PEPE Price Prediction as $100 Million Trading Volume Floods In – Are Meme Coins Back?
The PEPE price has surged by 5% in the past 24 hours, with the meme token's move to $0.00000142 also representing a 23% gain in a week.
This means PEPE has easily outperformed the wider cryptocurrency market, which has barely moved today amid ongoing investor uncertainty (particularly in the face of the SEC's ongoing legal crusades).
And the meme token's rally today has happened as its 24-hour trading volume peaks above $100 million, which has been helped in part by a big purchase of the coin by a whale.
As such, PEPE could see further rises in the very near future before it peaks.
There's no mistaking the fact that PEPE is currently enjoying some strong momentum at the moment, with its relative strength index (purple) hitting 70 this morning and staying there, at least for now.
Perhaps more encouragingly, PEPE's 30-day moving average (yellow) is rising sharply towards its 200-day average (blue), with a 'golden cross' likely to be imminent, something which would indicate a breakout.
It's also promising to observe that the meme token's support level (green) has risen steadily over the medium term, providing PEPE with a higher base from which to launch new rallies.
This all means that PEPE could easily see further gains in the next few days, particularly when the rest of the market is struggling to move and when traders are therefore looking for alternative sources of profit.
It's possible that PEPE could hit $0.00000160 in the next few days or weeks, given that its indicators suggest it has more space to rise before becoming overbought.
Of course, PEPE is a pure meme token, so it could just easily fall in the next few days, yet whales continue to buy the coin, suggesting that it still has some rising left to do before another
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