Pepe's price recently dropped by 4.5%, falling from an all-time high of $0.00001526 to $0.00001365 in the last 24 hours. Despite this dip, the meme coin is still the best-performing top-100 token, up 37% in a week and 74% in a month. Over the past month, PEPE surged 820%, and this momentum might resume after the current decline. The recent approval of Ethereum ETFs could boost market optimism, potentially pushing PEPE to a new high.
Currently, PEPE is showing signs of losing momentum after a recent surge. The relative strength index (RSI) dropped from 70 to nearly 40, indicating a potential continued decline. Additionally, the coin's 30-day moving average is starting to fall below its 200-day average, suggesting a possible week-long retracement. However, trading volumes remain high at $2.4 billion, with significant interest from whales, which could lead to a price rebound.
The SEC's approval of eight Ethereum ETFs is a positive sign for the market and PEPE, an Ethereum-based coin. These ETFs could add demand and volume to Ethereum and the market overall, boosting bullish sentiment. With strong demand and market optimism, PEPE's price may rise to $0.0000150 in the next few weeks and potentially reach $0.000020 by Q4.
