout on PEPE’s monthly timeframe chart following repeated failed attempts by bulls earlier to reignite the upside. This development marks a bullish technical pattern that often leads to sustained moves higher over longer durations.
Accordingly, PEPE’s exploding value propelled it into the top 100 crypto assets this week, measured by market capitalization – crossing $890 million as community interest reignites. With strong volumes backing its powerful breakout, analysts forecast this marks just the beginning of a truly parabolic moonshot ahead for the fledgling project.
Also read: Dogecoin March Price Prediction: Will DOGE Breakout Soon?
Whereas top memecoins DOGE and SHIB both mustered a relatively paltry sub-10% surge during this timeframe, PEPE’s demonstration of strength stands out as it rallies on far heavier trade activity.
Some speculate that, with Bitcoin consolidating following its push to back above $56,000, altcoin dynamics now take center stage. This period often allows sleepy crypto tokens flying under the radar to capture investor mindshare – setting the table for violent outbreaks ahead.