PEPE Price Up 16% After Arthur Hayes Endorses Pepe Coin, What’s Next?

Pepe Coin (PEPE) price has experienced a noticeable increase, mirroring a broader market upswing. The PEPE is upward, supported by recent market gains.  This trend underscores growing investor confidence in the asset, signaling a positive outlook for its future performance.

PEPE Price Rises as Arthur Hayes Withdraws Pepe Coin

Pepe price has escalated by 26% over the last week. Recent market activity shows a significant uptick in interest following Arthur Hayes’ recent endorsement. According to a tweet from Lookonchain, Hayes has promoted meme cryptocurrencies, specifically naming $MOTHER, $MOG, and $PEPE.

Arthur Hayes(@CryptoHayes) is calling for #MEMEcoins $MOTHER, $MOG and $PEPE!

On-chain data shows that he withdrew 24.39B $PEPE($252.68K) from #Binance 20 minutes ago.

Address:
0x6cd66dbdfe289ab83d7311b668ada83a12447e21 pic.twitter.com/MC9ZPF2Eg4

— Lookonchain (@lookonchain) September 27, 2024

Further details reveal that Hayes withdrew 24.39B $PEPE, valued at approximately $252.68K, from Binance, a major cryptocurrency exchange, driving investor interest.

Today, the Crypto market exhibits a robust bullish trend. Bitcoin price has rallied above $65,000, a key factor propelling the upward trajectory of other digital currencies. 

This rally is notably influencing the performance of various top meme coins. For instance, Dogecoin has risen by 9%, while SHIB has impressively surged by 16%. Additionally, WIF has increased by 7%. These gains are significantly boosting the prospects of PEPE, which is now poised for potential further gains as October approaches.

PEPE Price Eyes 90% Gain: Will It Break Critical Resistance?

The PEPE price  hovered at $0.00001068, making a solid surge of  17%. This recent performance marks a notable recovery from its lower trading value at $0.00008886, reaching a high of $0.00001045.

Pepe price has reached a critical resistance level of $0.000011. If it breaks this barrier, The value could climb to $0.000012. In the wake of a strong market rally, it might even escalate to $0.000015. With sustained market enthusiasm, the altcoin could potentially hit $0.00002, gaining more than 91% during the upcoming bullish trend.

The daily technical indicators for the PEPE price show a significant upward movement in recent trading sessions. The Relative Strength Index (RSI), currently at 73.82, suggests the asset is overbought territory, eyeing more gain.

PEPE Price Chart| Source: TradingView

Currently, the majority, or 93.62% of PEPE holders, are ‘in the money.’ This positive market sentiment and a 100% coverage rate position the token for a potential price surge as more investors may be drawn to its profitability and growing transaction volume.

Source: IntoTheBlock

Given the current market dynamics, the token trajectory appears promising. With whales like Arthur Hayes actively participating and a significant surge in Bitcoin and other meme coins, the bullish sentiment around PEPE will likely intensify. As it approaches critical resistance levels, breaking through could catalyze further substantial gains

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.