Last updated:
May 2, 2024 07:46 EDT
| 3 min read
The PEPE price has jumped by 14% in the past 24 hours, with the coin reaching $0.000007027 on a day when the crypto market recovers 2% from its recent downturn.
PEPE is now down by 4% in a week but up by 45% in the past fortnight, with the popular meme coin also sitting a healthy 500% gain in a year.
Yet because it remains 33% down from its all-time high of $0.00001064 (set two months ago), it still has plenty of space to rise further.
As such, the following days could see additional gains, particularly as the market returns to growth.
Pepe Price Prediction as PEPE Goes Up 14% – Is It Time To Buy?
PEPE’s chart and indicators are showing considerable momentum today, with the coin on course to make some gains in the near term.
Its 30-day average (orange) is not very far from climbing over its 200-day (blue), forming a ‘golden cross’ that would signal a more definitive breakout.
Source: TradingView
At the same time, PEPE’s relative strength index (purple) has been climbing towards 50 over the past couple of days, and it could continue towards 70 or higher as the coin’s price rises.
Another encouraging sign is the token’s volume, which remains high at $1 billion, with one whale transferring PEPE off Binance a few hours ago.
Whale 0x546 withdrew 331.3B $PEPE ($2.24M) from #Binance at $0.0₅675 an hour ago.
Notably, the whale shared the same Binance deposit address with Smart trader 0x1c6, who sold all $UNI before the price dropped on Apr 10, 2024, and realized an est. profit of $6.99M (+70.7%).… pic.twitter.com/s15dIii6rd
— Spot On Chain (@spotonchain) May 2, 2024
This indicates that ‘smart’ money is betting on PEEP making further gains in the near future, with the coin likely to be one of the main beneficiaries of ongoing market-wide recoveries.
As a meme token, it tends to rise harder when the market rises as a whole, with whales having used it as a vehicle for profits for several months.
As for when the wider market is likely to make sustained recoveries, the next few days should see it continue to compensate for the dive that kicked off the week.
In the longer term, the eventual easing of interest rates could also be a boost to prices, although we may have to wait until the final half or even quarter of the year for cuts.
Nonetheless, we can expect the PEPE price to reach $0.000010 by the middle or end of the summer.
Diversify with High-Potential Presale Tokens
One risk with PEPE in the very short term is that, having rallied strong today, it could easily lose steam in the next one or two days.
However, traders looking to get in before a big rally may do well to investigate one of the many new meme coins doing the rounds at the moment, with several of these looking very promising.
One of the strongest is Dogeverse (DOGEVERSE), a multi-chain meme coin that has raised just over $13 million in its exceedingly popular presale.
🚀 We Did It! $13 Million. 🤯
$DOGEVERSE the first #Doge #Presale spanning #Ethereum, #BNB Chain, #Polygon, #Solana, #Avalanche, and #Base…and it’s showing!
Cosmo is wagging his tail in appreciation, and so are we! 🌍🐕
The #Presale is still ongoing 💥 #MemeCoinSeason pic.twitter.com/GIUWSBCYcH
— DogeVerse (@The_DogeVerse) May 2, 2024
The first ever Doge-themed multichain cryptocurrency, DOGEVERSE will operate not only on Ethereum, but also on BNB Chain, Solana, Avalanche and Base.
This will give it plenty of utility, with its existence on multiple platforms meaning that it will be open to use on multiple apps and trading protocols.
Also bullish is the fact that it has a capped supply of 120 million tokens, which in conjunction with its staking system could result in a big reduction in its circulating supply.
All other things being equal, this could boost its price over the long-term, especially if it gains significant use.
🚨 Have you bought and claimed $DOGEVERSE on the #Solana chain yet?! 🤔🔥
You can now buy $DOGEVERSE on any of these 6 chains including #Ethereum, #BNB Chain, #Polygon, #Avalanche, #Base, and #Solana.
Find out more: https://t.co/A1puHpzM32#AltSeason #Cryptocurrencies $DOGE pic.twitter.com/0UDMPqDnBR
— DogeVerse (@The_DogeVerse) May 1, 2024
Such features arguably make DOGEVERSE a much more promising new token than most of the other meme coins launched in recent memory.
Interested investors can join its sale at the official Dogeverse website, where 1 DOGEVERSE currently costs $0.000305.
This price will continue to rise steadily as the presale progresses, yet it could rise in a big way once the token lists on exchanges.
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.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CryptoNews – https://cryptonews.com/news/pepe-price-prediction-as-pepe-goes-up-14-is-it-time-to-buy.htm
