Crypto analyst Ali Martinez has expressed bullish sentiment for Pepecoin’s (PEPE) price movement, suggesting that there is more to come for the meme coin. The analyst’s comments come on the heels of PEPE witnessing an increase of 11% within the past week.
PEPE’s next move
As of this writing, PEPE is trading at $0.00000717, demonstrating a 3.73% increase in the last 24 hours. Analyzing PEPE’s bullish movement, the analyst highlighted that the meme coin is preparing for its next move.
He encouraged traders and investors to pay close attention to PEPE’s daily close price range of between $0.00000793 and $0.00000664. Martinez claims this range is critical for PEPE because it could cause a 54% increase in its price if the level holds.
While the crypto market is volatile, the analyst's 54% price projection for PEPE is not without merit and is entirely plausible. In the past 24 hours, PEPE’s trading volume has increased by 49.83% to $747 million. In a similar spirit, the market capitalization has also seen increases of 2% to $2.9 billion. PEPE has grown to become the fourth biggest meme coin by market capitalization.
Increased trading activity for PEPE indicates a strong desire among investors to accumulate the cryptocurrency. Overall, this could cause a substantial increase in the price of PEPE soon. Notably, a recent decline of 5% last month has not deterred investors. Instead, it has given holders a fantastic chance to grow and diversify their holdings.
PEPE fights for meme coin dominance
Launched in 2023, PEPE has grown to become a worthy contender in the meme coin ecosystem. According to reports from U.Today, PEPE’s massive surge coincides with this year’s bull run.
In a positive development, Coinbase International, the global branch of the top crypto exchange, has announced the launching of PEPE perpetual futures, set to go live on April 18. Perpetual futures allow traders to speculate on the meme coin's future moves without having to worry about expiration periods.