PEPE Price Targeting A New ATH In May 2024; What's Happening?

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PEPE Hits All-Time High; Is $0.0001 the Next Target? – Crypto News

Published

11 months ago

May 15, 2024

Dripp

Pepe price prediction: Pepe, a cryptocurrency inspired by a popular frog meme, has surged 5% in the past 24 hours. This increase reflects growing interest in meme-based digital currencies. Pepe has surpassed the $0.000011 resistance level, signaling a bullish market trend.

The Pepe price is currently trading at $0.00001126 after reaching an all-time high of $0.00001156 today. This milestone suggests strong market momentum and heightened investor confidence in meme cryptocurrencies.

Pepe Price Prediction: Anticipating Bullish Momentum

The market capitalization for the meme-coin Pepe has reached $4.75 billion. In the last 24 hours, trading volume surged to $3.55 billion. This indicates a growth of over 2%, even as the broader market experiences fluctuations. According to CoinMarketCap, Pepe now ranks 23rd in the crypto market.

Pepe Price Prediction

Pepe bulls are showing remarkable strength as the price hits a new all-time high. This bullish momentum is anticipated to continue for several days, driven by heightened trading activity. Pepe has become one of the most popular meme coins. The recent price rally began in the last few days of this week, resulting in a 43% upswing.

Pepe Whale Profits Highlight Market Potential

Pepe coin’s recent surge has spotlighted a whale making substantial profits. The whale, identified as address 0xe7d0, accumulated $13.9 million in three months. Between December 2023 and February 2024, this whale invested $1.56 million USDT to acquire 1.40 trillion PEPE.

Recently, they sold 140.4 billion PEPE for 1.75 million DAI, covering their initial investment when the coin hit an all-time high today, 15 May 2024. The address now retains 1.26 trillion PEPE, currently valued at $13.9 million, which represents pure profit.

Pepe coin appears poised for upward momentum. If it surpasses the $0.000012 resistance level, it may begin a bullish trend towards $0.000013. If the bulls mount more pressure, PEPE could hit $0.0001. This would be a significant milestone, marking Pepe’s entry into the three-zero price range.

However, if bears regain control, Pepe could decline to support levels at $0.000011 or even lower to $0.00001, leading to a bearish trend. These movements highlight the potential volatility and opportunities in Pepe’s market trajectory.

The daily technical indicators for the PEPE show significant activity in recent trading sessions. The Relative Strength Index (RSI) is currently at 76.78, suggesting that the asset may be entering overbought territory, which could signal a potential price correction in the near future.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicates a bullish trend as the MACD line is above the signal line, reflecting growing positive momentum.

Pepe Price Prediction: PEPE Hits All-Time High; Is $0.0001 the Next Target? — Pepe Price Prediction| Source: Tradingview

The Chaikin Money Flow (CMF) indicator shows a positive reading of 0.08, indicating that there is buying pressure in the market. The Awesome Oscillator (AO), also shown at the bottom of the chart, has a positive value of 0.000002476. The AO histogram is green and rising, indicating that the short-term momentum is stronger than the long-term momentum.