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Pepe’s Comeback? 50% Rebound Sets Stage for Another 42% Surge
Key Insights:
Pepe Sees Major Recovery Rally Potential
Crypto chart expert Ali Martinez has pointed out the formation of an inverse head and shoulder pattern in Pepe with the breakout point at $0.0000074. According to the expert, if the memecoin crosses this threshold, it may surpass $0.0000105 in no time.
Pepe has been one of the strongest memecoins that surprised the markets with a recovery rally of 50% in the last week. The formation of an Inverse Head and Shoulders, a bullish pattern, could extend this rally towards $0.00001.
Memecoins have been the worst hit in the recent liquidity crisis, which was coincident with the end of their supercycle.
Last year, memecoins virtually ruled the market with triple-digit growth with the lead gainers being TRUMP, SHIB, PEPE, DOGE, FARTCOIN, and many others. However, in the last month, all of them saw deep corrections, with some breaking down below the bull market base support level, such as Shiba Inu.
If Pepe moves above the resistance zone after $0.00001, it would signal a recovery rally in the memecoin markets.
Is Pepe Fundamentally Strong?
At a time, when the crypto markets are highly volatile and bearish, fundamentals provide a good indication to investors on what cryptocurrencies to buy.
However, at present, Pepe is neither fundamentally strong nor has it any plans to develop utility-based applications. This scenario makes it vulnerable to crypto market cycles. As a result, Pepe rallies well when sentiments are high but crashes more severely than other cryptocurrencies when the markets become unfavorable.
Memecoin Supercycle Ends
The memecoin supercycle is a period of high growth in the memecoin markets surpassing the growth of all other cryptocurrency sectors like RWA, DeFi, Layer-1, and others. The last memecoin supercycle started in Jan 2024 when the Bitcoin ETFs were approved and lasted till December 2024 when the liquidity worries started hitting the markets.
In this supercycle, top memecoins saw triple-digit growths: Dogecoin grew 500%, Shiba Inu grew 460%, and Pepe grew 600% touching an ATH of $0.000028. However, since then most cryptocurrencies have seen a massive crash. In Pepe's case, this crash was 75% from the ATH.
If the current surge rejuvenates the memecoins, we could see another ATH forming around later part of the year. Otherwise, the memecoin supercycle would give way to other crypto sectors like RWA.
On the other hand, if the memecoin markets do not recover above their bull market thresholds, it could signal the end of them just like the NFT market growth ended. According to our experience, this is a major possibility in the future and the reason is due to the lack of utility of memecoins.
However, Not the Entire Memecoin Market is Doomed
Several cryptos in the memecoin markets could survive this memecoin crash. Dogecoin, Shiba Inu, and Floki Inu.
Dogecoin is a blockchain very close to the Bitcoin and Litecoin blockchains, which means that it can support all the applications that both these blockchains have. For example, Dogecoin could emerge as an alternative to Ripple's cross-border payment solutions.
Shiba Inu, on the other hand, has its own complete DeFi ecosystem. The crypto has its own blockchain, Shibarium and its own ecosystem, governance, and reward tokens. Further, there are several mature dApps on the Shibarium blockchain like Shiba Swap.
Floki Inu is a metaverse token, which means that if the Metaverse crypto economy resurges, it could see a major revival in its fortune.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.