Ethereum News Today: Ethereum's 40.3% Surge Drives Pepe Coin's 30% Gain

Ethereum has shown a strong bullish trend in recent times, with a 40.3% increase over the past 30 days. Since July 8, it has surged by over 39.58%, and in the last seven days, it reported a rise of 19.7%. This surge in Ethereum's price has led some analysts to suggest that Pepe Coin, a meme coin, may soon hit a new all-time high.

At the beginning of this month, the PEPE market was at $0.00000926. In the first eight days of the month, it majorly stayed within the range of $0.00001079 and $0.00000917. On July 9, with a single day growth of 8.39%, it closed above the range. Since then, it has surged by 28.77%. This price action of PEPE closely resembles Ethereum’s. Crypto analyst Jake Gagain highlights that PEPE’s growth often mirrors Ethereum’s trends. In the last 30 days, the Ethereum market has seen a growth of 40.5%. In the last seven days alone, it has jumped by 19.8% to $3,566.54. Since July 9, it has climbed around 36.55%. Another crypto analyst, identified as ChandlerCharts, notes that every time ETH moved above $3,100 toward $4,000, Pepe usually spiked. At the start of July 16, the Ethereum price was at $3,137.84. Since then, it has increased by 13.75%. During the same period, the PEPE price has grown by 1.90%. On July 16 alone, it surged by at least 5.29%.

According to the analyst's forecast, the PEPE market could hit a new all-time high this weekend. Gagain highlights that, this month, the market cap of PEPE swelled by no fewer than 32%. The market cap of the second largest meme coin by market capitalization, PEPE, currently sits at $5,525,722,126. It was on December 8, 2024, that PEPE hit its All-Time High of $0.000028362. Currently, the market remains at least 53.67% below its ATH. In conclusion, if Ethereum breaks its previous highs, PEPE could also hit or surpass its own ATH.

Pepe Coin has seen a remarkable 30% increase over the past 30 days, with its price reaching approximately $0.00001334. This upward trend aligns with the broader market sentiment and the surge in Ethereum's price. The current price of Pepe Coin stands at around $0.000014, reflecting a steady climb over the past few weeks. The small increase seen in the previous day further supports the notion of a sustained upward momentum. Analysts have also predicted that if Ethereum continues its upward trend and maintains the daily level at $3,730 as support, it could extend its rally toward the next key psychological level at $4,000. This potential surge in Ethereum's price could further boost the value of Pepe Coin, as the two cryptocurrencies often move in tandem during bullish market conditions.

However, it is important to note that while some analysts predict a new all-time high for Pepe Coin, others have offered more modest forecasts. According to one analyst's forecast, $1,000 invested in PEPE today could yield fairly modest gains by 2030, possibly averaging $0.015. This forecast suggests that while there is potential for growth, investors should approach with caution and consider the long-term outlook. In summary, the recent surge in Ethereum's price and increased whale activity have contributed to a significant rise in Pepe Coin's value. While some analysts predict a new all-time high, others offer more conservative forecasts. Investors should carefully consider these predictions and the broader market conditions before making any investment decisions.