The price of Pepe (PEPE) has fallen 4% in the past 24 hours to $0.000007143. This decline aligns with the broader cryptocurrency market’s 2.5% drop today. Over the past week, PEPE has decreased by 0.5%, and it has dropped 12.5% in the last 30 days. Despite this, the token has seen a remarkable 920% increase over the past year.
Although PEPE’s price has fallen recently, its 24-hour trading volume remains strong at $1 billion. This volume significantly surpasses that of Shiba Inu (SHIB) and Dogecoin (DOGE), which have volumes of $210 million and $500 million, respectively. PEPE’s high trading volume highlights its ongoing popularity among major meme coins. The token is well-positioned to benefit when the market recovers.
Indicators Suggest a Potential PEPE Rebound
Despite today’s drop, PEPE’s indicators suggest a potential rebound. The relative strength index (RSI) nearly reached 30 this morning, signaling a possible turnaround. Additionally, the 30-period moving average is about to cross below the 200-period average. This crossover could indicate a recovery in the next few days.
PEPE’s trading volume remains high at $1 billion, which underscores its strong market position. According to Lookonchain, PEPE ranks third in liquidity among meme coins. This liquidity is notably higher than DOGE and SHIB, emphasizing PEPE’s strong appeal to both retail traders and large investors.
Comparing PEPE to Other Meme Coins
PEPE has experienced multiple rallies in the past year, achieving its all-time high (ATH) of $0.00001717 on May 27, 2024. This peak occurred more recently than Bitcoin’s ATH in March and far more recently than SHIB and DOGE, which reached their highs in 2021.
Given its recent momentum, PEPE appears to have a better chance of delivering strong returns compared to other meme coins. Although September is traditionally a tough month for cryptocurrencies, analysts expect PEPE to rebound in October. Anticipated Federal Reserve rate cuts could further support this rebound.
In the short term, PEPE’s price target is $0.000010, with the potential to reach $0.000015 by year-end.
Exploring New Opportunities with Pepe Unchained
While PEPE shows promise, traders might also explore newer meme coins. One such coin is Pepe Unchained (PEPU), which has raised over $12.8 million in its presale.
Pepe Unchained is building a layer-two network on Ethereum. This network aims to offer faster transactions and lower fees. Its scalability could help it capture market share from existing layer-two networks. Moreover, PEPU offers double the staking rewards compared to layer-one coins, making it attractive for long-term holders.
The total supply of PEPU is 8 billion, with 30% allocated for staking and 20% for the ongoing presale. The coin’s popularity is growing, as indicated by its X account surpassing 13,000 followers.
Final Thoughts
The PEPU presale continues, offering early investors the chance to buy the coin at $0.0096126. With scheduled price increases before its official listing, early buyers could see substantial returns.
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