Pepe Price Prediction as PEPE Dips From Recent High – Next Leg Up Starting Soon?
The Pepe price has fallen by 4.5% in the past 24 hours, sinking to $0.00001365 after reaching a new all-time high of $0.00001526 yesterday.
Given its recent performance, the meme coin remains up by a very healthy 37% in a week and by 74% in a month, making it the best-performing top-100 token over these timeframes.
PEPE has also gained by a massive 820% in a month, indicating some very strong long-term momentum that should kick in again once today’s dip has played out.
And with the wider market likely to become increasingly bullish amid the approval of ETH ETFs yesterday, the Pepe price could reach a new ATH very soon.
After pushing hard at the beginning of the week, it does seem that PEPE is currently running out of momentum, with its indicators pointing to an ongoing correction.
Its relative strength index (purple) has fallen from 70 earlier this morning to nearly 40 as of writing, and it could continue to decline over the next day or so.
Perhaps more worryingly, the coin’s 30-day average (orange) has begun dropping downwards after spending several days rising aggressively beyond the 200-day (blue), which it may now be on course to fall below.
It’s certainly possible that, after reaching several new record highs over the past few days, PEPE could suffer a sustained correction lasting a week or so.
Having said that, its volumes remain close to record highs at around $2.4 billion, with some whales still accumulating the token in the past 24 hours.
The whale withdrew 390.56B $PEPE($5.54M) from #Binance again 3 hours ago.
In less than 2 days, this whale bought 982.56B $PEPE($13.6M)!https://t.co/8NNLKRdIKW pic.twitter.com/zc0Jvx9hIT
— Lookonchain (@lookonchain) May 23, 2024
It’s therefore entirely possible that, with demand and
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