Pepe Coin Price Prediction as PEPE Blasts Up 250% in 7 Days – Can PEPE Reach $1?

cryptonews.com:

The Pepe Coin price has dropped by 7% in the past 24 hours, although its level of $0.00000126 also represents a massive 250% gain in the past seven days.

This surge has enabled PEPE to enter the top 100 cryptocurrencies by market cap, with the new Pepe-themed meme token also rising by 525% in two weeks, having launched on April 16.

This makes it the best-performing cryptocurrency of the past few weeks by quite a wide margin, and it seems as though its rally hasn't quite run out of momentum yet.

However, with the coin offering no fundamental value beyond a 'funny' mascot and a small community of holders, there remains every chance that it could witness a big correction soon.

Despite the surge of the past couple of weeks, PEPE is actually down in the past hour, as indicated by the last, red candle in the chart below.

The meme token's relative strength index (purple) has also begun to slide downwards, having reached a very overbought level of 90 at the end of last month.

This would usually signal that a correction is coming, although its support level of $0.000001 held up well when the coin dipped yesterday, so any falls may not be that dramatic.

And with the rest of the market largely subdued because of fears surrounding another rate hike and also surrounding the collapse of First Republic, it's possible that traders are rallying behind PEPE at the moment because it's the only game in town.

Of course, the million-dollar question is whether PEPE can sustain its rally, given that there's nothing going for the token beyond its meme value.

Launched a couple of weekends ago, it's an ERC-20 token with a total maximum supply of 420 trillion (a reference to 4/20 cannabis culture).

It currently has just over 74,000 holders, up from 43,000 on