Pepe Coin Price Prediction as PEPE Rallies 75% After Volume Surge – What's Going On?

cryptonews.com:

The Pepe Coin price remains up by 75% in the past week, despite falling by 3% today to $0.00000155.

This represents a 2,700% gain since TradingView began tracking the meme token's price in mid-April, although it has fallen by 63% since setting an all-time high of $0.00000431 in early May.

This was when the market's recent mania for meme coins had reached a peak, with PEPE struggling to maintain momentum since then.

However, the recent market-wide recovery (caused largely by BlackRock's application for a spot Bitcoin ETF) has helped PEPE recover in a big way, and with its trading volume remaining high, it could still see further gains in the coming days.

PEPE's indicators remain in a good position, even if they may be close to correcting, along with the coin's price.

For one, PEPE's 30-day moving average (yellow) has risen well above its 200-day average (blue), meaning that it may be close to plateauxing and then coming back down.

Similarly, the meme token's relative strength index (purple) has begun sliding downwards over the pasr few days, falling from just over 80 several days ago.

This would indicate that PEPE is losing a little momentum and may be due a correction, although it is worth underlining that both indicators remain in strong positions, signalling continued momentum.

It's also worth mentioning PEPE's trading volume, which remains elevated, with today's 24-hour reading at around $250 million.

This is much higher than it was a week ago (when it reached around $70 million), even if it still doesn't quite match the $1.6 billion level it reached when the token hit its ATH of $0.00000431.

It's likely that what has happened in the past few days is that (some) whales have begun buying PEPE again, using the recent market-wide