The Pepe Coin price has gained by 1% in the past 24 hours, reaching $0.00000127 as the cryptocurrency market dips slightly by 0.5%.
PEPE's current price represents a 12% decline in the past week and a 21% fall in the past fortnight, although the meme token remains up by 9% in the last 30 days and by more than 2,000% since CoinGecko began tracking it.
The Pepe Coin price has gained by 1% in the past 24 hours, reaching $0.00000127 as the cryptocurrency market dips slightly by 0.5%.
PEPE's current price represents a 12% decline in the past week and a 21% fall in the past fortnight, although the meme token remains up by 9% in the last 30 days and by more than 2,000% since CoinGecko began tracking it.
However, PEPE's recent falls suggest that the coin may have lost its momentum, with there being few signs of any new major exchange listings on the horizon.
Still, the fact that it has bounced up from its $0.0000012 support level raises hopes that it may be on the brink of a significant rebound.
Pepe Coin Price Prediction: PEPE Approaches Support Level – Can Bulls Push it to New Highs?
Encouragingly, PEPE's little rebound today suggests that it could be close to rallying, with its indicators showing renewed signs of strength.
For one, PEPE's 30-day moving average (yellow) has slowed its steep decline of the past few days, and looks ready to begin climbing towards its 200-day average (blue), at which point a breakout could begin.
At the same time, the coin's relative strength index (purple) has moved from a low of 20 yesterday to just over 50 today, another sign that PEPE may continue rising for the next few days.
Even better, PEPE's support level (green) suggests that the recent selloff may have bottomed out, and that the only way now is up.
There's no fundamental reason why PEPE would see a rally now, of course, given that it's a meme token with no real utility or use case.
But if a positive narrative can develop around the meme token, perhaps regarding the possibility of a listing on Coinbase or another major exchange, then it could easily begin rising again.
So far, PEPE has already received high-profile listings from the likes of Binance, OKX and Kraken, so there aren't really many major trading platforms that don't list it.
For this reason, it's hard to see where a bullish news story might come from, with the meme token's 24-hour trading volume declining from more than $2 billion in early May to about $120 million today.
This indicates a massive decline of interest in the token, although some data, such as the quantity of the coin held in the top 100 PEPE-holding wallets, does suggest that whales may be slowly accumulating it.
That accumulation (however modest) is underway could point to an incoming rally, something which is supported to some degree by today's 1% rise.
If so, PEPE may jump from its current price of $0.00000127 to $0.0000015 or even 0.000002 in the next week or so, although this may require a big purchase or piece of news.
