The crypto markets appear to have reached the end of the initial phase of the bull run, in which tokens have become more stable. With a calculated rise, the upcoming rally could be stronger and last longer compared to the previous one in 2021. One such rally that raised many eyebrows is PEPE, which soared above 100% and shows signs of rising over another 100% in the next few days.
Pepe commenced its trading journey with a huge blast but very soon entered a distrust phase where the traders were more sceptical of the upcoming trend. This has also compelled the price to face bearish heat for a long time and has also failed multiple attempts to revive a bullish trend. However, the PEPE price has surged above the neckline of the crucial bullish pattern, which indicates, that the real bull run is yet to begin.
The monthly chart of PEPE displays a breakout from the inverse head and shoulder pattern, which is technically considered bullish. This indicates multiple attempts by the bulls to lift the price above the bearish influence, which has resulted in a 100% jump. With this, Pepe has entered the top 100 crypto assets according to market cap, securing levels above $750 million. With more potential to showcase, the PEPE price is expected to go beyond the ATH and undergo a giant price rally.
Besides, the popular memecoins, Dogecoin (DOGE) & Shiba INU (SHIB), marked a decent rise of less than 10% at the same time. With a notable drop in volume, it suggests that market participants are less interested in these tokens but the possibility of a similar remarkable run may not be waned.
Presently, the Bitcoin (BTC) price has secured new highs and the markets have become more bullish. This could be the time for altcoin bulls to accumulate strength and initiate a massive explosion once the star crypto clams down.
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