Pepe Coin Price Prediction as $750 Million Trading Volume Comes In – Are Whales Buying?
The Pepe Coin price has fallen by 13.5% in the past 24 hours, with its drop to $0.00000227 also representing a 47% dive since the new meme token reached an all-time high of $0.00000431 on Friday.
Despite this decline, PEPE remains up by over 200% in the past week and by more than 600% in the past fortnight, with the altcoin also gaining by over 4,000% compared to the lowest price recorded by CoinGecko.
This makes it the hottest coin in the top 100 right now, with its 24-hour trading volume remaining vastly elevated compared to where it was even a few days, at $750 million.
Given this continued liquidity, it remains likely that PEPE could witness further gains in the coming days, with a number of whales still sitting on big positions.
PEPE's chart suggests that it's close to reaching the bottom of its current decline, with its relative strength index (purple) dropping below 30 in the past few hours, indicating that it's becoming oversold.
Likewise, its short-term moving average (yellow) is about to drop below its long-term average (blue), and once it does the market can expect it to begin recovering.
On the other hand, PEPE's support level has been declining since Saturday, implying that there may still be a few additional falls in store before the meme token can begin rising again.
Aside from pure meme-ness, one of the reasons that PEPE has had such a strong few days is that it has received listings on a number of big exchanges, including Binance and OKX.
Given that OKX alone appears to have stocked up on 4% of the overall PEPE supply, such listings have really boosted the meme coin's liquidity, with its 24-hour trading volume up to $750 million, from just over $300 million this time last week.
And while PEPE's price is down
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