October is living up to its “Uptober” reputation so far. The crypto market has kicked off the month with a massive surge, giving traders confidence as positive sentiment builds across the board.
Leading the way, both Bitcoin and BNB have smashed through their previous all-time highs in just the last few days. This bullish performance from two of the market’s leaders is pulling other altcoins along with them.
Ethereum has been a key part of this rally, too. While it hasn’t quite reached a new record high yet, ETH is up significantly and is showing signs that it wants to test its own peak price – and potentially even head to $5,000.
And while the big names are running, some traders are asking if a new project, PEPENODE, could be the best crypto to buy for those seeking truly market-beating potential. PEPENODE has raised $1.7 million in its presale as investors scramble for early exposure.
Ethereum Shows Strength as Key Catalysts Align
After months of volatility, Ethereum has found its footing. Right now, ETH is trading at $4,350, a 13% rally from its lows in late September. While the token’s price did pull back a bit from its peak on Tuesday, this is viewed as healthy profit-taking after such a quick rally.
So, what’s driving Ethereum’s momentum? A mix of factors is at play, starting with huge institutional interest. Spot ETH ETFs have seen eight straight days of net inflows, with October’s total already topping $1.1 billion – more than double all of September.
This demand is being helped by a better macro environment, with last month’s interest rate cut encouraging investors to look at risk assets. It’s a common move: when money gets cheaper to borrow, some of it finds its way to crypto.
Then there’s the classic supply squeeze scenario. With exchange reserves hitting a three-year low and more ETH being locked up in staking, the available supply is decreasing. This scarcity could be a factor in any future price appreciation.
Ethereum Price Prediction – Can ETH Reach $5,000 This Month?
The big question now is whether Ethereum can break its all-time high and hit $5,000 before the end of October. With ETH’s price less than 15% away from that milestone, it’s achievable – but not guaranteed.
The case for a new high this month rests on a few key factors. The most important factor is the continued flood of capital into spot ETH ETFs, which provides persistent buying pressure from institutions.
If that demand remains strong and the broader crypto market stays bullish, a push through final resistance around $4,800 could happen in the coming weeks. The ongoing supply squeeze – with less ETH available on exchanges – also helps this argument.
However, there are obstacles. The $4,800 level has proved to be a stumbling block several times since August. Plus, the record-breaking ETF inflows aren’t guaranteed to continue. Lastly, the derivatives market might also work to keep ETH’s price “pinned” in its current range for a while, burning through the limited time left in October.
Why Traders Are Discussing PEPENODE as the Best Crypto to Buy in Uptober
While a run to $5,000 for Ethereum would be impressive, many investors are seeking the kind of explosive returns typically found in newer alts. This is where a token like PEPENODE becomes appealing.
PEPENODE is calling itself the first “Mine-to-Earn” meme coin. The core idea is to give users the rewarding experience and progression of crypto mining, but without the massive real-world costs of electricity and hardware.
It’s a fully on-chain virtual mining game where players set up and upgrade digital mining rigs to generate hash power and earn crypto rewards (in PEPENODE and other meme coins). That turns a complex process into an accessible one.
PEPENODE’s gameplay loop is simple: players use PEPENODE tokens to buy and upgrade “Miner Nodes” within a virtual server room. More powerful setups generate more rewards, and the creators give an advantage to presale investors by offering the most powerful nodes first.
This approach is going down well, as the project has already raised over $1.7 million in its presale. Even some top crypto YouTubers – including Michael Wrubel – have talked up PEPENODE’s potential.
With influencer backing, strong presale demand, and a low price of $0.0010918, PEPENODE has much higher upside than big alts like ETH. That makes it one of the best cryptos to buy now.
Visit PEPENODE Presale
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