Pepe Price Prediction as $800 Million Trading Volume Comes In – Are Whales Buying Again?
Today, PEPE has experienced slight growth amid a broader market retracement, with signs of potential whale inflows.
The PEPE token has experienced a 0.39% increase over the past 24 hours, bringing its price up to $0.00001415, amidst a broader retracement in the crypto market.
In a pullback, PEPE has posted a weekly loss of 12.55%, in a reversal of its impressive monthly rise of 67.28%.
Over the past year, PEPE has yielded a remarkable return of 1,299.26%, outperforming major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and SOL.
This robust performance indicates strong and widespread investor interest in PEPE.
With the meme coin’s 24-hour trading volume surging to 1.52B in the past week, it seems that its short-term momentum could hint toward a rebound.
After dipping in the early hours of this morning, it seems that PEPE is ready to rebound again.
In particular, its relative strength index (purple) has fallen from 65 to 30 in the past 48 hours.
This suggests PEPE is oversold, indicating it might be undervalued and a price bounce could be forthcoming.
This may be the case if PEPE can successfully retest the 0.00001411 support level (Yellow). A decisive reversal upwards would suggest that the recent retrace was temporary and does not signal a complete shift in momentum – there is still confidence among investors.
Supporting this view is the coin’s trading volume, which currently sits at $800M, and 1.52B over the past 24 hours.
This hints towards some potential large hands flooding into the market.
However, if Pepe breaks decisively below this, it may mean that further downside is ahead.
The 200-day moving average (blue) is trending downward, with the 30-day moving average (yellow) following suit below it after a crossover last
Read more on cryptonews.com
