Pepe coin has stabilized after a notable decline, rising to $0.00001035 this week. Market sentiment has improved despite geopolitical risks. The upcoming announcements from the Fed and inflation data may impact prices. Although a rebound is likely, reaching $1 seems unlikely due to significant required growth from the current price levels.

Recently, the Pepe coin price has seen a significant decline, stabilizing this week due to a slight improvement in market sentiment within the cryptocurrency space. On Tuesday, Pepe (PEPE) reached a high of $0.00001035, marking a 30% increase from its lowest point earlier this month. The resurgence of other popular meme coins, such as Fartcoin, Shiba Inu, and Dogecoin, has also contributed to this positive change in sentiment.

Despite rising geopolitical tensions, including new tariffs imposed by Donald Trump on steel and aluminum imports that may elevate inflation, Pepe and its counterparts have managed to regain momentum. Analysts are particularly interested in Jerome Powell’s upcoming congressional testimony, as his remarks historically influence the movements of cryptocurrencies. Furthermore, the anticipated release of January’s Consumer Price Index data is another event that may sway market reactions.

Pepe coin has demonstrated resilience, remaining a favored meme coin with daily trading volumes approaching $1 billion, surpassing many of its competitors. Additionally, there has been an increase in futures open interest, reaching $278 million — the highest in over a week. This uptick indicates growing demand among investors, although the total supply of Pepe coins on exchanges has decreased by 1.43% recently.

The price trajectory of Pepe coin still indicates a bear market, as evidenced by a 65% decrease from its peak in 2024. After hitting a low of $0.0000086, the coin approached a critical support level that has historically resulted in double-digit recoveries. While a rebound to the 200-day moving average at $0.00001390 appears plausible, a rise to $1 remains highly improbable, suggesting a near 10 million percent increase from current valuations.

In summary, while the Pepe coin has faced substantial challenges and price declines, recent market trends indicate potential for a rebound. The upcoming economic announcements and shifts in investor sentiment could provide further momentum. However, projections for reaching $1 are excessively optimistic given the current market landscape and price dynamics. Investors should proceed cautiously, remaining informed about market signals moving forward.

Original Source: crypto.news

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