Pepe price triggers a huge rise as the crypto markets turn bullish following the BTC price breaks above $100K

The cryptocurrency markets have seen a strong surge in recent times, with Bitcoin breaking above the $100,000 mark and Ethereum trading above $2,200. This rally has also spilled over to the memecoin sector, which has seen some impressive gains.

One such token, PEPE, saw its price surge by over 40% since the last trading day, outperforming the gains in the top memecoins like Dogecoin or Shiba Inu.

However, the major bull run is still pending, and another 10% upswing could trigger a strong rally that could see the token gaining more than 60% by the end of the month.

The memecoin mania seems to have just begun, with most of the tokens surging by a double-digit margin. Along with Pepe, the BOOK OF MEME price also attracted 30% gains while Fartcoin, Mog Coin, FLOKI, ApeCoin, etc, surged by 18% to 20%. The rest of the popular ones increased by nearly 15%.

The PEPE price just ripped through key resistance at $0.000009, fueled by a record whale accumulation and a 150% spike in the trading volume.

The technicals confirm a pattern breakout, which suggests a major price action is fast approaching, which could lead the rally towards a new ATH.

The historical chart pattern of Pepe price suggests the token has begun the next phase of the bull run after withstanding significant bearish pressure since the start of the year. The price broke above the neckline of the double-bottom pattern and also secured the crucial resistance at $0.000011. The weekly RSI and MACD have triggered a massive bullish divergence, which suggests the rally has gained massive strength. The MACD has initiated a bullish crossover, suggesting the PEPE price is primed to mark a new ATH.

The price is testing the 200-day MA in the weekly chart; a rise above the range could push the token towards the higher targets at $0.001712 initially and later at $0.00002118. Once these levels are secured, the PEPE price is expected to enter a discovery phase and head towards the resistance of the channel it has been following since the start. Therefore, the memecoin is expected to form a new ATH around $0.00006 in the coming weeks.