Pepe Coin Price Prediction as PEPE Rallies Up 10% From Recent Low – Time to Buy?
The Pepe Coin price has dropped by 5.5% in the past 24 hours, with its decline to $0.00000137 quickly erasing the ascent to $0.00000150 it recorded yesterday.
PEPE's current price means it has dropped by 13% in a week and by 19% in a fortnight, although the meme token remains up by 130% in the last 30 days.
This gain is still enough to make it one of the best-performing top 100 coins of the past month, even if it seems that it has lost a little momentum in recent weeks.
But with the possibility of further exchange listings on the horizon, PEPE could soon rally again, with its corrected price making it attractively undervalued right now.
PEPE's chart may look very weak right now, but it could be argued that this provides a perfect opportunity to buy the meme token on the cheap.
The altcoin's relative strength index (purple) has just dropped very close to 20, signalling that it's very oversold at the moment, and should be due a rebound.
Likewise, PEPE's 30-day moving average (yellow) and its price have dropped far below its 200-day average (blue), another indicator that it has been oversold and should correct soon enough.
However, the thing with technical analysis is that its tools have generally been developed for normal stocks, which belong to companies with actual businesses and fundamentals.
PEPE, on the other hand, is a pure meme token, so even if the technicals are 'pointing' in a particular direction, its complete lack of fundamental utility could mean that its bubble has finally burst and that it's on the way out.
This fear is heightened by PEPE's support level (green), which now shows a steep decline after the altcoin fell through the $0.000001375 level earlier this morning.
That it has fallen through this level may very
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