🐸📉 Will PEPE rise again after the recent fall? 📈🐸
After reaching an all-time high of $0.00001526 yesterday, Pepe has lost 4.5%, falling to $0.00001365 in the last 24 hours.
PEPE's performance
PEPE has risen 820% over the past month, demonstrating strong long-term momentum that could resume after today's drop.
Analysis of the current market
PEPE appears to be losing momentum after an aggressive rally earlier this week, with indicators pointing to a pullback. The Relative Strength Index (RSI) fell from 70 this morning to nearly 40 at the time of writing, suggesting a possible continued decline into the next day. Furthermore, the coin's 30-day moving average has begun to fall below its 200-day average. 📉🔍
Possible setback
PEPE may experience a one-week pullback after reaching several new highs recently. However, trading volumes remain near all-time highs of $2.4 billion, and whales have continued to purchase the token over the past 24 hours. This strong demand and interest could cause a rally in prices, allowing PEPE to once again surpass its previous high. 💸📈
Impact of Ethereum ETFs
Yesterday's SEC approval of eight Ethereum ETFs bodes well for the meme token and the market in general. These ETFs could begin trading next month, adding demand and volume to Ethereum and the market. This is likely to boost overall bullish sentiment, particularly for PEPE, an Ethereum-based coin that whales have been accumulating for over a year. 🌟📈
Price prediction
Given the strong demand and market optimism, the price of PEPE may rise to $0.0000150 in the coming weeks and potentially reach $0.000020 in the fourth quarter. 🤑🚀
#pepe⚡ #altcoins. #BinanceLaunchpool
