Pepe (PEPE) had an incredible run last year. The asset was quick to climb the market cap charts. Till very recently, the frog-themed crypto was among the top 30 crypto projects by market cap. The memecoin hit an all-time high of $0.00002803 on Dec. 9 of last year. Since its peak, the memecoin’s price has dipped by 77%. Investors have lost most of the gains they made over the last year.

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Pepe Predicted To Rise To A New All-Time High

pepe coin psychedelic
Source: NewsBTC

According to CoinCodex, PEPE will rally over the next few weeks. The platform anticipates the memecoin to hit a new all-time high of $0.00003020 on Apr. 19. The coin’s price will rally by 367.35% if it hits the $0.00003020 target. CoinCodex does not anticipate PEPE’s price to hold above $0.00003. The platform predicts the asset will face a correction to $0.000016 by mid-May.

PEPE price prediction
Source: CoinCodex

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There is also a possibility that PEPE will not rally as predicted. Macroeconomic factors may present considerable hurdles to the crypto market. The ongoing trade war between the US and other countries could take longer than expected to come out of. Such factors could delay a crypto market rally.

Cryptocurrencies Show Recovery Signs

The crypto market faced a substantial correction over the last week. Bitcoin (BTC) briefly fell below $80,000 earlier this week. Despite the correction, the market seems to be slowly recovering. PEPE has rallied 8.6% in the last 24 hours. BTC is also inching closer to the $83,000 mark.

Pepe price chart
Source: CoinGecko

While PEPE has made some gains in the daily charts, the asset is still red in the other time frames. The memecoin is down 11.2% in the weekly charts, 22.3% in the 14-day charts, 32.4% in the monthly charts, and 21.5% since March 2024.

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