This forecast aligns with a combination of technical patterns and broader market dynamics that have positioned Pepe for a potential surge in market cap and price performance as meme coins continue to outperform the market.

Analyst Predicts a Game-Changing Rally

Pepe Coin’s recent price movement has been closely scrutinized after dipping to $0.000015 during a market-wide downturn. However, a crypto analyst believes the coin is now poised for a “perfect storm,” with technical indicators suggesting a potential rally. The symmetrical triangle pattern observed on the weekly chart hints at a bullish continuation, providing a foundation for optimism.

‘Perfect Storm’ prediction positions Pepe Coin to overtake Shiba Inu. Source: Jameson via X

The analyst also highlighted Ethereum’s anticipated price rebound as a catalyst. “If Ethereum breaks past $5,000, it could fuel liquidity flows into meme coins like Pepe,” the analyst stated. He further projected that Pepe’s market cap could rise from its current $7.3 billion to an impressive $50 billion during this market cycle.

Such growth would place Pepe ahead of Shiba Inu, which currently holds a $12.6 billion market cap. For Pepe to surpass SHIB, it would require a 75% price increase—a plausible scenario if market conditions align favorably.

Price Patterns Bolster Bullish Sentiment

Pepe Coin’s daily chart reflects a mixed but promising outlook. On the upside, the coin has successfully retested the critical support at $0.00001716, a level corresponding to the upper boundary of a long-formed cup-and-handle pattern. This retest indicates the possibility of a continuation toward higher levels.

Pepe Coin’s path to surpassing Shiba Inu relies on maintaining its momentum and seizing favorable market conditions for a potential breakout. Source: Real_CryptoRoy/TradingView

Adding to the bullish narrative, it would seem the coin has traded a triple-bottom pattern at the neckline, around $0.00002826, an uptick from the current level by 65%. Furthermore, Pepe rests above its moving average of 100 days—a gauge of sustained upward momentum.

But that would be a conservative estimate. The potential head-and-shoulders pattern with a neckline at $0.00001713 does leave some room for bearish worries. In such a case, Pepe slides back to $0.000010—a psychological support and 42% decline.

Shiba Inu’s Struggles May Benefit Pepe

Meanwhile, Shiba Inu coin has fought its own battles, sliding 2.23% in the last 24 hours to $0.00002167. The price of SHIB is down 20% in the last month, though the cryptocurrency is still up 106% on the year. SHIB is currently 75% below its all-time high of $0.00008845.

Shiba Inu (SHIB) price chart. Source: Brave New Coin

The Shiba Inu ecosystem has been a constantly evolving project; the latest move is the announcement of an incoming Web3 game, Lap Dogs, designed to bolster the network’s blockchain gaming reach. As welcomed as these additions may be, SHIB’s price action continues to trail when compared to PEPE’s current traction.

Projections for SHIB in January 2025 range between $0.00001782 and $0.00004582, with a maximum return of 110% from its current level. These figures more or less underline the fierce competition between the two meme coins.

The Road Ahead for Meme Coins

The broader cryptocurrency market has seen a resurgence, with Bitcoin recovering to near $100,000 ahead of key macroeconomic data. This renewed optimism has created fertile ground for altcoins and meme coins to regain traction.

Pepe (PEPE) price chart. Source: Brave New Coin

For Pepe Coin, the path to overtaking Shiba Inu hinges on sustaining its current momentum and capitalizing on favorable market dynamics. While risks persist, the confluence of technical patterns and bullish sentiment suggests that Pepe may indeed be gearing up for a breakout year.

As the meme coin rivalry intensifies, investors will closely monitor whether Pepe can turn the tide and solidify its place as the second-largest meme cryptocurrency.