The cryptocurrency market has witnessed a healthy turnaround over the last few days. Memecoins, particularly, have had a commendable price increase following Bitcoin’s (BTC) ascent to $63,000. Pepe (PEPE) and dogwifhat (WIF) follow this bullish trend, rallying double digits in the weekly charts.
Also Read: This Memecoin Rallied 3600%: Outshines Shiba Inu & Dogecoin
Memecoins Outshining Other Assets?
The frog-themed crypto has been up 3.2% in the daily charts, 15.6% in the weekly charts, 18% in the 14-day charts, and more than 1090% since September 2023. Despite the rally, the asset is still down by 6.6% over the previous month.
Source: CoinGecko
Also Read: Bitcoin Surges Past $64K: Is $90K the Next Target?
WIF, on the other hand, is green across the board. The dog-themed meme coin is up 6.2% in the daily charts, 30.5% in the weekly charts, 27.2% in the 14-day charts, and nearly 6% over the previous month.
Source: CoinGecko
While the recent rally is commendable, WIF and PEPE may hit new all-time highs soon.
PEPE And WIF To Hit New All-Time Highs
PEPE is currently down by nearly 51% from its all-time high of $0.00001717. dogwifhat (WIF), on the other hand, is down by 59% from its peak of $4.83.
According to CoinCodex data, PEPE could hit a new all-time high of $0.00002882 on Oct. 23, 2024. Reaching $0.00002882 from current price levels will translate to a rally of about 241.5%.
Source: CoinCodex
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CoinCodex analysts also paint a bullish outlook for dogwifhat (WIF) over the next few weeks. The platform anticipates the asset to hit a new all-time high of $6.72 on Oct. 23, 2024. Reaching $6.72 from current price levels will entail a rally of about 237.7%.
Source: CoinCodex
October is historically a bullish month for the cryptocurrency market, and we may witness a market-wide rally soon.