Pepe (PEPE) rises with a 38% price gain, taking the day's profit

The price of BRC-20 Memecoin project Pepe topped the list of daily risers with a 38 percent increase in value.

The BRC-20 Memecoin Pepe (PEPE) has benefited from the sharp rise in the bitcoin price in recent days. With a price increase of 38 percent, Memecoin is the biggest daily riser among the top 100 altcoins. Since its all-time low on June 15, 2023, the PEPE price has risen 69 percent, also topping the list of weekly winners.

In the previous month, the project with the cartoonish frog logo had fallen significantly, losing more than 80 percent of its value at its peak.

If the PEPE price continues its upward trend and overcomes the resistance around US$0.0000016, Pepe could continue its price rally and rise toward US$0.0000020.

Only when this zone is also permanently broken, will there be further price potential toward 0.0000029 US dollars. If the hype, which has clearly waned recently, continues to gain strength in the medium term, a renewed price rise towards the zone around 0.0000037 US dollar is also conceivable.

As a precursor to 10 million ordinals on the Bitcoin blockchain, such a price jump cannot be completely ruled out. On the other hand, if the PEPE price bounces back down to the current resistance zone, a fall back to the breakout level at US$0.0000010 could follow. Here the Pepe bulls should again try to stabilize the price. However, if this support level is abandoned, the sell-off would extend toward 0.00000083 US dollars.

Price analysis based on the PEPE/USDT value pair on Bitget