Pepe price prediction: PEPE, a meme-based cryptocurrency, has seen a strong price recovery over the past 24 hours. According to CoinGape data Pepe price has surged by 9% to reach $0.00001314, showcasing a notable upward trend. Should the uptrend continue, this frog-themed meme coin could soon reach a new all-time high.

Meanwhile, the market cap has risen to $5.5 billion, ranking #22 among cryptocurrencies. The 24-hour trading volume is $1.3 billion, reflecting a slight increase of 0.36%.

Pepe Price Prediction: What to Expect Next?

PEPE has seen a market correction over the past week, with a 12% decrease in value. This drop in value follows a broader trend observed in the cryptocurrency market, where several altcoins have experienced declines. 

Despite the market downturn, Pepe has shown signs of resilience. Recent trading sessions indicate a potential recovery as buying pressure increases, hinting at renewed investor confidence and a possible rebound in the near future.

Pepe Price Prediction

Over the past month, the Pepe coin has surged by 52% after hitting an ATH of $0.00001718 on 27 May. This remarkable performance has caught the attention of investors and analysts alike, highlighting the potential of meme coins in the current market.

Pepe Coin has seen significant whale activity, with a massive purchase of 256 billion coins. This acquisition, valued at $2.9 million, was withdrawn from Bybit. The whale now holds a total of 291 billion PEPE coins, worth approximately $3.5 million. This latest move signals renewed interest and bullish momentum for PEPE despite the previous day’s market downturns. 

The substantial accumulation of PEPE coins by a single whale suggests the potential for a price rally, sparking optimism among investors and traders. Scopescan revealed these transactions, highlighting the whale’s strategic market moves.

Technical Indicators Suggest Bullish Momentum

Pepe price prediction backs the surge past the $0.000013 support level, suggesting a potential upward trend. If the bullish momentum persists, PEPE price might target $0.00002 and even $0.00003. Increased bullish pressure could push the meme coin to $0.00005 in the next bull run.

On the other hand, if bearish forces take over, Pepe could drop to support levels of $0.000013 or as low as $0.000012. These possible fluctuations underscore the market’s volatility and the opportunities in Pepe’s price movements.

The Pepe coin technical indicators show a slight recovery in its price movement. The Relative Strength Index (RSI) currently stands at 50, indicating a neutral position in the market. The Average Directional Index (ADX) is also at 28.44, showing moderate trend strength.

Pepe Price Prediction: Source: Tradingview

The Moving Average Convergence Divergence (MACD) indicator provides insight into the coin’s momentum. The MACD line is positioned above the signal line, which suggests bullish momentum. The histogram is also in the positive zone, supporting this upward trend. 

The post Pepe Price Prediction: New Record High On The Horizon After Recent Surge? appeared first on CoinGape.