Coming Pepe Price Rally? $1.1 Billion Buys the Dip—Can PEPE Reach $1?
Pepe rose 2% in the last hour to $0.000008195 while the cryptocurrency market fell 4% in the previous day.
PEPE is up 12% in a week and down 7% in a month, but it has up 1,100% in the previous year.
This mini-surge comes as its trade volume approaches $1 billion, with whales resuming meme token accumulation in recent weeks.
This suggests price increases, especially as the market heats up at year-end.
The coin's massive jump today rekindled enthusiasm after a slow week.
Its relative strength indicator (purple) rose over 60 after dipping to 40 this morning, indicating buyers.
Today, its volume has increased, and its resistance (red) and support (green) levels are near to clashing -- promising.
After a modest retracement today, the Pepe price may breakout later in the week.
After a calm August, the meme token has risen in recent weeks.
This suggests whales anticipate PEPE to resume to growth shortly, and as one of 2024's best-performing coins, it has enough medium- and long-term momentum to conclude the year strong.
It will benefit from the market's better attitude and the Fed's rate decrease last week.
PEPE is expected to be whales' favorite big meme currency for some time, meaning it will outperform its top-100 competitors.
Thus, Pepe might hit $0.000010 next week and $0.000015 by year's end.
