Is It Too Late to Buy PEPE? Pepe Price Spikes 40% as New Meme Coin Prepares to Launch
The PEPE price has jumped by 13% in the past 24 hours, with its run to $0.00000156 also marking a very impressive 40% gain in a week.
PEPE’s move comes as the market enjoys a Bitcoin-led rally, with the meme coin also up by 36% in the last 30 days and by 2,750% since its all-time low of $0.000000055142, recorded in April.
Growing bullishness surrounding potential Bitcoin ETF approvals has driven today’s surge, yet with PEPE already up by 40% in a week, it may be due a correction in the near future.
However, there are a number of other, newer meme tokens that appear set for rallies in the coming days, with Meme Kombat – which has raised $2.5 million in its presale – one of the most promising.
PEPE is actually down by 2% in the past hour, implying that last night’s rally may have already begun losing momentum.
That said, its indicators continue to look relatively bullish, with its RSI (purple) still at 70, even if it has dipped in the past few hours from 75.
Interestingly, PEPE’s 30-day average (yellow) has just crossed over its 200-day (blue), forming a ‘golden cross’ that often indicates a breakout rally.
As such, PEPE may be in for further gains once its current slip resolves itself, especially when its 24-hour trading volume remains high at just over $500 million.
Such a level suggests that whales continue to buy and accumulate the meme token, as attested by transfer data shared over the past month.
9/ What did whales buy last week?
0x8e74 withdrew 363,995 $AAVE($39M) from #Binance.https://t.co/aWxvrOdJSm
0x3737 bought 2.51M $ARB($2.83M) and 1.65T $PEPE($1.91M).https://t.co/P4AE99Dqms
0x94cf bought $ILV, $MKR, $ETH, #1INCH, $UNI, $ENS and $LQTY.https://t.co/mEkXIdSTkK
— Lookonchain (@lookonchain) November 13, 2023
The thing is,
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