Pepe Price Prediction as $800 Million Trading Volume Comes In – Are Whales Buying Again?
Today, PEPE has experienced slight growth amid a broader market retracement, with signs of potential whale inflows.
The PEPE token has experienced a 0.39% increase over the past 24 hours, bringing its price up to $0.00001415, amidst a broader retracement in the crypto market.
In a pullback, PEPE has posted a weekly loss of 12.55%, in a reversal of its impressive monthly rise of 67.28%.
Over the past year, PEPE has yielded a remarkable return of 1,299.26%, outperforming major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and SOL.
This robust performance indicates strong and widespread investor interest in PEPE.
With the meme coin’s 24-hour trading volume surging to 1.52B in the past week, it seems that its short-term momentum could hint toward a rebound.
PEPE Bounces From Support Level – Are Whales Buying?
After dipping in the early hours of this morning, it seems that PEPE is ready to rebound again.
In particular, its relative strength index (purple) has fallen from 65 to 30 in the past 48 hours.
This suggests PEPE is oversold, indicating it might be undervalued and a price bounce could be forthcoming.
This may be the case if PEPE can successfully retest the 0.00001411 support level (Yellow). A decisive reversal upwards would suggest that the recent retrace was temporary and does not signal a complete shift in momentum – there is still confidence among investors.
Supporting this view is the coin’s trading volume, which currently sits at $800M, and 1.52B over the past 24 hours.
This hints towards some potential large hands flooding into the market.
However, if Pepe breaks decisively below this, it may mean that further downside is ahead.
The 200-day moving average (blue) is trending downward, with the 30-day moving average (yellow) following suit below it after a crossover last week. This suggests a continuation of the downtrend despite the short-term price increase.
If the 30-day moving average does not start trending upward, it could indicate that the short-term positive momentum is insufficient to influence a long-term trend toward the upside.
While PEPE is a meme token with no real fundamentals of its own, it often rides market-wide waves.
Therefore, Roaring Kitty’s recent $180 Million position in GameStock may serve as a potential catalyst for further raised meme coin activity.
GameStop stock surged on April 3rd in pre-market trading following the announcement, with meme coins seeing increased volume.
BREAKING: GAMESTOP SHARES HIT $43 UP 87% PRE MARKET IN THE FIRST 10 MINUTES $GME #GME #GAMESTOP pic.twitter.com/BtyBZHuvR1
— WhiteRabbit741 🏴☠️ (@madiguz7) June 3, 2024
Additionally, with the Looming decision to launch US Ethereum ETFs , ERC-20 tokens like PEPE may benefit off the back of increased inflows into the Ethereum ecosystem.
Low-Cap Meme Coin Offering Higher Gains Potential
Given that PEPE has already accumulated a 6.11B market cap, it is in question whether truly substantial gains are possible going forward.
For traders seeking faster and more substantial returns, exploring newer low-cap meme coins poised for explosive growth could be a strategic move.
Enter Sealana, the latest meme coin capturing the attention of meme fans, degens, and crypto enthusiasts, with some speculating it has 100x potential.
#Sealana ain’t slowing down anytime soon! 🔥With his companions he’s out here finishing what @realDonaldTrump started! 🦭💪
Send $SOL to clean out the swamp 🏞️ and make #Memecoins great again. 🚀💰
Once the swamp's clear, it's Lambos 🚗, Massive Gains 📈and Freedom all the way!!!… pic.twitter.com/vFMEaRZWKW— Sealana (@Sealana_Token) May 27, 2024
Sealana has already raised over $3 million, signaling strong interest from investors and whales.
Built on Solana, SEAL tokens can be purchased with SOL, ETH, or BNB at a presale price of $0.022 per token.
This is the last chance to buy at this fixed price before the coin launches on exchanges, and there is a very real chance prices won’t be this low again.
Sealana is at the forefront of a new wave of meme coins that are helping the Solana network challenge Ethereum’s dominance as the go-to blockchain for viral meme coins.
This comes off the back of wildly successful predecessors DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME), and Popcat ($POPCAT), all of which quickly rose to become top ten meme coins by market capitalization.
Given that Sealana lacks traditional driving fundamentals to influence its price, it is effectively establishing its presence through hype, community, and trend engagement.
Notably, Sealana is fittingly involving itself in current political narratives around crypto, a massive talking point among the crypto community currently with the upcoming US election.
For the latest developments in Sealana, follow their X account.
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.
