Pepe Price Prediction as PEPE Goes Up 14% – Is It Time To Buy?
The PEPE price has jumped by 14% in the past 24 hours, with the coin reaching $0.000007027 on a day when the crypto market recovers 2% from its recent downturn.
PEPE is now down by 4% in a week but up by 45% in the past fortnight, with the popular meme coin also sitting a healthy 500% gain in a year.
Yet because it remains 33% down from its all-time high of $0.00001064 (set two months ago), it still has plenty of space to rise further.
As such, the following days could see additional gains, particularly as the market returns to growth.
PEPE’s chart and indicators are showing considerable momentum today, with the coin on course to make some gains in the near term.
Its 30-day average (orange) is not very far from climbing over its 200-day (blue), forming a ‘golden cross’ that would signal a more definitive breakout.
At the same time, PEPE’s relative strength index (purple) has been climbing towards 50 over the past couple of days, and it could continue towards 70 or higher as the coin’s price rises.
Another encouraging sign is the token’s volume, which remains high at $1 billion, with one whale transferring PEPE off Binance a few hours ago.
Whale 0x546 withdrew 331.3B $PEPE ($2.24M) from #Binance at $0.0₅675 an hour ago.
Notably, the whale shared the same Binance deposit address with Smart trader 0x1c6, who sold all $UNI before the price dropped on Apr 10, 2024, and realized an est. profit of $6.99M (+70.7%).… pic.twitter.com/s15dIii6rd
— Spot On Chain (@spotonchain) May 2, 2024
This indicates that ‘smart’ money is betting on PEEP making further gains in the near future, with the coin likely to be one of the main beneficiaries of ongoing market-wide recoveries.
As a meme token, it tends to rise harder when the market rises as a
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