Pepe (PEPE) Price Prediction 2024-2025: Can the Frog-Themed Memecoin Reclaim Its Glory?

Pepe [PEPE] has performed quite well so far in November, but it has underperformed compared to Dogecoin [DOGE]. However, this could signal that there might be better days ahead for the frog-themed memecoin.

Despite Pepe [PEPE] registering gains so far in November, it has lagged behind Dogecoin [DOGE]. However, several indicators suggest that the frog-themed memecoin may be poised for a strong bullish trend.

As one of the top-performing memecoins of 2024, PEPE’s performance in the second half of the year has been lackluster.

For instance, PEPE failed to push into new 2024 highs, unlike DOGE, which has seemed to be defying gravity. While DOGE pulled off a 206% rally from its November lows to its recent high, PEPE rallied by 92%.

However, the memecoin could be set to benefit from the liquidity rotation.

With the top coins in their categories enjoying robust gains, Dogecoin performed well in November, as did Bitcoin [BTC].

But this liquidity rotation may commence soon, paving the way for the likes of PEPE to enjoy heavy liquidity inflows.

PEPE may already be experiencing more upside and a potential new high before the end of 2024. The memecoin’s Open Interest soared to $214.89 million in the last 24 hours, which marked its highest historic levels.

This surge occurred as PEPE’s price rallied by 4.2% to reach $0.000826 at the time of writing. However, the memecoin did not register any major price movements over the past week.

But what about demand in the spot segment? IntoTheBlock’s transaction data revealed that PEPE had just over 12,100 transactions in the last 24 hours.

The memecoin’s transaction count has been on the rise this month and was at a 3-month high at the time of writing.

However, the correlation with the price suggested that the surge in transaction count was mostly buying pressure rather than sell pressure.

This observation also confirmed that the memecoin has been gaining more appeal in the market this month, an outcome that could potentially lead to a strong bullish outcome.

On-chain data also revealed that whale activity was on the rise since the start of November.

This was evident by the surge in large holder inflows from as low as 1.81 trillion PEPE on the 2nd of November to 16.33 trillion PEPE at press time.

However, large holders also appeared to be holding PEPE back from more gains.

Large holder outflows also registered significant outflows, from 1.6 trillion tokens on the 1st of November to 15.46 trillion tokens as of the 12th of November.

The balance between large holder inflows and outflows was still in favor of the bulls as at the time of writing, However, this could change soon, depending on the prevailing market sentiment.