The Pepe Coin price has risen by 4% in the past 24 hours, reaching $0.000009495 as the cryptocurrency market as a whole slides by 1% today.
PEPE is now up by 4% in a week and by 29% in a month, with the popular meme coin also sitting on an impressive 1,350% gain in a year.
This makes PEPE the best-performing top-50 token of the past 12 months, with the coin currently benefitting from some big volumes.
It seems to be the in-demand meme token at the moment, and while the market has taken a hit in the past few days, PEPE is in a better position than most to ride the incoming recovery.
Pepe Coin Price Forecast: $1.5 Billion Volume Floods In — Are Whales Prepping for a Surge to $1?
PEPE’s chart has moved into a position where it looks like it could have a strong weekend, having suffered enough over the past couple of days.
Having declined more or less consistently since Monday, PEPE’s relative strength index (purple) has now risen above 50, a sign of growing momentum and buying pressure.
It also seems that the coin’s 30-period moving average (orange) is rising towards the 200-period average (blue), suggesting that we could see a bullish golden cross in a day or so.
If so, PEPE may break out from its current resistance level (red), with the coin’s current trading volume – at around $1.5 billion – signalling ongoing interest.
It continues to be a favorite among whales, with even large traders who’ve taken some profits from PEPE still holding onto significant quantities.
And the past few months have provided no signs that whales intend to forget about PEPE and move onto another meme coin anytime soon, with PEPE having one of the most recent all-time highs (set in late May) of any major token.
It’s should continue riding this momentum, with the next few weeks likely to be pivotal in deciding how far the Pepe Coin price rises.
Assuming that there’s no further escalation in the Middle East, and assuming that the Fed comes through with additional rate cuts, we’re likely to see the cryptocurrency market stage another recovery.
And what’s interesting is that we’ve seen an increase in active Pepe addresses since the end of last month, a sign that the coin’s market is heating up.
In such a context, the Pepe Coin price could reach $0.000015 by the end of November, and $0.000025 by the end of the year.
New Pepe Tokens Show Massive Potential
Pepe remains one of the biggest meme tokens in the market, but there are newer Pepe-themed coins coming up which look ready to do well in the next few weeks.
The most notable of these is layer-two project Pepe Unchained (PEPU), which has now raised over $18.6 million in its hugely popular presale.
And with that, Pepe Unchained reaches $18.5M raised.
— Pepe Unchained (@pepe_unchained) October 10, 2024
The community is STRONG. The tech is STRONG. And we're gaining new ground everyday.pic.twitter.com/kEzq8lVIge
Boasting over 44,000 followers on X, Pepe Unchained is already growing a big community as it prepares to launch a new layer-two network for Ethereum.
Its platform will provide virtually instant transactions and competitively low fees, with the aim of becoming a leading ecosystem for the issuing and trading of meme coins.
What’s also promising is that, thanks to its speed as an L2, it will offer double the staking rewards it would have as a layer-one meme coin running directly on Ethereum.
This will provide greater incentive to hold PEPU, which will already have plenty of utility as the token users will need to pay transaction fees.
It will have a max supply of 8 billion PEPU, with its protocol allocating 30% to staking and 20% to its presale.
Read More: Pepe Unchained Price Prediction
Investors can join PEPU’s sale at the coin’s official website, it’s now selling at $0.00996.
This will rise several more times before the sale ends, so latecomers should act quickly if they want to secure PEPU at the lowest possible price.
The post Pepe Coin Price Forecast: $1.5 Billion Volume Floods In — Are Whales Prepping for a Surge to $1? appeared first on Cryptonews.
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