Pepe Price Prediction: PEPE Plummets 29% – Is It Time to Buy the

Simon Chandler

Last updated:

June 14, 2024 at 16:09 GMT+3

| 3 min read

The Pepe price has dropped by 4.5% in the past 24 hours, with its fall to $0.00001218 representing a big 29% loss since the meme token reached a new ATH on May 27.

PEPE is also 15% down in a week, although it holds onto a 6% gain in a month and a very healthy 1,200% increase in the past year.

Its recent falls therefore come in a context of medium- and long-term growth, meaning that today’s fall provides an opportunity to buy the token at a discount.

It’s likely to rebound again very soon, with the coin remaining one of the most popular meme tokens in the market, particularly among whales.

PEPE Price Plummets 29% – Is It Time to Buy the Dip?.

What PEPE’s chart tells us is that the coin has bottomed out in the past 24 hours and looks ready to recover again soon.

Indeed, the Pepe price has actually gained by nearly 1% in the past hour, with the coin’s relative strength index (purple) showing renewed momentum after hitting 30 last night.

Also turning a corner is the coin’s 30-day moving average (orange), which after falling a long way below the 200-day (blue) is beginning to flatten out, as if preparing for a rebound.

It’s also significant that PEPE’s resistance (red) and support (green) levels are slowly converging on each other, implying that the meme token is preparing for a big move.

And because PEPE has spent the time since its ATH largely declining, it’s arguably ready for a new period of growth.

Yet at the moment it seems that no whales are currently buying the token, with the last big action involving transfers to exchanges.

Its volume also remains relatively low, at $800 million today compared to $1.8 billion around the time it set its current ATH.

Still, there’s little doubt that PEPE remains a popular coin among traders, with some analysts predicting that the coin will break its record once the market enters another growth spurt.

This could happen sooner rather than later, with the upcoming launch of recently approved Ethereum ETFs likely to boost demand and bullishness across the board.

We may also see some modest rate cuts in the US and elsewhere, following similar cuts from the ECB, Canada, Switzerland and Sweden.

Again, this will boost demand, with the PEPE price likely to reach $0.000020 by Q4 of this year.

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