Meme coins are doing well in 2024, helped by the ongoing crypto bull run and the fear of missing out. Pepe coin has emerged to be one of the best-performing cryptocurrencies this year as it jumped by 1,472% from its lowest point in January. This article explores why Pepe may continue rising and why crypto analysts are turning to iDEGEN.
Pepe price has room to rally
Pepe coin has done well this year, helped by the ongoing crypto rally and strong demand from investors. The number of holders has jumped to over 330,000, much higher than 296,000 a few weeks ago, a sign that it has strong demand.
Technicals suggest that the Pepe Coin price has more room to grow in the coming months. On the daily chart, we see that the coin has formed a few bullish patterns that could lead to more gains.
It has formed a cup and handle pattern, which is a popular continuation sign in the market. This pattern is made up of a horizontal line that connects two peaks, followed by a pullback and a rounded bottom. The asset then forms a consolidation, which becomes part of the hand. In most cases, this pattern usually leads to more gains.
Pepe has also moved above all moving averages and has formed a bullish flag candlestick pattern. This pattern forms when an asset forms a vertical line and a rectangle. In most cases, this is one of the most bullish patterns.
Therefore, there is a likelihood that the price of Pepe will bounce back and jump to the year-to-date high of $0.000026, which is about 34% above the current level. A move above that point will signal more gains in the coming months.
On the flip side, a drop below the key support level at $0.00001720 will invalidate the bullish view in the near term.
Investors are piling into iDEGEN
Cryptocurrency investors are moving to iDEGEN, one of the fastest-growing players in the industry. Data on its website shows that it has already raised over $1 million in less than three days, making it one of the fastest-growing players in the industry.
iDEGEN is an upcoming crypto project that is at the intersection of meme coins and artificial intelligence. Unlike other crypto projects, it does not have any knowledge or information prior to being birthed. Instead, it is created to learn new information daily. One of its top advantages is that it reads and responds to all X posts tagging it, including links.
Crypto analysts are bullish on the iDEGEN token because of the ongoing growth of AI coins and the ongoing bull run. Also, digital coins are firing on all cylinders, with most coins being in a strong bull run.
Bitcoin is nearing $100,000, and if this happens, it will likely jump to over $200,000 in the next few months or years. If this happens, new thematic tokens will replicate the rally. Just recently, we have seen several meme coins like PNUT, ACT, and GOAT surge. This means that the iDEGEN token could replicate this performance. Learn more about iDEGEN here and follow it on X here.
