Pepe Price Prediction as PEPE Falls 30% Before Bouncing – Dip-Buying Opportunity?
The PEPE price has risen by 1% in the past 24 hours, creeping to $0.000005576 on a day when the crypto market has rebounded by 4%.
This slight recovery doesn’t do enough to erase PEPE’s falls over the past week, with the meme coin down by 25% in a week and by 34% in the last 30 days.
Some may regard such declines as a negative, but they provide traders with the opportunity to buy the coin at a discount in relation to recent prices.
And with the market potentially on course to become more bullish this week, the PEPE price could rally again very soon.
After hitting a bottom over the weekend, it looks as though PEPE is ready to bounce back up and continue rising for a while yet.
Its relative strength index (purple) dropped below 20 late on Friday and then again on Saturday, although it has zigzagged its way back up to 60 today.
At the same time, its 30-day average (orange) had flattened out in the early hours of the morning, before beginning to move upwards again in the past few hours.
This suggests that the coin is beginning to regain momentum and attract buyers, who are perhaps attracted by its reduced price at the moment.
Its trading volume has also returned in the past day, rising to around $1 billion after spending much of last week at around (or below) $500 million.
The smart money deposited 500B $PEPE($3.91M) to #Binance 2 hours ago, with 500B $PEPE($3.91M) left.
He withdrew 1.2T $PEPE($1.88M at the time) from #Binance from Feb 25 to Feb 29.
He earned ~$7.67M(+407%) on $PEPE in just one month.https://t.co/ABl9UzpPE9 pic.twitter.com/tyZY3BbGT0
— Lookonchain (@lookonchain) March 30, 2024
This suggests that larger traders may have returned to the meme coin, although many of the notable whales who had accumulated PEPE in recent
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