Pepe Classic Price Prediction as Top 2023 Meme Coin Pumps 10%. Return of the Frog?

cryptonews.com:

The PEPE price has surged by 10% in the past 24 hours, pushed to $0.000000802775 as the cryptocurrency market as a whole rises by 2% in the same timeframe.

Thanks to today's lift, PEPE is now up by 30% in a week and by 20% in the past fortnight, although the meme token remains down by 9% in the last 30 days and by 81% since reaching an all-time high of $0.00000431 in early May.

Yet its outperformance of the market today shows that previous heavy losses can often turn more easily into bigger gains, with PEPE's overselling in recent months potentially laying the foundations for further rallies to come.

There's little doubt that PEPE has begun what looks like a breakout rally, one which had been overdue for quite some time.

Perhaps most tellingly, the meme token's price has jumped over its 30-day moving average (yellow), a sign that it could be consolidating to a new, higher level.

Likewise, the coin's relative strength index (purple) has jumped towards 60, after spending more than a month near or below 30, which is indicative of heavy overselling.

In other words, it seems that buyers are taking the opportunity to acquire PEPE on the cheap while they still can, with data indicating that whales have indeed begun accumulating the meme token again.

Yet PEPE's status as a 'pure' meme coin should make potential buyers wary that it could come down hard again after its current rally has played out, with whales obviously accumulating the token early only so that they can dump their bags on retail investors later down the line.

As such, traders will need to time their entries and exits carefully, with today potentially being the latest they could buy some PEPE and realistically expect a market-beating profit.

Having said that, PEPE has