Will Ethereum’s Rise Cause PEPE Price to Explode ?
Investors know it well : Ethereum is currently experiencing an extremely favorable period. Over the last 30 days, PEPE, the second-largest cryptocurrency, has recorded a gain of more than 40%
Analysts like Jake Gagain and ChandlerCharts highlight a close correlation between Ethereum and PepeCoin movements. They’ve observed that whenever ETH breaks the $3,100 barrier to reach $4,000, PEPE typically records a significant increase. This dynamic suggests that Ethereum’s bullish trend could have a positive impact on PEPE.
Is the memecoin ready to break its all-time high ?
Experts believe the market could reach a new all-time high in the coming weeks. With a market capitalization up 32% this month, PEPE is positioning itself for significant growth. Currently, the token is approximately 49.67% below its previous all-time high.
On the 4-hour chart, PEPE has moved above its POC, signaling dominant buying strength. The bullish momentum on both PEPE and ETH could therefore push the memecoin to the next resistance zone at approximately $0.000025.
The 3-day FBB also indicates a target of $0.000025. However, the memecoin has a strong chance of exceeding its all-time high to reach the $0.000031 zone if ETH breaks its historical resistance at $4,111.
In conclusion, Ethereum’s positive evolution appears to be a key element for PepeCoin’s bullish dynamics. If ETH continues its momentum, the memecoin could well benefit from this trend to soar to new records.
