PEPE has been a hot topic in the crypto world, but its price can be unpredictable. Whether you own PEPE or are thinking about buying it, knowing where the price might go is important. In this article, we'll explain the factors that could affect PEPE's price and what might happen next. Let's take a look at this PEPE Price Prediction article in more detail.
How has the PEPE Price Moved Recently?
As of today, Pepe Coin is priced at $0.000007919, with a 24-hour trading volume of $565.91 million, a market cap of $3.33 billion, and a market dominance of 0.16%. Over the past 24 hours, PEPE's price has dropped by 3.64%.
Pepe Coin hit its all-time high of $0.00001717 on May 27, 2024, and its all-time low of $0.00000001057 on April 14, 2023. Since reaching its ATH, the lowest price PEPE has seen is $0.00005910, while the highest price since that cycle low was $0.00008972. Currently, the sentiment around PEPE is bearish, and the Fear & Greed Index indicates a level of 29, reflecting a sense of fear in the market.
Pepe Coin's circulating supply stands at 420.69 trillion PEPE, which is also its maximum supply.
Why Pepe (PEPE) Price is UP?
The recent uptick in PEPE's price can be attributed to several key factors despite its bearish technical indicators. Over the past three days, PEPE has defied its downward trend, achieving an impressive intraday gain of 8.85%.
This gain, even with the price still under the 200-day EMA, suggests a potential shift in market sentiment. One crucial factor contributing to this momentum is the increasing possibility of a bullish crossover between the MACD and signal lines, which typically signals a trend reversal.
Additionally, the broader crypto market's dynamics, particularly Bitcoin's influence, have played a significant role in PEPE's price rise. Recent data indicates substantial buying activity among Bitcoin whales, with over 30,000 BTC being accumulated in just a few days.
This accumulation has reduced Bitcoin's availability on centralized exchanges, creating stronger demand and lowering selling pressure. As Bitcoin often acts as a market leader, its rebound and the surge in buying activity likely had a ripple effect across the crypto ecosystem, boosting investor confidence and contributing to the recent rise in PEPE's price. If these trends continue, PEPE might see further upward momentum as market conditions improve.
PEPE Price Prediction: What Will Happen to PEPE Price?
PEPE has shown remarkable resilience and growth, with its price surging by an impressive 532% over the past year. This performance has outpaced 94% of the top 100 crypto assets, even outperforming major players like Bitcoin and Ethereum.
Trading above the 200-day simple moving average indicates that PEPE is in a long-term bullish trend, which could signal continued strength in the coming months. Additionally, its high liquidity relative to its market cap provides a stable foundation for future price movements.
However, despite these positive indicators, PEPE has seen only nine green days in the last 30 days, reflecting a challenging market environment. The coin is also currently down 54% from its all-time high, indicating that while there has been significant growth, volatility remains a key concern.
The recent 8.85% intraday gain and the potential for a bullish crossover in the MACD and signal lines suggest a possible upward shift in the short term, particularly if broader market conditions, such as Bitcoin's rebound, continue to improve.
Looking ahead, if the current technical and market factors align favorably, PEPE could see a recovery toward its previous highs. However, the limited number of green days and recent market pressures suggest that any upward movement may be gradual and subject to fluctuations.
