The last few months have been massive for the cryptocurrency sector. With the leading crypto continuing to set records, the meme coin market has seen one asset emerge as the biggest gainer for the last month. Although PEPE has been on one monumental run, it could still be set to gain 25% before the calendar turns to 2025.
The token has been one of the biggest beneficiaries of the crypto run driven by the US presidential election. Indeed, the token has become the clear third-largest meme coin by market cap, behind both Dogecoin (DOGE) and Shiba Inu (SHIB). Yet, there is still room for it to continue to grow substantially over the next two months.
Also Read: Coinbase Officially Lists Skyrocketing PEPE
PEPE Looks to End 2024 On Huge Note Amid Ongoing Bull Run
November has proven it’s a great time to be a digital asset investor. With Donald Trump emerging victorious in the historical 2024 presidential election, the digital asset market has benefitted massively. Bitcoin has reached continuous all-time highs, setting a landmark record of $98,000 Wednesday.
One asset that has followed its success has been PEPE. The meme coin has proven its worth throughout the last 30 days, increasing more than 107%, according to CoinMarketCap. Moreover, it surged almost 11% in the last 24 hours to trade at its current $0.00002077 level. However, the run doesn’t appear to be ending anytime soon.
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Also Read: How High Can DOGE and PEPE Go in 2024?
PEPE currently boasts bullish charts that have it eyeing a 25% increase by the time 2025 arrives. Indeed, the potential starts to come into view following the emergence of a cup and handle pattern. A bullish indicator, the pattern formed on the top end of $0.00001721.
Moreover, the cryptocurrency has moved above both the 50-day and 200-day exponential moving averages. This is a vital development, as it clearly shows that bulls remain in control. Finally, the engulfing candlestick pattern has taken shape. This shows a large green candle covering any previous red candles. This pattern typically occurs before a breakout.
In the best circumstances, PEPE would reach its November high price of $0.000025. However, it wouldn’t be shocking to see it overperform. Amid the ongoing bullish sentiment within the industry, there is a chance for a 25% increase to set in before January is upon us.
