PEPE Price Prediction: All-Time High Stops Here

PEPE price is making waves with its recent rally as meme coins dominate the crypto market. However, the altcoin's rise might halt now as the investors

The price of PEPE is surging as meme coins take over the crypto market. But the altcoin’s rise may be coming to an end as investors choose to book profits.

PEPE May Not Overtake MATIC

The rally in PEPE’s price saw the meme coin come close to flipping Polygon (MATIC) in the market capitalization rankings. With a market cap of nearly $7 billion, Pepe is now the 19th largest cryptocurrency.

This puts the meme coin ahead of Litecoin (LTC) and Uniswap (UNI) in terms of market cap. At one point during Monday’s intra-day trading high, even Polygon was left behind. But PEPE failed to close below it.

If the meme coin crosses the $7.2 billion market cap, Polygon will once again lose its spot to PEPE. However, this scenario is unlikely as investors are now cashing out.

With the price surging, so are the investors’ profits, which are up significantly. This triggered selling to lock in the gains. The realized profits across the network surged to a two-month high.

PEPE holders tend to sell during such rallies, which is the case at the moment. Given that investors are expecting a price rise, this could also increase. It shows that profit-taking may continue, and in turn, the price will take a hit.

PEPE Price Prediction: All-Time High Stops Here

The price of PEPE marked a new all-time high of $0.00001725 during the intra-day trading hours on Monday. Over the past week, the meme coin has registered an 80% rally, which brought the altcoin up from $0.00001000 to close to $0.00002000.

However, with profit-taking surging, the rally may be coming to an end. As a result, the meme coin could now drop back down to $0.00001500. However, the altcoin will likely hold above the support of $0.00001430.

If the uptrend continues, the cryptocurrency will push through the resistance of $0.00001725. This will invalidate the bearish thesis and help PEPE form a new all-time high.