Cryptonews - Pepe-PEPE coin price has recently surged as whales (large investors) have started accumulating it again. The price of Pepe-PEPE coin recently rose by 2% to $0.000008195 amid a 4% decline in the crypto market cap. Despite dropping by 7% in a month, it has gained 12% in a week and has seen a staggering 1,100% increase in a year. Its slight price rise coincided with its trading volume exceeding $1 billion, as whales (large investors) have resumed buying and accumulating meme coins in recent weeks, indicating price gains to come, especially as the year-end approaches and market activity picks up.
Will we see a surge in the price of Baby coin reaching $1 after its trading volume reached $1.1 billion due to massive purchases during its price decline?
The recent surge in PEPE price confirms its bullish momentum following a modest performance earlier in the week, with the Relative Strength Index (RSI, purple) rising above 60 after dipping to 40 yesterday morning, indicating increased buying interest. PEPE chart – Source: TradingView Similarly, the 30-day moving average (orange) has started to rise above its 200-day moving average (blue), indicating that PEPE price is maintaining its good performance. PEPE trading volume doubled yesterday, along with the positive signals coming from the impending touch of resistance (red) and support (green) levels, suggesting that the price could start to move higher later in the week after a modest correction. Overall, PEPE accumulation has resumed over the past few weeks following a relative lull in August, suggesting that whales are expecting a rally soon.
4,000,000,000,000#PEPE(29,868,000 USD) transferred from#Bybitto unknown wallethttps://t.co/JZAMCxXyhy— Whale Alert (@whale_alert) September 10, 2024
As one of the best performing coins in 2024, the coin has enough momentum in the medium to long term to finish the year strong, and this will also depend on how much the general mood improves, especially since the Fed’s rate cut helped the market recover over the past week. On the other hand, PEPE seems to remain the meme coin of choice for whales for the foreseeable future, meaning it will continue to outperform its competitors in the top 100 coins. Therefore, its price could rise to $0.000010 by next week, before ending the year near $0.000015.
