In November, the frog-themed meme coin, Pepe, experienced significant price growth, reaching an all-time high of $0.00002524. This gain of 117% in one month was supported by a trading volume of $5 billion and a positive sentiment surrounding Bitcoin. Analysts predict that Pepe has the potential to reach a $50 billion market capitalization, following its breakout from a descending channel and its strong resemblance to the price actions of similar meme coins like DOGE and SHIB.
Technical indicators also show a bullish sentiment for the long term, with the RSI index hovering above 70 and the MACD line above the signal line. This suggests that Pepe could continue its upward trajectory, possibly targeting new all-time highs.
