Pepe (PEPE) outperforms the top 10 crypto projects by market cap in the daily charts. The asset has rallied by 9.3% in the last 24 hours. Bitcoin (BTC), on the other hand, has had no changes in the daily charts. XRP has rallied 7.5% and Solana 4.1% in the same time frame.
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Cryptocurrencies Continue To Plummet
Despite the recent recovery, PEPE and other crypto assets are trading in the red zone in the other time frames. The memecoin is down 11.7% in the weekly charts, 13.2% in the 14-day charts, and 33.2% over the previous month. The frog-themed crypto has maintained substantial gains over the last year, rallying 489.6% since February 2024.
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The dip came after the US reimposed tariffs on Canada and Mexico. The dip was further propelled by last week’s Bybit hack. The hack is reportedly the largest in the crypto realm. The exchange lost about $1.4 billion worth of assets. PEPE and other risky assets took a big hit after the Bybit attack.
PEPE To Hit A New All-Time High?
PEPE is currently down by more than 70% from its all-time high of $0.00002803. The asset peaked in December 2024.
According to CoinCodex, the frog-themed crypto may break into a rally over the coming weeks. The platform anticipates the asset to hit $0.00003943 on Apr. 5. PEPE will rally by about 375% if it hits the $0.00003943 target. CoinCodex does not anticipate the asset’s price to hold above $0.00003. The platform predicts PEPE will face a correction to the $0.00002 level by May.
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There is also a possibility that the memecoin will not hit a new all-time high in April. The crypto market may not recover till then. Macroeconomic factors may also present considerable challenges.
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