Pepe Coin Price Prediction as PEPE Surges Up 15% and Becomes Best Performing Meme Coin in the Market – What's Going On?

cryptonews.com:

The Pepe Coin price has surged to $0.00000124 in the past 24 hours, with its 15% rise in the past 24 hours making it the best-performing meme token in the market right now.

Despite this gain, PEPE remains down by 1.5% in the last 7 days and by 15% in the last 30, with the altcoin also having declined by 71% since hitting an all-time high of $0.00000431 in early May.

This means that today's rally could be regarded mostly as a long overdue – and only partial – upwards correction for PEPE, which remains a plaything for whales and other big traders, and could therefore see further rises before it almost inevitably dips again.

Having spent the past two or three weeks declining steadily, PEPE's rally over the past day now means that its technical indicators are beginning to show some much-missed momentum.

PEPE's relative strength index (purple) has shot up from nearly 30 yesterday to just over 60 today, with this rise in momentum having some room left to increase further before the RSI tops 70 and the coin becomes overbought.

Similarly, the coin's 30-day moving average (yellow) had reached a bottom in relation to its 200-day average (blue), but now it has begin to turn upwards and looks set to rise all the way back up to the longer term average.

There's a strong argument to the effect that PEPE has been oversold and undervalued for too long now, and that it's due a big rally, which may potentially have just begun.

However, traders need be aware that PEPE remains a 'pure' meme token, with no fundamental value or intrinsic worth, so there's nothing to stop it falling back down again.

And it could fall hard even before its technical indicators reach 'overbought' positions, such is the coin's volatility.

A big reason why PEPE has risen and