Pepe Price Prediction as PEPE Spikes up 5% – Can PEPE Reach $1?

cryptonews.com:

The Pepe price has risen by 1% in the past 24 hours, with its move to $0.00000175 also representing a 10% gain in the past week.

PEPE was up by as much as 5% at one point this morning, with its spike standing in contrast to the cryptocurrency market as a whole, which has barely moved today.

The meme token is also up by 88% in the past fortnight and by 37% in the last 30 days, with these gains helping it to recover some of the value it has lost since reaching an all-time high of $0.00000431 in early May, when investor appetite for meme coins was at its peak.

But with momentum back on its side, PEPE could see further rallies in the coming weeks, potentially enabling its price to lose several decimal places.

PEPE's indicators suggest that the coin's rally could still continue for a while yet, with its 30-day moving average (yellow) climbing further above its 200-day average (blue).

Also signalling ongoing momentum is PEPE's relative strength index (purple), which remains above 60 despite a little dip earlier this morning from 70.

On top of this, PEPE's support level (green) is showing increasing strength, enabling the meme token to push forwards from an increasingly high base.

Taken together, these indicators all suggest that PEPE may continue to rise for the next few days, if not longer, with the meme token targeting $0.0000020 in the short term.

It does seem that whales are currently banking on further PEPE gains, with one large transaction showing a transfer away from Binance and to a private wallet.

Of course, while there have also been other recent large purchases of PEPE, the latter's status/existence as a meme token is likely to mean that its price will fall sooner or later, once whales decide to take their profits.

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