Pepe Coin Price Poised for Breakout as Analysts Debate Market Direction
Pepe Coin price has been trending upward, forming higher highs and higher lows. Despite this, market sentiment around the frog-themed cryptocurrency remains largely pessimistic. A bearish prediction from an analyst has fueled concerns of a potential 66% crash for the asset in October. At the same time, speculation about a possible memecoin supercycle has emerged, which could drive the price of PEPE to new highs.
Analyst Predicts Decline for Pepe Coin in October
Market analyst Alan Santana has forecasted a significant drop in Pepe Coin price throughout October, a stance that contradicts the general sentiment in the market. Santana highlights that PEPE’s price action has turned bearish recently and expects this downward trend to last for around 22 to 27 days. His analysis is based on the coin’s prior bullish rally, which lasted 55 days.
Santana further speculates that the upcoming decline could surpass the drop seen during the August 5 crash. He believes this downtrend will extend beyond PEPE, impacting the broader market, just as the previous bullish wave affected the entire sector.
Currently, PEPE has gained 1.2% over the past 24 hours, trading at $0.00000971.
Could a Memecoin Supercycle Be on the Horizon?
In contrast to the bearish outlook, some analysts have suggested the possibility of a “memecoin supercycle” reshaping the crypto landscape. Analyst Murad Mahmudov is among those forecasting such a wave, pointing to the influence of strong communities in driving meme coins like Shiba Inu and Dogecoin.
Pepe Coin also enjoys considerable community backing, with the number of holders increasing by 0.028% in the past day. Mahmudov also praised other community-driven projects, such as Pump.fun and Polymarket, which have thrived despite not having a token. Similarly, he noted the success of meme tokens like Dogwifhat (WIF), Popcat (POPCAT), and PEPE, which have risen alongside their products.
Pepe Coin Eyes 75% Potential Gains
Despite the short-term bearish predictions, Pepe Coin price is showing signs of a potential breakout after a prolonged downtrend. This shift suggests a move from bearish to bullish momentum.
The price has been consolidating within a descending channel, but recent price action indicates that sellers may be losing control as buyers push the price higher. A smaller symmetrical triangle pattern has emerged, with the price consistently forming higher lows—strengthening the case for a bullish breakout.
If the breakout occurs, PEPE could target the $0.00001700 resistance level, representing a potential 75% gain from its current price. Should the price remain above this level, the long-term outlook could see it rise toward $0.00002200 or beyond, depending on broader market conditions.
Conversely, the breakout level of $0.00000900 now serves as critical support. A failure to hold above this rising trend line could signal weakness, potentially driving the price down to $0.000008. Continued selling pressure could push the asset even lower to the $0.000006 support, which would invalidate the current bullish setup.
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