Prediction for Pepe Price: PEPE Falls 30% Should I Invest in the Dip Now?
Since the meme token hit a new all-time high on May 27, its price has fallen by 45% in the last 24 hours, reaching $0.00001218, a significant 29% loss.
Although PEPE maintains a 6% monthly gain and a very strong 1,200% growth in the previous year, it is 15% down in a week.
Since its recent declines are being experienced within the framework of medium- and long-term growth, one might see today's decline as a chance to purchase the token at a discounted price.
Since the currency is still among the most beloved meme tokens on the market, especially among whales, a resurgence is quite probable.
The purple relative strength indicator of the currency has shown fresh life since reaching 30 last night, and the price of Pepe has climbed by about 1% in the last hour.
The 30-day moving average (orange) of the coin is also making a turnaround; it has fallen well below the 200-day (blue) and is now flattening out, suggesting a possible comeback.
The fact that the green support level and the red resistance level of PEPE are gradually merging is also noteworthy; this might mean that the meme token is getting ready for a major shift.
It may be argued that PEPE is prepared for a new growth era because it has mostly declined since its ATH.
Its volume is similarly modest, at $800 million today, down from $1.8 billion when it reached its all-time high.
This may happen soon since the debut of the newly authorized Ethereum ETFs is expected to increase demand and general bullishness.
In the wake of rate decreases in the European Central Bank (ECB), Canada, Switzerland, and Sweden, the United States and maybe other countries may follow suit with small reductions.
