Pepe Price Forecast: Are Whales Buying the Dip as $1.3 Billion Flies In?
The coin's 2023 trading volume was higher than that of many altcoins, so even with the drop, it still garnered a lot of interest from cryptocurrency enthusiasts.
Thanks to his amazing success, Pepe is now one of the top ten cryptocurrencies according to assessments of his trading activities on a weekly and monthly basis.
With a 24-hour trading volume of $1,966,755,000, Pepe's price has fallen almost 10% in the last 24 hours and is now $0.000013.
Now that it has a live market capitalization of $5,521,137,693 and is ranked #22 in the market, everyone is wondering what is driving its price, especially whether whales are buying the drop.
Estimate of Pepe's Value
The current price of Pepe (PEPE) is $0.000013, with the following levels of immediate resistance: $0.00001417, $0.00001453, and $0.00001502, which indicate potential locations of increased selling pressure should prices try to climb.
On the other side, if the fall persists, the support levels of $0.00001204, $0.00001103, and $0.00000988 might be good places to purchase.
At 29.80, the Relative Strength Index (RSI) suggests oversold circumstances, which might indicate a possible reversal. If PEPE wants to reverse its bearish view, it has to break through the 50-day Exponential Moving Average (EMA), which is now at $0.00001471.
It is crucial to attentively observe these technical indicators, since the formation of a bearish engulfing candle indicates that the downturn could continue.
Lastly, as long as Pepe is trading below the $0.00001300 pivot point, market sentiment will be adverse.
