Pepe Price Prediction as $30 Million Trading Volume Sends PEPE Down 4.4% – Time to Buy the Dip?
The PEPE price has slipped by 2.5% in the past 24 hours, with the meme coin now also down by 10% in the past week, at $0.000000668902.
This level marks an 8% loss in the last 30 days and an 84% fall since the meme token reached a record high of $0.00000431 at the beginning of May.
Unfortunately, the medium- and long-term picture for PEPE since then has been largely negative, with the occasional pump-and-dump from whales doing little to halt the overarching decline the altcoin has suffered since storming the market in April and May.
And with PEPE have little in the way of fundamentals to support it, it's likely that the next rally will be succeeded only by further falls.
PEPE's indicators have taken interesting positions, with the coin arguably looking like it's ready for a much-needed bounce upwards.
After spending much of August and September at 30 or below, PEPE's relative strength index (purple) climbed up to 60 at the beginning of the month and has more recently dropped to 40.
Yet it's important to note that it has seemingly stabilized at this level, perhaps suggesting that its recent fall has bottomed and it's ready to pump again.
To some extent, this view is supported by the meme token's 30-day exponential moving average (yellow), which has been declining consistently since the end of July, with the coin's price well below it.
This means that PEPE is due a rebound (at least on a purely technical basis), with the coin's modestly rising support level (green) also suggesting that it has finished dropping for now.
While there have been no major whale purchases of PEPE in the past week, the end of September did witness some significant accumulations.
While the addresses concerned appear to have already sold the PEPE they bought
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