PEPE

The frog-themed meme coin PEPE has achieved a massive milestone, surpassing a $10 billion market cap for the first time. Following an 18% price surge in just 24 hours, the token briefly hit a new all-time high, cementing its spot as the 21st largest cryptocurrency, overtaking Litecoin.

PEPE’s Price Surge Fuels Market Cap Milestone

On December 7, PEPE’s market cap stood at $9.07 billion with a price of $0.000021. A sharp 18% rally pushed the price to $0.000027, before settling at its current level of $0.000025. This rally boosted PEPE’s market cap to an impressive $10.67 billion, a major milestone for the Ethereum-based meme coin.

The token now ranks 21st in market cap, overtaking Litecoin, which sits at $10 billion.

Increased Network Activity Drives Demand

PEPE’s surge can be linked to a noticeable rise in network activity. According to data from IntoTheBlock, active addresses, new addresses, and zero-balance addresses have all increased significantly.

• Active addresses: Unique wallets engaging in PEPE transactions.
• New addresses: First-time users engaging with the token.
• Zero-balance addresses: Wallets adding PEPE for the first time.

This spike in activity reflects growing user interest and bullish sentiment, which could push the token beyond its current price levels.

PEPE Price Prediction: What’s Next?

Technical indicators suggest more upward momentum could be on the horizon. On the daily chart, the Moving Average Convergence Divergence (MACD) has turned bullish.

The MACD measures momentum by comparing two exponential moving averages (EMA):

• When the 12 EMA crosses above the 26 EMA, it signals bullish momentum.
• Conversely, a bearish trend occurs when the 26 EMA crosses above the 12 EMA.

Currently, the 12 EMA has moved above the 26 EMA, suggesting the potential for PEPE to break resistance at $0.000025.

If this level is surpassed, analysts predict a rally toward $0.000030. However, if bears pull the price below $0.000025, PEPE could dip to $0.000015, lowering its market cap below $10 billion.

PEPE’s Future: Strong Momentum or Cooling Off?

PEPE has captured the market’s attention with its impressive performance. If demand continues to grow, the token could reclaim and surpass its all-time high. However, the market will need sustained buy-side pressure to maintain its bullish trajectory.

PEPE hit a new all-time high on November 13 after its Coinbase listing, marking a 105% surge in the past month. However, it has dropped nearly 10% over the last week. Key indicators, such as RSI and MVRV, suggest the coin may face further corrections as bullish momentum fades.

Is PEPE Oversold Yet?

PEPE’s Relative Strength Index (RSI) has dropped to 38.8, down from 60 in just three days.

• What RSI Tells Us:
  • RSI measures price momentum on a scale from 0 to 100.
  • Readings above 70 indicate overbought conditions, while below 30 signals oversold levels.

This decline reflects growing selling pressure. However, PEPE is not yet oversold, as the RSI remains above the 30-mark. Historically, PEPE’s RSI hasn’t dipped below 30 since November 3, which suggests the price might stabilize soon if trends hold.

Despite the drop, PEPE remains the third-largest meme coin, trailing only Dogecoin (DOGE) and Shiba Inu (SHIB).

If the RSI falls below 30, stronger bearish momentum could emerge, leading to deeper corrections.

MVRV Ratio Signals Room for Correction

PEPE’s 7-day Market Value to Realized Value (MVRV) ratio is at -6.2%.

• What MVRV Means:
  • MVRV shows the profit or loss of holders based on the current market value compared to their purchase price.
  • Negative levels suggest holders are less likely to sell at a loss, reducing selling pressure.

Historically, PEPE has rebounded strongly when its 7-day MVRV dipped below -9.7%. This indicates a further correction might occur before a bullish recovery.

If the MVRV trends lower, it could trigger accumulation and set the stage for a price rebound.

Price Prediction: Can PEPE Hit New Highs?

PEPE’s EMA lines indicate bearish momentum, with a potential death cross forming. A death cross occurs when short-term EMAs cross below long-term ones, signaling potential sell-offs.

• Key Support Levels:
  • Initial supports: $0.0000139 and $0.0000108.
  • Strong support: $0.0000077 if selling intensifies.
• Bullish Scenario:
  If sentiment improves, PEPE could challenge resistances at $0.0000228 and $0.000026. Breaking these levels might push the price to $0.000030, creating a new all-time high.

https://twitter.com/CryptoGodJohn/status/1861442758537285912

Conclusion

PEPE’s recent highs and market corrections showcase its volatility. While bearish signals dominate for now, historical trends hint at a potential recovery. Investors should monitor key levels to gauge PEPE’s next move.

Pepe (PEPE) is showing strong signs of a significant rally, with market experts suggesting gains could reach up to 300%. After a recent dip, PEPE started a sharp recovery on October 28, reigniting investor interest.

This surge in trading volume, coupled with whale activity, has positioned PEPE as a token to watch.

Increased Trading Volume Boosts Optimism

In the past 24 hours, PEPE’s trading volume has jumped by 14.13%, now totaling an impressive $791.15 million. This sudden boost has drawn new interest from buyers, suggesting that many are accumulating PEPE at lower prices with hopes of profiting as its value climbs.

$PEPE is getting Ready for Another Massive Bullish Rally so Don't miss the Ride..!!

Expecting +300% Bullish Rally in the Midterm..📈#Crypto #PEPE #PEPEUSDT pic.twitter.com/sHHqlTYLAN

— Captain Faibik 🐺 (@CryptoFaibik) October 31, 2024

Data also suggests that this influx could help “knock off a zero” from PEPE’s price, indicating that a major rally may be on the horizon. If trading enthusiasm stays high, PEPE could break past key resistance levels, sparking an exciting chapter for the token.

Whale Activity: Adding Fuel to PEPE’s Rally

Adding to PEPE’s momentum, recent whale activity has captured market attention. On October 28, a whale transferred over 1.2 trillion PEPE tokens, worth approximately $11.5 million. In the crypto space, whale moves like this often signify robust investor interest and hint at upcoming price swings.

🚨 1,279,959,528,068 #PEPE (11,510,036 USD) transferred from unknown wallet to #Binancehttps://t.co/qlK9P64wo4

— Whale Alert (@whale_alert) October 28, 2024

With Bitcoin’s recent positive performance spreading optimism across the market, PEPE could benefit from this bullish atmosphere. Whale activity also plays a significant role in market shifts, and for PEPE, this high-stakes transaction has brought renewed confidence to eager investors.

Will PEPE’s Momentum Lead to a 300% Rally?

As PEPE’s trading volume and whale activity continue to rise, the token appears well-positioned for a strong rally. If these trends hold, PEPE could fulfill the predicted 300% gain, offering substantial returns for those riding the wave. With market enthusiasm building, PEPE’s next big rally might be just around the corner.

Despite hints of market recovery, the meme coin PEPE has seen a dip in its price. According to CoinMarketCap, PEPE is now at $0.000009054, down 6.59% in the last 24 hours.

PEPE Metrics Show Signs of a Rebound

The recent dip is part of a broader trend; PEPE’s price has slid over 15% in the last week, outpacing other tokens in the market downturn. However, some PEPE metrics suggest this sell-off may be driven by short-term holders, with key indicators hinting at a potential rebound.

Trading volume is up 48%, hitting $773.18 million, signaling increased activity within the PEPE ecosystem. Additionally, large transactions have surged by 51.23%, with a cumulative value of $40.22 million, reflecting significant whale activity. This trend suggests that PEPE may soon shift direction as investors anticipate a possible floor.

Could PEPE Hit Its Price Floor?

The recent price drop may help PEPE reach a “price floor,” where it stabilizes before potential growth. Analysts suggest a price floor around $0.0000086, allowing for a consolidation phase. The token’s Relative Strength Index (RSI) currently reads 43, just below neutral, indicating that selling pressure may ease soon.

As selling momentum fades, PEPE bulls could seize the opportunity to accumulate, which could lift prices in the mid-term. The goal for PEPE now is to recover from recent losses and make a push to clear a zero from its price in the months ahead.