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After the PEPE price broke through the channel and hit a new high in November, the meme coin has shown a rebound after retesting. With the PEPE bull market restarting, the bulls expect the rebound next week to hit a new high.

As one of the best-performing currencies, will PEPE break a new high next week? Check out the latest PEPE article on Coinpedia for more information.

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PEPE Price Performance

In the PEPE daily chart, the meme coin is showing a bullish recovery and regaining momentum. The sustained recovery trend started around $0.000075 and formed a morning star pattern.

This rebound reached a high of nearly 200%, approaching $0.000025. However, the breakout of the downward channel quickly retested the previous historical high of around $0.000017223.

Last night, it rose 10%, forming a bullish engulfing candle, ending the five consecutive red candle trend. This also marks the rebound of the meme token after the retest.

Currently, the bull market continues, with an intraday increase of 2.79%, and the PEPE price is $0.00002126.

How likely is a 10x rebound for PEPE?

Using Fibonacci retracement levels based on the trend, the uptrend is approaching the 23.60% Fibonacci level, which is $0.00002303. Considering the recovery cycle of the broader market will be extended, the PEPE price bull market is likely to reach $0.00002989 by the end of November.

Therefore, the PEPE price is expected to surge 40% next week. On the other hand, $0.00001879 may provide bullish support.