Pepe (PEPE) hit a new all-time high of $0.00002716 earlier today. The frog-themed memecoin is among the best-performing cryptocurrencies of this year. The asset is up 2.8% in the daily charts, 25.2% in the weekly charts, 29.8% in the 14-day charts, and 140% over the previous month. The memecoin was also among the best-performing cryptocurrencies of the last year. The asset has rallied by a whopping 1570.3% since December 2023.
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Why Is Pepe Rallying?
The asset’s latest rally comes amid a larger altcoin surge. Solana (SOL), BNB, and TRON (TRX) have all hit new peaks over the last few weeks.
The surge in altcoin prices could be due to investors moving funds away from Bitcoin (BTC), which is stagnating below the $100,000 mark. Market participants may attempt to book profits with other assets, such as PEPE.
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PEPE’s latest surge comes after Donald Trump won the US Presidential election. Trump’s pro-crypto stance has led many to believe in lenient regulations over the next four years. The President-elect has also named a crypto czar and a new SEC chair.
Will The Memecoin Hit $0.0001 Next?
According to CoinCodex, PEPE will continue to rally over the next few weeks. The platform anticipates the memecoin to trade at $0.00008909 on Jan. 6, 2025. CoinCodex does not expect the asset to hit the $0.0001 mark anytime soon. Hitting $0.00008909 from current price levels will entail a rally of about 241.4%.
Changelly also anticipates PEPE will rally over the next few weeks. The platform predicts the asset will trade at $0.0000803 on Jan. 7, 2024.
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There is a possibility that PEPE will breach the $0.0001 mark before 2025 starts. If the asset continues its upward momentum, it could delete a zero before anticipated.
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