Will Pepe Price Realistically Hit $1?

Pepe price has sold off as the ongoing crypto meltdown accelerates. Can the third-biggest meme coin bounce back and hit $1, as one popular crypto analyst expects?

Crypto Analyst Predicts Pepe Price Can Hit $1

Pepe price has retreated this week and moved into a technical bear market after falling by 30% from its November high. This crash mirrors that of other meme coins like Dogecoin, Popcat, and Floki. 

Still, one analyst believes that Pepe Coin can still stage a remarkable comeback and surge to $. In an X post, Comet, who has more than 81,000 followers, said that he bought 1 million Pepe coins, paying $19 for the transaction. He now expects that he will become a millionaire when the coin jumps to $1. 

Crypto Analyst Sees Pepe Hitting $1

Can Pepe price jump to $1 as some other meme coins like Dogwifhat, Popcat, and Peanut the Squirrel have done? Pepe trades at $0.00001824, meaning that it would need to jump by 5,482,352% to get to $1. 

Pepe has a market cap of over $7.6 billion, meaning that a jump to $1 would bring its valuation to $416.6 trillion, a figure that is higher than the combined market cap of all publicly traded companies and the world GDP of $105.4 trillion. 

As such, while anything is possible in the crypto industry, it is highly unlikely that Pepe coin price will jump to $1 any time soon. 

Pepe Coin Price Analysis: Patterns Point To A Rebound

A keen technical analysis of Pepe shows that the ongoing pullback may be short-lived as the coin has formed numerous bullish patterns. First, Pepe is in the process of forming a falling wedge chart pattern, which is characterized by two falling and converging trendlines. This pattern results into a bullish breakout, especially when the two lines near their convergence zone. 

Second, this falling wedge is aiming at the key support at $0.00001720. That is a notable level since it was the upper side of the cup and handle pattern that formed between May and November 2024. A C&H happens when an asset forms a rounded bottom followed by some consolidation. By measuring the depth of the cup, we can estimate that the target for the coin is $0.0000289. 

Pepe price, therefore, wants to do a break and retest pattern. This is a situation where an asset rises above a crucial resistance, retests it, and then resumes the original trend. 

Therefore, the short-term outlook for Pepe coin price is where it retests the support at $0.00001720 and then bounces back, and retests this month’s high of $0.00002591. A break above that level will push it to $0.00002891, the target of the C&H pattern.

Pepe Price Chart

The bullish Pepe price prediction view will become invalidated if the coin drops below $0.000016. This price is a few points below the upper side the cup and will point it to the 200-day moving average at $0.000010.

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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.