Pepe Price Prediction: PEPE Plummets 29% – Is It Time to Buy the Dip?
The Pepe price has dropped by 4.5% in the past 24 hours, with its fall to $0.00001218 representing a big 29% loss since the meme token reached a new ATH on May 27.
PEPE is also 15% down in a week, although it holds onto a 6% gain in a month and a very healthy 1,200% increase in the past year.
Its recent falls therefore come in a context of medium- and long-term growth, meaning that today’s fall provides an opportunity to buy the token at a discount.
It’s likely to rebound again very soon, with the coin remaining one of the most popular meme tokens in the market, particularly among whales.
What PEPE’s chart tells us is that the coin has bottomed out in the past 24 hours and looks ready to recover again soon.
Indeed, the Pepe price has actually gained by nearly 1% in the past hour, with the coin’s relative strength index (purple) showing renewed momentum after hitting 30 last night.
Also turning a corner is the coin’s 30-day moving average (orange), which after falling a long way below the 200-day (blue) is beginning to flatten out, as if preparing for a rebound.
It’s also significant that PEPE’s resistance (red) and support (green) levels are slowly converging on each other, implying that the meme token is preparing for a big move.
And because PEPE has spent the time since its ATH largely declining, it’s arguably ready for a new period of growth.
A whale deposited 365.96B $PEPE($5.3M) into #Binance for profit just now!
He withdrew 365.96B $PEPE($494K at the time) from #MEXC on Dec 13 and Dec 16, 2023.
He turned $494K into $5.3M in less than 6 months, with a profit of $4.82M and an ROI of 976%!https://t.co/HXCrl0QBxm pic.twitter.com/jeFRd6NyWK
— Lookonchain (@lookonchain) June 4, 2024
Yet at the moment it seems that no whales are
Read more on cryptonews.com
