Pepe Price to Rise? Support Level Absorbs $300 Million Overnight
Pepe Coin (PEPE/USDT) is gaining notice after $300 million was absorbed at a key support level overnight. Investors expect a comeback after a drop.
At $0.0000113, the coin's market cap is $4.7 billion. The Pepe price forecast suggests a market stabilization price rise due to technical signs indicating oversold conditions.
VanEck's Mystery Post Boosts Pepe Coin Amid Market Volatility VanEck's curious frog meme on X (previously Twitter) showed a frog leading a board meeting with other animals, which boosted Pepe Coin's price.
The message, labeled “Important topics were discussed at the board meeting,” fueled cryptocurrency speculation. However, social media chatter helped the currency recover and rise 11% in a week.
Rapid Recovery: Pepe Coin rose 11% on social media excitement after a slump.
Following its Ether ETF proposal, VanEck filed for a Solana ETF and became the first U.S. business to offer another cryptocurrency ETF.
VanEck's entertaining article has improved morale in the Pepe meme community, signaling sustained interest and investment in the currency. A Pepe currency ETF seems doubtful.
Pepe Price Prediction
Popular memecoin Pepe (PEPE/USDT) is on the decline. Sunday's price was $0.0000113. Despite an almost 4.50% drop in 24 hours, the coin's market worth is $4.7 billion.
While prices are falling, an upward trendline provides support about $0.00001085. This shows that the dip may be brief and a resurgence imminent. Technical signs are also hopeful.
The coin's RSI is 40, indicating oversold, which frequently predicts a price gain.
However, the 50-day Exponential Moving Average (EMA) of $0.0000118 may limit short-term gains.
These important levels are being watched for buying possibilities, with a stop-loss order below $0.0000104. Based on its technical view, Pepe may rebound soon if it breaks the 50-day EMA.
