Pepe Price Prediction as $500 Million Volume Pushes PEPE Up 30% – Can PEPE Reach 1 Cent?
The Pepe price has risen by 16% in the past 24 hours, with its move to $0.00000119 finding the meme token outperforming the market as a whole, which has gained by 1.5% today.
PEPE has now risen by an impressive 90% in a week, making it the best-performing major token of this period.
Yet with the coin still 71% down from its record high of $0.00000431, the PEPE price still has plenty of room for improvement, with its $500 million trading volume suggesting that further rallies could be coming soon.
PEPE’s indicators are currently flashing very hot, yet there may still be space for the coin to rise more before running out of steam.
Its relative strength index (purple) remains at around 75, so even though it has dipped a little it signals considerable ongoing momentum.
Similarly, the meme token’s 30-day average (yellow) is rising steadily, while its price has shot up decisively beyond this average, another sign of fierce buying pressure.
It’s also worth pointing out that PEPE’s medium-term support level (green) has remained stable for several weeks now.
This implies that it had bottomed out prior to this week’s rally, with the coin unlikely to fall back down to the $0.0000006 area anytime soon.
PEPE has rallied strongly in the past few days as part of a bigger market-wide rally, with growing expectations of Bitcoin ETF approvals fueling optimism.
Whales in particular have also helped it outperform the market, with a number of large buys happening this week.
9x9x9 (@9x9x9eth) exchanged all $SUSHI positions for $PEPE.
He sold 2.36M $SUSHI($1.34M) at an average price of $0.57 and spent 851 $ETH($1.42M) to buy 1.89T $PEPE 8 hours ago.@9x9x9eth lost a total of ~$30M in $SUSHI including all CEX buys.https://t.co/T6pR4ohAwr
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