The cryptocurrency market has faced another significant correction over the last few days. Bitcoin (BTC) is inching closer to falling below $101,000. The global market cap has dipped 4.2% in the last 24 hours to $3.66 trillion. Pepe (PEPE) is following the market downtrend as well. The frog-themed crypto is down by 5.7% in the daily charts,19.1% in the weekly charts, 16.3% in the 14-day charts, and 18.4% over the previous month. Despite the current dip, the asset’s price has risen by 1348% since January 2024.
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The Cryptocurrency Market Struggle Continues
The current market correction is the third dip since December. PEPE and other crypto assets have faced substantial ups and downs over the last several weeks.
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The latest dip is likely due to Donald Trump’s crypto ventures being called into investigation by Democrat Representative Gerald Connolly. Trump has been very supportive of the crypto landscape but his bullishness is now being called into question.
Pepe To Hit A New All-Time High
PEPE hit an all-time high of $0.00002803 on Dec. 9, 2024. The memecoin has since fallen by 47.2%.
According to CoinCodex, the memecoin will break out by the end of this month. The platform anticipates PEPE to hit a new all-time high of $0.00007074 on Mar. 2, 2025. Hitting $0.00007074 from current price levels will entail a rally of about 377.65%.
CoinCodex does not anticipate PEPE’s price to hold above $0.00007. The platform anticipates the asset’s price to drop to around $0.000037 by March end.
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There is also a possibility that PEPE will not rally as predicted. There is a bearish market environment and the stagnation could last longer than anticipated.
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