Pepe Coin’s price has been seeing a rough ride these last few days as it has comfortably lost 2.5% in the last 24 hours which correlates with a decline in the overall cryptocurrency market today which stands at about 3.5%. Pepe Coin currently rests at $0.00001016.
Part of the reasons for the widespread growth and movement of these memes is because even in this past week, the PEPE coin continues to sit in an overall upward movement tracking 23% gains in the past month and an impressive 1350% gain in the entire year so far. This is despite the fact that the coin has seen a 4% decline within the week.
As it stands there have also been moves by whales to buy PEPE as some analysts have begun to speculate that it can reach a $25 billion valuation in the near future. In the perspective of the authors of the article, this is probably the best case scenario given the performance of PEPE this year.
If that is the case, we could witness Pepe Coin bouncing back reasonably quickly also with relative strength index status (purple) also heading toward the lower region.
Trading Volume is good at $1.2 billion, for a coin in a short term downward trend, Pepe looks good.
This suggests that the appetite for the token is good, with reports that some whales have been expanding their pepe collections recently.
This also involves one trader whop has bought over 33 billion PEPE over the last ten days bringing her total holding to around 298 billion PEPE.
Several analysts believe that Pepe Coins still remain valuable among whales that the token has the potential to surge higher in the next months coming.
According to Whale Insider, a popular Crypto Twitter account, Pepe is on the verge of exploding with bullish momentum with a pennant pattern featuring on its mid-term price chart.
Whale Insider believes that the market cap of Pepe will be 25 billion soon which means about an increase of close to 500% around 0.00006$.
Although that is an optimistic aim, at least considering the short- and medium-term possibilities; we might witness Pepe’s price surging sharply let’s say towards year-end.
For instance, if Donald Trump who is crypto-friendly wins the presidential elections on 5th November, then the entire market of the cryptocurrency could be in bullish phase.
This could see the price of Pepe Coin rise up to $0.000020 by the close of November.