Can PEPE Enter Top 20 Meme Coins with Significant Gains?

PEPE experienced significant gains on Tuesday, surging nearly 11% as optimism surrounding an Ethereum ETF grew. This surge is part of a broader rally in Bitcoin, Ethereum, and meme coins, fueled by expectations of the SEC approving the Spot Ether ETF.

PEPE, a meme coin built on the Ethereum platform and inspired by a popular frog-themed meme, saw its market capitalization rise to $5.21 billion, securing its position among the top 25 assets. Currently trading at $0.00001262, PEPE’s value surged by 11% on Tuesday.

Ranked 24th by market capitalization, PEPE has witnessed rapid growth over the past two weeks, with a market cap exceeding $5.21 billion. The coin’s recent gains, including a 37% increase over the last seven days and an 11% rally on Binance, are attributed to positive market sentiment surrounding the imminent approval of the Spot Ether ETF by the SEC.

As a meme coin based on Ethereum, PEPE is expected to benefit from the positive developments surrounding the second-largest cryptocurrency in the market. Similar to the impact of the Bitcoin Spot ETF approval on related assets, approval of the Ethereum ETF could lead to gains in staking, restaking, Layer 2 scaling tokens, and other Ethereum-based assets, including meme coins like PEPE.

With the potential for further gains, PEPE aims to break into the top 20 assets on Coingecko, where the 20th asset currently holds a market capitalization of $6.21 billion. The coin is projected to achieve nearly 15% gains, targeting a key resistance level at $0.00001440, supported by technical analysis indicating positive momentum.

PEPE may encounter resistance at $0.00001323, aligned with the lower boundary of the Fair Value Gap (FVG). The Moving Average Convergence Divergence (MACD) indicator signals underlying positive momentum in PEPE’s upward trend, further supporting the potential for continued gains.

In conclusion, PEPE’s recent rally underscores the broader optimism in the crypto market, with meme coins like PEPE benefiting from positive regulatory developments and market sentiment. As traders anticipate the approval of the Ethereum ETF, assets like PEPE are poised to capitalize on the growing interest in Ethereum-related investments.