Pepe (PEPE) saw a 2% increase to $0.000008195, while the overall cryptocurrency market fell 4% over the past day.
PEPE is up 12% this week, but down 7% for the month. However, it is still up 1,100% compared to last year.
This recent surge is happening as trading volume approaches $1 billion, with large investors (whales) buying more meme tokens recently. This could lead to further price gains, especially as we approach the end of the year when the market typically recovers.
The currency’s big move today has renewed interest after a slower week. The relative strength index (RSI) jumped above 60 from 40 earlier today, signaling strong buyer activity. Volume is picking up, and resistance and support levels are approaching, which is a positive sign.
After a slight pullback today, PEPE price could break out later this week. After a quiet August, PEPE has been trending upwards, and it seems that whales are expecting the token to surge again soon. As one of the best-performing coins in 2024, it has the momentum to end the year strong.
The overall market outlook has improved, especially with the recent Federal Reserve rate cut. PEPE may continue to be a favorite among whales, likely outperforming other major meme coins.
Based on the current trends, PEPE may reach $0.000010 in the next week and may reach $0.000015 by the end of the year.
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