PEPE Coin Price Prediction: Analyst Forecast $50B Market Cap Target

Since the beginning of November, the frog-themed meme coin Pepe has experienced solid bullish momentum, with its price revisiting old highs

As the year draws to a close and the cryptocurrency market experiences a period of relative calm, one meme coin has managed to stand out from the crowd with an impressive bullish run—the frog-themed Pepe coin.

Since the beginning of November, PEPE has revisited and ultimately set a new all-time high of $0.00002524. The token has also recorded a remarkable monthly gain of 117%, fueled by a massive trading volume of $5 billion and optimistic sentiment surrounding Bitcoin (BTC).

TradingView chart displaying PEPE's price action. Source: TradingView

According to TradingView’s data, PEPE's price action has caught the attention of traders, as the recent surge marks a recovery from its prolonged consolidation within a descending channel earlier this year. The chart shows that the descending channel had limited the cryptocurrency’s price action for months.

However, the breakout, catalyzed by an 89% weekly gain, has pushed PEPE's value past its resistance, triggering a fresh wave of market optimism. This scenario aligns with the altcoin’s historic rallies, where the meme coin surged over 705% after breaking out of a similar descending channel to a peak of $0.00001083 in the first quarter of this year.

With its price now entering uncharted territory, market analysts are speculating on PEPE's possible upward trajectories as it continues to ride the momentum of its recent breakout.

Analyst Forecast $50B Market Cap Target for PEPE Price Prediction

One such example is market expert Max, who believes that PEPE has the potential to become the “Why didn’t I buy it” meme coin of this cycle. According to Max, the token could reach $50 billion in market capitalization, cementing its place as a key player in the cryptocurrency market.

"In my opinion $PEPE has the highest probability of being this cycles "Why didn't I buy it" bag.

One day this painting will be finished. #PEPE will have gone on to flip the elusive 50B MC level & the world will be in order. I told you then & I am telling you again now… there… https://t.co/OrqUqI6X0O pic.twitter.com/47CoLrSB1x

— Max (@MaxBecauseBTC) November 13, 2024