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Pepe Price Prediction as PEPE Falls 30% Before Bouncing – Dip-Buying Opportunity?

Simon Chandler
Last updated: | 3 min read
Pepe Price Prediction as PEPE Falls 30% Before Bouncing – Dip-Buying Opportunity?

The PEPE price has risen by 1% in the past 24 hours, creeping to $0.000005576 on a day when the crypto market has rebounded by 4%.

This slight recovery doesn’t do enough to erase PEPE’s falls over the past week, with the meme coin down by 25% in a week and by 34% in the last 30 days.

Some may regard such declines as a negative, but they provide traders with the opportunity to buy the coin at a discount in relation to recent prices.

And with the market potentially on course to become more bullish this week, the PEPE price could rally again very soon.

Pepe Price Prediction as PEPE Falls 30% Before Bouncing – Dip-Buying Opportunity?

After hitting a bottom over the weekend, it looks as though PEPE is ready to bounce back up and continue rising for a while yet.

Its relative strength index (purple) dropped below 20 late on Friday and then again on Saturday, although it has zigzagged its way back up to 60 today.

PEPE price chart.
Source: TradingView

At the same time, its 30-day average (orange) had flattened out in the early hours of the morning, before beginning to move upwards again in the past few hours.

This suggests that the coin is beginning to regain momentum and attract buyers, who are perhaps attracted by its reduced price at the moment.

Its trading volume has also returned in the past day, rising to around $1 billion after spending much of last week at around (or below) $500 million.

This suggests that larger traders may have returned to the meme coin, although many of the notable whales who had accumulated PEPE in recent weeks and months offloaded their supplies quite recently, and haven’t begun buying again.

Regardless, PEPE remains a popular vehicle for quick gains and surges, so it’s likely that the coin will enjoy potentially disproportionate gains as and when the market becomes more bullish.

This could happen in the coming days, with Hong Kong’s Securities and Futures Commission approving several spot-based Bitcoin and Ethereum ETFs today.

This has provided the market with a shot in the arm, while the upcoming Bitcoin halving – happening on Saturday – could also raise anticipation this week.

More generally, rate cuts from the Federal Reserve could also provide a boost in the coming year, raising the appetite for speculative assets such as cryptocurrencies.

The PEPE price will likely rise in parallel, potentially reaching $0.000010 again in the next couple of months.

New Altcoins with Fundamentals

PEPE always has a chance of rallying big here and there, but some traders may find it a little volatile and unpredictable.

For this reason, they may prefer to look towards other alts that boast stronger fundamentals and more utility.

One of the newest and most promising examples of this comes from 5th Scape (5SCAPE), an upcoming decentralized VR gaming platform.

5th Scape opened its presale a few weeks ago, and has already raised in excess of $5 million.

Running on Ethereum, 5th Scape has impressed investors via its plans to develop a crypto-based VR gaming ecosystem.

It will launch in the next few weeks, with a diverse range of interesting games already lined up.

These include online fighter Cage Conquest, racing game Thrust Hunter, and the FIFA challenger Immersive Kickoff.

These will all be multiplayer games, with 5th Scape aiming to build a thriving community around them.

It will also release its own VR headset as part of its launch, as well as its own VR chair, which will increase immersion even further.

Native token 5SCAPE will be the payment token for the 5th Scape ecosystem and its games, with the coin having a max supply of 5.21 billion.

Its presale is aiming to raise $15 million, with 80% of its total supply going to the sale (10% is going to liquidity, while another 10% will go to development).

Investors can get in early by visiting the official 5th Scape website, where 1 5SCAPE token costs $0.00327.

This will rise to $0.0087 by the sale’s 12th and final round, although it could obviously rise much higher once the token lists on trading platforms in the near future.

Buy 5SCAPE 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.