The frog-themed cryptocurrency reached a high of 0.00001717 USD on May 27, 2024. However, the price did not hold for long. The asset has fallen nearly 23% since its May 2024 peak. The latest rally could be due to investors expecting a positive outcome from the FOMC (Federal Open Market Committee) meeting. .
Will Pepe reach a new all-time high soon?
Memecoin is having an especially good year in 2024. Bonk (BONK), dogwifat (WIF), Floki (FLOKI), etc., are all showing outstanding growth this year, outperforming their peers. major cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), in various cases.
PEPE is no different. The asset has quickly climbed the rankings and is now the 23rd largest project by market capitalization.
Cryptocurrency analysis firm CoinCodex believes that the frog-themed cryptocurrency could join a rally in the coming weeks. The platform’s data suggests memecoin could reach a new all-time high of $0.00001822 on June 18, 2024. Reaching $0.00001822 would represent an increase of about 38% from the current price.
Additionally, CoinCodex data shows that PEPE price could rise to 0.00004472 USD by July 10, 2024, an increase of nearly 240% from current levels.
However, it is likely that PEPE will face another correction in the coming days. The frog-themed memecoin doesn’t have much utility and is subject to market fluctuations. Furthermore, if the FOMC meeting does not go as traders hope, asset prices could face a sharp decline.
