Yerevan (CoinChapter.com) — PEPE’s price has increased by 55.27% over the past week, trading at $0.00001281, bringing its year-to-date gain to over 1,000%. This gain occurred amidst a broader market rally led by Bitcoin, which recently reached $88,000. PEPE’s weekly performance highlights an 80% increase, positioning it as one of the leading meme coins in the current bull trend.

Memecoins like PEPE often see significant gains during market rallies. Their low unit cost makes them appealing to a wide range of investors, while their volatility provides a potentially high risk-reward structure. Dogecoin (DOGE) and SHIB have seen unprecedented gains in 2021, with gains exceeding 1,000,000%, which has brought significant profits to early holders.

Trump's victory boosted market confidence
The current optimism in the market stems from Donald Trump's recent election victory, which some see as a favorable outcome for the cryptocurrency industry. This sentiment has led to a rise in the prices of digital assets, including PEPE. However, PEPE has become one of the best performers in this rally, which also makes it more vulnerable to possible profit-taking by investors.

Unlike Dogecoin (DOGE) and SHIB, PEPE has yet to attract significant interest from institutional investors, primarily due to its high volatility, which many large investors see as a sign of instability, limiting PEPE’s appeal outside of retail trading circles.

PEPE Price Analysis: Resistance and Support Levels to Watch
The upward momentum in PEPE’s price suggests that further gains are likely. If the price breaks above $0.0000142, the upcoming resistance can be expected at $0.0000146. If it continues beyond this level, PEPE could head towards the next resistance at $0.0000148.

On the downside, if the price breaks below $0.0000142, the control will shift to the sellers. In this case, the expected initial support is at $0.0000140. Further declines may lead PEPE to test lower support at $0.0000137. This will challenge the bull trend driven by the recent gains.

Overall, PEPE price action will depend on market momentum and broader cryptocurrency developments.