NAIROBI (CoinChapter.com)—PEPE, an Ethereum-based memecoin, is gaining attention as a viable option for investors banking on Ethereum (ETH) to continue its bullish trajectory. Analyst Miles Deutscher has highlighted PEPE’s strong technical structure and alignment with Ethereum’s performance. He suggests it could play a pivotal role in the market’s next move.
PEPE’s Price Setup Points to a Potential Breakout
The token is consolidating within a symmetrical triangle, a technical pattern often linked to trend continuation. The token trades near $0.00002156, with chart projections indicating a breakout could push its price as high as $0.00005116—a potential upside of 137%.
Technical indicators also support PEPE’s bullish outlook. The Relative Strength Index (RSI) stands at 61.63, leaving room for further gains before the token enters overbought territory.
Meanwhile, the token remains comfortably above its 50-day and 100-day Exponential Moving Averages (EMAs), which are currently at $0.00001647 and $0.00001374, respectively. These moving averages provide solid support for the token’s current price trajectory.
Analysts from Rose Premium Signals suggest that a break above $0.00003219 could accelerate PEPE’s upward momentum, with the next resistance level at $0.00003955. They also caution traders to watch the $0.00002046 support zone closely for managing risk in case of pullbacks.
Memecoin Momentum Adds to ETH’s Rally Narrative
Memecoins built on Ethereum, like PEPE, have gained significant momentum since Nov., often outpacing Ethereum in percentage growth. During this period, Ethereum has surged nearly 20%, reaching $3,901 as market sentiment improves. In contrast, PEPE has shown sharper price movements, driven by speculative interest and its smaller market cap, which tends to amplify volatility.
Analyst Miles Deutscher called PEPE a “logical beta” for Ethereum investors. He highlighted its position as a leading memecoin, its widespread availability on exchanges such as Binance, Coinbase, and Robinhood, and its integration into the growing memecoin narrative. These platforms provide deep liquidity and broad exposure. These are critical factors that enable sustained price action.
Analyst Jelle noted Ethereum’s position for further upside as it approaches $5,000. PEPE, being an Ethereum-based asset, could benefit from this momentum, presenting traders with potential short-term opportunities.
As Ethereum moves closer to the $5,000 level, memecoins like PEPE might help maintain market interest and liquidity, further fueling the ecosystem’s growth.
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