Pepe Price Prediction as PEPE Falls 30% Before Bouncing – Dip-Buying

Simon Chandler

Last updated:

April 15, 2024 06:26 EDT

| 3 min read

The PEPE price has risen by 1% in the past 24 hours, creeping to $0.000005576 on a day when the crypto market has rebounded by 4%.

This slight recovery doesn’t do enough to erase PEPE’s falls over the past week, with the meme coin down by 25% in a week and by 34% in the last 30 days.

Some may regard such declines as a negative, but they provide traders with the opportunity to buy the coin at a discount in relation to recent prices.

And with the market potentially on course to become more bullish this week, the PEPE price could rally again very soon.

Pepe Price Prediction as PEPE Falls 30% Before Bouncing – Dip-Buying Opportunity?.

After hitting a bottom over the weekend, it looks as though PEPE is ready to bounce back up and continue rising for a while yet.

Its relative strength index (purple) dropped below 20 late on Friday and then again on Saturday, although it has zigzagged its way back up to 60 today.

At the same time, its 30-day average (orange) had flattened out in the early hours of the morning, before beginning to move upwards again in the past few hours.

This suggests that the coin is beginning to regain momentum and attract buyers, who are perhaps attracted by its reduced price at the moment.

Its trading volume has also returned in the past day, rising to around $1 billion after spending much of last week at around (or below) $500 million.

This suggests that larger traders may have returned to the meme coin, although many of the notable whales who had accumulated PEPE in recent weeks and months offloaded their supplies quite recently, and haven’t begun buying again.

Regardless, PEPE remains a popular vehicle for quick gains and surges, so it’s likely that the coin will enjoy potentially disproportionate gains as and when the market becomes more bullish.

This could happen in the coming days, with Hong Kong’s Securities and Futures Commission approving several spot-based Bitcoin and Ethereum ETFs today.

This has provided the market with a shot in the arm, while the upcoming Bitcoin halving – happening on Saturday – could also raise anticipation this week.

More generally, rate cuts from the Federal Reserve could also provide a boost in the coming year, raising the appetite for...

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