Pepe Price Prediction as PEPE Soars 50% in 24 Hours – Are Whales Accumulating?

cryptonews.com:

PEPE has rocketed by 50% in the past 24 hours, with the Pepe price reaching $0.0000052168 as the crypto market continues to enjoy the fruits of Bitcoin ETF bullishness.

Thanks to this eye-watering jump, PEPE has now gained by 82% in a week and by 97% in the last 30 days, with the meme coin also up by more than 3,700% in relation to its lowest recorded price (set back in April 2023).

Yet with PEPE still down by 50% since its ATH of $0.000004307, it still has plenty of room left to continue rallying, particularly when some analysts are predicting that the market is only going to get more bullish over the coming months.

PEPE’s chart is red hot at the moment, and some traders may conclude it could correct in the next few days, given that it has entered ‘overbought’ territory.

For example, its relative strength index (purple) has shot up to 85 in the past day, with any number above 70 usually signalling over exuberance.

Having said that, PEPE’s 30-day moving average (yellow) has only just climbed over the 200-day average (blue).

This means that the coin has only just opened up a bullish phase, giving it more time to continue rallying before it runs out of steam.

Indeed, PEPE’s indicators had all been low prior to this week’s movements, so the coin is arguably still selling at a discount.

And it does look particularly strong at the moment, with its 24-hour trading volume touching $900 million today.

This is the highest it has been since May 2023, when it reached its current ATH.

It seems that whales may be driving its rally, with the coin’s Etherscan token tracker showing a number various large transactions in the past 24 hours.

This is a highly likely scenario playing out for $PEPE.

A big swing to ATH over the coming days, and a gentle