Pepe Price Prediction as Meme Coins Crash – Is The Bull Market Over?

Arslan Butt

Last updated:

March 19, 2024 11:28 EDT

| 3 min read

Pepe Coin, a notable meme coin, has experienced significant volatility recently. In the last month, it surged by an impressive approx. 400%, delighting investors. Over the past three months, it has risen even further, by 385%, indicating sustained confidence in the market.

Despite achieving 17 green days in the last 30, Pepe Coin recently faced a downturn, declining by over 15% in the past 24 hours.

This recent decline can be linked to broader market trends, significantly affected by the ongoing Federal Reserve meeting and a concurrent downturn in the Indian stock market.

As the market contends with uncertainty, Pepe Coin, alongside other altcoins, is challenged with navigating fluctuating sentiments and selling pressures.

How the Federal Reserve Meeting Affects Pepe Coin Prices.

The Federal Reserve’s upcoming meeting has the crypto market on edge, particularly affecting Pepe Coin. Set for March 20, the Federal Open Market Committee (FOMC) will discuss key monetary policies.

Despite no expected changes to interest rates, the uncertainty is causing investor anxiety, leading to a sell-off in cryptocurrencies, including Pepe Coin. Here’s why:

Date of Meeting: March 20.

Main Focus: Interest rates and monetary policy.

Market Reaction: Increased selling of cryptocurrencies like Pepe Coin due to uncertainty.

Investors are closely monitoring this event, knowing it could significantly impact market sentiment and investment decisions.

The anticipation has introduced volatility, with Pepe Coin experiencing declines amidst broader market fluctuations.

Pepe Price Prediction.

The technical outlook for Pepe Coin’s pivot point stands at $0.0000065 with resistance levels at around $0.0000068, $0.0000073, and $0.0000078, each representing potential hurdles in the asset’s path upward.

Conversely, support levels at $0.0000059, $0.0000054, and $0.0000050 offer floors that may prevent further declines.

A closer examination of technical indicators reveals a Relative Strength Index (RSI) of 34, indicating that Pepe Coin might be approaching oversold territory.

This suggests that while selling pressure has been dominant, a reversal could be on the horizon if buying interest increases.

The 50-Day Exponential Moving Average (EMA)...

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