Pepe Coin Price Prediction as 115% Three-Week Surge Signals Bullish Momentum – Time to Buy?
The Pepe Coin price has dropped by 1% in the past 24 hours, slipping to $0.00000128 as the cryptocurrency market as a whole enjoys a 2% increase today.
Despite this fall, PEPE is now up by 25% in a week and by close to 115% in the last month, with the meme token making a strong comeback as the market enters a more bullish phase.
And even though it has risen strongly in the past couple of weeks, it could still continue to rise as 2023 ends, with the coin remaining 69% down from its all-time high of $0.00000431.
PEPE’s indicators continue to signal further gains, even if they’ve been in an elevated position for several weeks now.
Its relative strength index (purple) remains close to 70, a sign of good momentum and buying pressure that’s likely to carry the coin higher.
Similarly, PEPE’s price has surged well beyond its 30-day average (yellow), often a sign of a breakout rally, which PEPE had been due for a while now.
Also positive is the coin’s support level (green), which has risen very decisively in the past couple of weeks, protecting PEPE from falling back down to older levels during dips.
Perhaps the most telling sign of all, however, is PEPE’s 24-hour trading volume, which has shot from under $20 million to around $400 million in a matter of weeks.
As with other coins, this indicates that whales are getting back into PEPE, with data showing that some larger traders have begun accumulating again.
A whale spent 617 $ETH($1.11M) in the past 2 days to buy 996B $PEPE.
This whale has also traded 2 tokens this year.
Lost 456 $ETH ($1.3M) on $ARB and made 269 $ETH ($423K) on $MKR.https://t.co/H1UddPZlGe pic.twitter.com/oZgDZYScSH
— Lookonchain (@lookonchain) November 3, 2023
Such accumulation implies that bigger traders are expecting
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