Will You Be a Good Investor Today If the Price of Pepe Falls 5% in the Next 24 Hours?
In the last 24 hours, the cryptocurrency market has lost 3%, while the PEPE price has fallen 5% to $0.056866.
In spite of this decline, PEPE is still up 7% for the week and 22.5% over the previous 14 days, even if the meme currency has down 14% in the past month.
Even then, one might argue that the only thing these losses do is provide traders a chance to purchase the token at a relative bargain; PEPE is still riding high after a remarkable 2,000% rise in a year.
This indicates that PEPE has a lot of medium- and long-term momentum, which might lead to additional rallies for the token soon.
Is It Time to Invest in Pepe Now That Its Price Has Dropped to 9.7 Percent?
While PEPE's chart and indicators aren't looking great right now, that should change shortly.
The currency is now in an oversold position, from which it often recovers, as its relative strength index (purple) fell to 30 this morning.
Simultaneously, the 30-day average (orange) of PEPE is trending downwards, and it is almost touching the 200-day average (blue).
If it falls below, PEPE will be selling at a steep discount, which might attract investors who would likely send the price soaring again.
The fact that the meme token's 24-hour trading volume is still quite high is reassuring. At $600 million, it's up more than 750% in the last three months.
Accordingly, we may be seeing the start of a market turnaround soon, and the Federal Reserve may announce several interest rate decreases this year.
Under these conditions, PEPE may hit $0.000010 in the summer and $0.000020 in the fourth quarter.
