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Pepe Price Prediction as $30 Million Trading Volume Sends PEPE Down 4.4% – Time to Buy the Dip?

Simon Chandler
Last updated: | 3 min read
Source: TradingView

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 Price Prediction as $30 Million Trading Volume Sends PEPE Down 4.4% – Time to Buy the Dip?

PEPE’s indicators have taken interesting positions, with the coin arguably looking like it’s ready for a much-needed bounce upwards.

Source: TradingView

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.

<oembed url="https://twitter.com/lookonchain/status/1707568364573638790[/embed]

While the addresses concerned appear to have already sold the PEPE they bought in the transactions detailed above (e.g. here and here), these transactions nonetheless highlight how the meme token is still being used as a vehicle for profits by larger traders.

As such, we can expect PEPE to rally again in the near future, especially with its trading volume peaking above $30 million in the past few days.

The coin could be expected to rise as high as $0.00000080 in the near future, yet it’s always likely with PEPE that it will fall back down again soon enough, and perhaps to a lower level than today’s.

Alternative Meme Tokens

Because PEPE remains a risky option for retail traders (who can’t pump or control the market like whales can), many may prefer to look at alternative meme coins that show more promise for market-beating gains.

While it’s difficult to identify the most promising and least risky meme coins, one way of filtering out the best is to look at presale, which can indicate popularity in cases where a sale has raised significant sums.

This happens to be the case with Meme Kombat (MK), a new project that provides users with the chance to win rewards betting on the outcomes of AI-generated meme character battles.

<oembed url="https://twitter.com/Meme_Kombat/status/1711552175925833750[/embed]

Launched only a few weeks ago, its presale has already raised more than $425,000, providing a sign that investors are already being interested by Meme Kombat’s innovative new platform.

Meme Kombat will also have a social element, in that players will be able to bet against each other (as well as against the platform itself) on the results of the aforementioned meme battles.

Rewards will be paid out in the form of the native MK token, which is an ERC-20 cryptocurrency that can also be staked for the purposes of earning a passive income.

The token comes with a hard supply cap of 12 million MK, with 50% of this earmarked for the presale and another 30% going towards battle and staking rewards.

This will make the token appreciably decentralized, with investors able to join the presale by going to Meme Kombat’s official website, where 1 MK costs $1.667.

<oembed url="https://twitter.com/Meme_Kombat/status/1710415670838772154[/embed]

It will remain at this price for duration of the sale, yet it could easily rise strongly once it lists on exchanges towards the end of the year.

Visit Meme Kombat Now

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.