Can Pepe Coin Reach $1 This Bull Run? Examining the Fundamentals and Momentum
Highlights
- Pepe Coin price has surged over 1,600% this year.
- Reaching $1 would require a 4 million percent increase.
- While theoretically possible, a $1 milestone seems unlikely in the current bull run.
Pepe Coin’s Performance and Potential
Meme coins continue to draw attention for their ability to create overnight wealth, and Pepe Coin, a frog-themed cryptocurrency, is no exception. Despite its impressive gains, Pepe’s performance this year lags behind some of its peers. Many investors wonder whether it can follow in Dogecoin’s footsteps and reach the $1 mark during this cycle.
Pepe Coin’s Path to $1
Currently, Pepe Coin trades at $0.00002362, up nearly 2,500% from its 2023 lows. To hit $1, the coin would need to skyrocket by approximately 4.13 million percent, pushing its market cap to over $434 billion, which would make it one of the largest companies globally.
While such a rise is possible in the unpredictable crypto space, it’s highly unlikely during the current bull run. However, the coin still shows room for growth:
- On the daily chart, Pepe formed a cup and handle pattern between March and November—a bullish indicator.
- The coin has also created an inverse head and shoulders pattern on the four-hour chart, another bullish continuation signal.
- Pepe remains above the 50-day and 100-day moving averages, indicating continued upward momentum if Bitcoin’s uptrend persists.
Based on technical analysis, Pepe Coin’s next target could be $0.00002770. However, if it falls below the key support level of $0.00001718, the bullish outlook would be invalidated. 
Upcoming Catalysts: Pepe Burn
Pepe has several potential catalysts to fuel its growth:
- Popularity: As one of the most prominent meme coins, its daily trading volume often surpasses that of Dogecoin and Shiba Inu.
- Token Burn: Binance is reportedly planning a $1 billion Pepe token burn in January 2025, which would eliminate 10% of the coin’s circulating supply.
Token burns, like those executed by Shiba Inu and Floki Inu, create a deflationary effect, potentially increasing the coin’s value over time.
Outlook
Pepe Coin’s bullish patterns and upcoming burn provide optimism for its growth. However, while its current trajectory points to further gains, the likelihood of reaching $1 this cycle remains slim. Investors should watch for key support and resistance levels and stay informed about market trends to gauge Pepe’s future potential.
