Pepe price prediction: Trump posts a Pepe meme on social media – Is he about to buy?

Trump's post on Truth Social on May 29 has been seen by many as a subtle tribute to Pepe, creating significant viral momentum and reinforcing the price prediction for Pepe to rise. This situation is compared to Elon Musk publicly supporting Dogecoin, which helped propel DOGE to the top of the cryptocurrency market in the most recent bull cycle.

Although it is not a clear endorsement, Trump's post has sparked a wave of excitement among speculators, fueling hopes that history may repeat itself with PEPE. However, the market's reaction has been restrained by broader macroeconomic pressures. The 6% price increase in the hours following the post quickly gave way to an 18% correction. The sudden change by the U.S. International Trade Court regarding Trump's tariff suspension seems to be the main driving force behind this change, as risk appetite decreases and traders remain cautiously optimistic. PEPE price prediction: Can speculative hype push the price to new highs? A more direct move from the president could provide PEPE with the necessary momentum to break out of the handle formation of the cup and handle pattern that has been in place for 5 months.

The initial market reaction to Trump's post pushed the PEPE price to a higher resistance level, but the move lacked the persuasiveness to retest completely. The momentum indicators are currently supporting the bearish side, with the MACD widening the gap below the signal line after a recent death cross—a sign of a prolonged downtrend in the short term. Furthermore, the RSI is on track to break below the neutral line at 52, following a strong downward trend. If this trend continues, sellers will overwhelm buyers. A social catalyst can sustain this model, with the Fibonacci retracement of 0.618— a common bottom level in small corrections—at the $0.00001 level acting as a potential reversal point. Conversely, a breakdown below the lower support level could completely invalidate the bullish pattern, targeting the next important support level at $0.000008. If there is a breakthrough in mid-June, the cup and handle pattern indicates that the price will rise to $0.000026 - a 100% increase from the current price.