Pepe Price Prediction: PEPE Plummets 29% – Is It Time to Buy the Dip?
The Pepe price has dropped by 4.5% in the past 24 hours, with its fall to $0.00001218 representing a big 29% loss since the meme token reached a new ATH on May 27.
PEPE is also 15% down in a week, although it holds onto a 6% gain in a month and a very healthy 1,200% increase in the past year.
Its recent falls therefore come in a context of medium- and long-term growth, meaning that today’s fall provides an opportunity to buy the token at a discount.
It’s likely to rebound again very soon, with the coin remaining one of the most popular meme tokens in the market, particularly among whales.
PEPE Price Plummets 29% – Is It Time to Buy the Dip?
What PEPE’s chart tells us is that the coin has bottomed out in the past 24 hours and looks ready to recover again soon.
Indeed, the Pepe price has actually gained by nearly 1% in the past hour, with the coin’s relative strength index (purple) showing renewed momentum after hitting 30 last night.
Also turning a corner is the coin’s 30-day moving average (orange), which after falling a long way below the 200-day (blue) is beginning to flatten out, as if preparing for a rebound.
It’s also significant that PEPE’s resistance (red) and support (green) levels are slowly converging on each other, implying that the meme token is preparing for a big move.
And because PEPE has spent the time since its ATH largely declining, it’s arguably ready for a new period of growth.
A whale deposited 365.96B $PEPE($5.3M) into #Binance for profit just now!
He withdrew 365.96B $PEPE($494K at the time) from #MEXC on Dec 13 and Dec 16, 2023.
He turned $494K into $5.3M in less than 6 months, with a profit of $4.82M and an ROI of 976%!https://t.co/HXCrl0QBxm pic.twitter.com/jeFRd6NyWK
— Lookonchain (@lookonchain) June 4, 2024
Yet at the moment it seems that no whales are currently buying the token, with the last big action involving transfers to exchanges.
Its volume also remains relatively low, at $800 million today compared to $1.8 billion around the time it set its current ATH.
Still, there’s little doubt that PEPE remains a popular coin among traders, with some analysts predicting that the coin will break its record once the market enters another growth spurt.
This could happen sooner rather than later, with the upcoming launch of recently approved Ethereum ETFs likely to boost demand and bullishness across the board.
We may also see some modest rate cuts in the US and elsewhere, following similar cuts from the ECB, Canada, Switzerland and Sweden.
Summary of Fed Chair Powell today:
1) He opened the door to a September rate cut (He said 1 or 2 are "plausible" in 2024)
2) Economy remains strong. "We're getting good results here"
3) Fed needs more good data on inflation
3) He thinks labor market is back to 2019 conditions pic.twitter.com/y0fGgfZzzB— Heather Long (@byHeatherLong) June 12, 2024
Again, this will boost demand, with the PEPE price likely to reach $0.000020 by Q4 of this year.
Newer Meme Coins Bringing Large Gains
PEPE will almost certainly see renewed rallies in the near future, yet traders may be interested to hear that it isn’t the only high-potential meme coin in the market at the moment.
In fact, there are several very promising tokens at the beginning of their lifecycles, holding their presales and raising impressive sums as they get ready to launch.
One of the best is WienerAI (WAI), an Ethereum-based cryptocurrency that has raised in excess of $5.5 million in its sale.
We are forming an unstoppable Army of Sausages!! 🌭🌭🌭
An incredible $5.5M raised in mere days and no sign of slowing down 😮💨 pic.twitter.com/q2R7xqLE02
— WienerAI (@WienerDogAI) June 12, 2024
This figure makes WienerAI one of the biggest sales of the year, and the reason why investors are quickly flocking to the token is that it has some very strong fundamentals.
It will launch a generative AI-based chatbot that will be able to answer trading-related queries, helping investors identify promising (or losing) coins and time moves.
It will also have a useful atomic swap feature, meaning that users can trade directly through the WienerAI app, saving them time.
On top of this, it provides front-running and MEV protection, enabling users to trade ahead of anyone trying to profit from arbitrage opportunities.
As a token, WAI will have a hard cap of 69 billion tokens, making it deflationary in the long run.
Holders will also be able to stake WAI for a steady passive income, something which will heighten demand for the coin.
Investors can join its sale at the official WienerAI website, with WAI available at a price of $0.000718 per token.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
