Pepe Coin Surges 58% in a Month, Driven by Trump Post

Pepe Coin ($PEPE) has experienced a significant surge in value, with a nearly 58% increase over the past month. This remarkable growth has sparked curiosity and speculation among traders and crypto enthusiasts about its potential to reach the $0.01 mark. Currently, Pepe Coin's market cap stands at $5.88 billion, reflecting a 0.29% increase. The meme coin has also shown resilience in a market characterized by profit-taking and liquidations, climbing nearly 5% in the last 24 hours to become the only gainer among the top seven memecoins.

One of the main drivers behind the bold price prediction of $PEPE reaching 1 cent is a recent post shared by former U.S. President Donald Trump on his platform, Truth Social. The image featured Trump with a caption that seemed to be about himself, but eagle-eyed observers noticed $PEPE’s iconic frog mascot subtly placed in the background. This unexpected appearance has stirred bullish excitement in the meme coin community, with Open Interest in $PEPE jumping 9.81% over the last 24 hours and a substantial 31.8% increase in trading volume. More than $2.7 million worth of $PEPE changed hands during that time. Additionally, $PEPE’s Weighted Funding Rate has remained positive for nine consecutive days, indicating strong bullish sentiment as the contract price exceeds the spot price.

Search interest further supports this growing enthusiasm. While down from its peak score of 100 on May 14, $PEPE’s current search interest index stands at 21, eight points higher than Dogecoin, which boasts a market capitalization of over $32 billion. Many traders believe that if $PEPE continues to dominate public attention, it could eventually challenge Dogecoin’s top spot in the memecoin hierarchy.

However, reaching $0.01 is an extremely challenging goal for $PEPE. According to Grok, xAI’s generative AI chatbot developed by Elon Musk, $PEPE is currently trading around $0.000014 and has a market cap of approximately $5.9 billion. Its circulating supply stands at a massive 420.69 trillion tokens. To reach $0.01, $PEPE would need to surge by roughly 715,000%, pushing its market cap to around $4.21 trillion. This figure surpasses the valuations of major companies like Apple or NVIDIA and rivals the GDPs of large economies, making it an improbable scenario in the short to medium term. Even Bitcoin, the top cryptocurrency by market cap, has never reached such valuation levels.

At press time, $PEPE/$USDT is trading near $0.00001375. A key support zone lies between $0.00001120 and $0.00001200, marking a recent breakout level that bulls have successfully defended so far. Holding this range could set the stage for another move upward. On the upside, intermediate resistance is expected between $0.00001550 and $0.00001750. These levels could pose short-term barriers before the token attempts to retest its previous high near the $0.00002200 region. The Relative Strength Index (RSI) sits at 58.86, which is a neutral reading, not yet overbought or oversold. However, a sustained break above $0.00001550 could open the door to retesting $0.00002200, while a drop below $0.00001200 would likely undermine the current bullish setup.