PEPE Price Forecast: PEPE down 12% from recent peak Is it time to buy the dip?
Pepe (PEPE) prices have been sliding since setting new highs at the start of the week. Traders are wondering if now is the time to buy the dip, as PEPE is down 12% from its peak.
Earlier this week, Pepe surged to new highs over $0.000011, fueled by the sudden return of GameStop legend Roaring Kitty.
The legendary retail investor is a leading figure in the 2021 meme stock craze.
He returned to the X platform on Monday for the first time since 2021, injecting momentum into meme stocks and meme coins.
But Pepe price has since fallen back to just over $0.00010.
Chart analysis shows that now may not be the time to buy PEPE’s latest pullback. Here's why.
Pepe Price Forecast – Is it time to buy the dip?
Despite the recent pullback, Pepe bulls still have control over the market.
The meme coin continues to trade above its major short-term moving averages, which have acted as support.
Pepe also broke out of an ascending triangle structure earlier this week.
Traders looking to go long may want to wait for Pepe price to retest the upper boundary of this ascending triangle before placing any bets.
In fact, $0.00000920 is likely to provide very strong support for the price.
Pepe price is expected to rebound strongly from this key support level. Source: TradingView
Pepe’s market capitalization is only around $4.3 billion, which shows that the meme coin has a lot of room to rise in this bull market as it continues to grow in popularity.
Pepe supporters hope the memecoin will one day rival Dogecoin (DOGE) and Shiba Inucoin (SHIB).
The market caps of these top meme coins are $21.9 billion and $14.6 billion respectively.
Dogecoin’s official Twitter has 3.9 million followers, and Shiba Inu has 3.8 million followers.
In comparison, Pepe has 650,000 followers, so there is still some distance left in terms of popularity.
Crypto Alternatives to Consider – Mega Dice (DICE)
Pepe has a lot of upside potential, but few expect it to grow 10x or more.
Investors hoping to achieve greater profits in the 20-50x range should consider the often-overlooked pre-sale investment strategy.
Startup Web3 projects often sell their tokens to early investors at a discount.
If pre-sale investors can find projects with huge potential, they can make huge profits.
One pre-sale project that Cryptonews analysts are very fond of is the new GambleFi ICO Mega Dice Casino.
Mega Dice is a crypto casino that recently launched a pre-sale of its utility token DICE.
The casino already has over 10,000 active monthly players and over $50 million in monthly bets, ensuring strong demand for DICE.
In fact, pre-sale success has shown strong demand, recently surpassing $1 million.
At a price of $0.075 per token, DICE has a market capitalization of $30 million. This is relatively low considering the real-world adoption the Mega Dice platform has already achieved.
Mega Dice is already the market leader in the GambleFi space. As the industry grows, its tokens could one day be worth billions of dollars. DICE could easily be a 50-100x token.
Check out Mega Dice Casino’s pre-sale: https://cn.cryptonews.com/ext/mega-dice-cn/
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