Pepe, the Ethereum-based Memecoin, is on a roll, with its price surging by nearly 7% in the past 24 hours. Currently trading at $0.0000127, Pepe is hovering around 27% above its weekly low. This impressive recovery is part of a broader trend, with other Memecoins like dogwifhat (WIF) and Brett (BRETT) also experiencing significant gains.

If the bulls can push Pepe's price above the resistance level of $0.0000135, the coin could be poised for a breakout towards its all-time high of $0.0000173. However, if the bears take control, Pepe's price could plummet to $0.0000224, with the maximum target of $0.0000263 in sight. This would put Pepe's market capitalization at around $12 billion, equivalent to 60% of Dogecoin's current value.

But what if the current rally fizzles out? If Pepe's price drops below the strong support level of $0.0000107 to $0.0000099, a retest of the horizontal support at $0.0000090 is likely. If Pepe fails to hold this level, a further correction could take it down to $0.0000076, where brave investors might try to stabilize the price.

If this level is breached, the correction could extend to $0.0000066, and if Pepe's price continues to plummet, it could even revisit its monthly low of $0.0000056. And if the bulls are nowhere to be found, a further correction could take Pepe down to the strong support zone around $0.0000048 to $0.0000044.

The fate of Pepe hangs in the balance, as the market waits to see if the bulls can keep the momentum going or if the bears will take control. One thing is certain, however: the Memecoin space is full of surprises, and Pepe's price action is just one of many exciting developments in this rapidly evolving market.

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