Pepe Price Prediction as PEPE Nears Shiba Inu’s Market Cap – Can It Overtake SHIB and DOGE?
Pepe is up today as selling pressure eases amidst broader market growth, positioning it to challenge Shiba Inu and Dogecoin for the title of the largest meme coin by market cap.
The PEPE price has experienced a 9.43% increase over the past 24 hours, raising its price to $0.00001479, amidst a broader market growth.
Additionally, PEPE’s 24-hour volume has dipped 13.94% to $1.92B billion, suggesting eased selling pressure.
In a reversal from the last few days, PEPE has posted a weekly gain of 8.36%, extending its impressive monthly rise of 143.81%.
Over the past year, PEPE has yielded a remarkable return of 1,087.50%, outperforming major cryptocurrencies like BTC, ETH, and SOL.
After dipping over the past 48 hours, it seems that PEPE might be leading towards a rally.
Notably, its Relative Strength Index (Purple) has rebounded from 25 to 60 in the past 24 hours. This could indicate a shift in momentum towards the upside, as buying pressure overtakes selling pressure.
This prospect is supported by PEPE’s 24-hour volume, which has dipped 13.94% to $1.92B. This confirms that selling pressure has eased as PEPE sees fewer outflows.
However, PEPE is currently hindered by a negative trendline (yellow) that has acted as resistance over the past 48 hours. If the PEPE price can decisively break above this trendline, it may signal a shift from a downtrend to an uptrend.
Additionally, the meme coin’s 30-day moving average (orange) continues to trend below the 200-day moving average (blue) since their crossover. This suggests a possible continuation of the downtrend before a complete shift to the upside.
Therefore, this negative price action may be a temporary correction within a wider uptrend.
PEPE currently has a market capitalization of $6.21B,
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