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Bitcoin price is currently above $63,000 while altcoins are slowly recovering despite geopolitical risks easing and early volume spikes in ETF channels.
PEPE Coin Analysis
The price continues to hover around the support level of $0.00000517, managing to stay strong even as it briefly dips below $0.00000469. We had previously mentioned that PEPE Coin could see spikes down to $0.00000400 in extreme sell-offs, but fortunately, BTC has not experienced a prolonged and sharp decline to push it below these levels.
If BTC can sustain itself above $64,000, PEPE Coin bulls might attempt to reclaim the $0.00000584 level. Subsequent targets would be $0.00000887 and $0.00001024. After shedding one zero, the price could aim for a new all-time high, leveraging the FOMO of investors new to cryptocurrencies.
Is PEPE Coin a Buy?
Compared to 54 days ago, the price of PEPE Coin has started a rise that is 327% above its initial level, yet it is still 56% below its peak seen 35 days ago. If you have a positive outlook on the general market sentiment in the coming months and believe PEPE Coin can maintain its strength, new highs could be seen.
Bitcoin and the cryptocurrency markets will transition to a post-halving market period in 36 hours. Historically, Bitcoin prices do not reach all-time highs before a halving, but this cycle’s U.S.-based ETFs and other factors have triggered much higher demand, leading BTC to peak even before the halving occurred.
Historical data suggest that BTC prices are still very low. If previous cycles repeat, we should see a strong upward trend towards at least $200,000 within the next 12-18 months. Those who remember 2021 know the massive gains altcoins achieved during that period.
However, cryptocurrencies, especially meme coins, have a significant difference: they can disappear very quickly. For instance, the PEPE Coin treasury was emptied months ago by some of the founders, leading to a significant price drop. This might not happen again, but a different catastrophic issue could drive the price to zero. The general risk in crypto needs to be doubled for meme coins.
