Pepe Price Prediction as PEPE Bounces 1.2% – Time to Buy?
The Pepe price has risen by 1% in the past 24 hours, reaching $0.00001244 as the cryptocurrency market as a whole struggles to make any ground today.
Despite this modest lift, PEPE remains down by 18% in a week, although the meme coin – the 26th biggest token in the market – has risen by 42% in a week and by 1,200% in a year.
Such impressive gains provide PEPE with enough medium- and long-term momentum to set off additional rallies in the near future.
And given that it had dipped in the past couple of weeks, its bounce today could mark the beginning of a renewed climb.
What PEPE’s chart suggests is that the coin is indeed ready to begin rising again, having spent most of the past week losing ground and momentum.
Its relative strength index (purple) had fallen as low as 20 over the weekend, but it has since risen over 50 and, despite a dip earlier this morning, is rising again.
This signals a recovery in momentum, with buyers clearly taking the opportunity to purchase PEPE at a relative discount.
Also pointing to an incoming rebound is the alt’s 30-day average (orange), which after dipping well below the 200-day (blue) has seemingly bottomed out.
As such, PEPE looks ready to jump as soon as one or two larger traders take the lead and send some big buy orders in for the meme token.
And it does seem that some whales are still accumulating PEPE even now, apparently taking advantage of its discounted price.
A whale bought 231.6B $PEPE($2.9M) from #Kraken again 7 hours ago.
The whale has bought a total of 750.34B $PEPE($8.34M) from #Kraken at an average price of $0.00001111 since Mar 16.https://t.co/AbxrKcG4So pic.twitter.com/iXfFmyDmMg
— Lookonchain (@lookonchain) June 9, 2024
The whale mentioned above now has a treasure chest of more
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