Pepecoin (PEPE) is also facing a lot of selling pressure today, but high activity from crypto whales also suggests a recovery is possible. After falling more than 3% in the past 24 hours and 14% in the past week, is there still hope for this well-known cryptocurrency?
Although the PEPE price is dragged down by the rest of the market, it is still supported by the important support level of $0.0000170. Around this level, demand is likely to increase, leading to increased buying pressure and a recovery rally. But if this support level is also broken, the price may fall below $0.0000100.
Will Pepe Coin rise? That's what the on-chain signals indicate.
From the low long-short ratio, it can be seen that the selling pressure on Pepe Coin is still high. Coinglass data shows that short positions account for over 53%, while long positions are slightly below 47%. This means that most traders expect further declines in the short term.
This famous meme coin seems to have lost a lot of momentum, down 38% from its historical high of $0.00002825. Additionally, PEPE's on-chain activity has declined since peaking in November.
This is not all, as meme coins usually perform poorly when the entire cryptocurrency market is under attack. Over the past month, the market cap of meme coins has dropped by 24% to $97 billion.
The fact that PEPE is down is also positive, as it indicates that when meme coins become popular again, cryptocurrency memes will recover. Investors who are patient enough and buy more during the downturn may become wealthy through Pepe Coin.
Pepe Coin Price Prediction – What Will PEPE Do?
Pepe Coin follows market trends and, like many other cryptocurrencies, has fallen below the 30-day moving average (yellow). This is a sign that meme coins can rebound with market changes.
However, if it loses support around $0.0000170, meme tokens will decline further. In this case, investors may need more patience to earn significant profits from meme coins.
The 30-day moving average also represents the next resistance level for PEPE, which is around the $0.0000200 level. However, if the market recovers, breaking through this resistance level may not be a problem.
In short, unless PEPE can hold the support level around $0.0000170, it may further decline in the coming week. In the long run, it seems that nothing can prevent this frog from setting new historical highs. Later this year, PEPE may drop to zero, but for that, it must rise by 470%.
Will Pepe Coin become the Shiba Inu of 2025?
Some cryptocurrency analysts remain optimistic about Pepe Coin, believing it will become the next Shiba Inu:
However, the difference is that PEPE is not an unknown cryptocurrency, unlike before Shiba Inu was born. This means that growth of 10,000% or more from here is no longer realistic, as it would push its market cap to $700 billion, far exceeding the current Ethereum.
A significant increase of 100 times is almost only possible with unknown small cryptocurrencies whose market cap is far below $1 billion. Although such large gains are very rare, the benefit is the potential to make a lot of money with a small investment.
