PEPE Coin Set For Big Moves As 12% Increase Triggers Speculation

The remarkable surge of Pepe coins in 2023 captured widespread interest. But, like many meme coins, PEPE's thriving period has ended, resulting in a decline.

However, a possible change in the asset's performance is far-fetched as the Frog-themed coin recorded notable losses in the last 24 hours.

Pepe Coin traded at $0.000001175 with an over 3% 24-hour price decline amid a market-wide downturn. Pepe's trajectory today further depresses hope amongst investors who earnestly anticipate a rebound for the meme asset.

Recent Price Moves

PEPE witnessed a decline of 3% in the last 24 hours, with a nearly 5% seven-day price drop. Unfortunately, PEPE still holds an over 24% 30-day drop in its value.

Alongside PEPE's price changes, there was a remarkable increase in its trading activity. Data shows a considerable decline in trading volume over the last 24 hours.

PEPE now boasts a 24-hour trading volume of over $146 million, with a 19% decline.

PEPE Coin Price Outlook

The chart above demonstrates a bearish momentum in PEPE's market today as the bears have formed three bearish candlesticks while pushing the meme token below the 50-day SMA.

Pepe Coin is trading below the 50-day moving average, a short-term bearish market position. Moreover, the Relative Strength Index is at 39, moving towards the oversold area, a sign of dwindling buying strength as more traders dispose of their PEPE holdings.

Also, the MACD sits below the signal line, with fading histogram bars indicating a gradual shift in market sentiment toward an imminent downturn. The next few hours are critical for PEPE, as more sell pressure could drive the asset to the oversold area, triggering a panic selloff among investors.

Traders may interpret this as a potentially bearish signal, indicating that PEPE might continue to decline in the next few hours.

Expert's Forecast On Future Prices

With PEPE showing signs of recovering following a period of stagnation in recent weeks and months, crypto analyst Ali points out key factors to monitor.

$PEPE looks ready to pump!

The TD Sequential presented a buy signal on the daily chart, with the first target at $0.00000138. A sustained close above this level could propel #PEPE to $0.00000159.

Keep an eye on invalidation at $0.00000113! pic.twitter.com/MyUalfGG4u

- Ali (@ali_charts) August 9, 2023

Ali highlights the potential for a significant shift in PEPE's trajectory, citing the TD Sequential indicator's buy signal as crucial to watch out for. He tweeted about the TD Sequential indicator giving a buy signal on the daily chart, indicating an initial target of $0.00000138.

If PEPE maintains a closing value above this threshold, it could rise to $0.00000159. Ali advised to monitor the situation closely and be cautious of invalidation if the value drops to $0.00000113.

Meanwhile, other experts from CoinPedia predict that the Pepe meme coin could reach a peak trading price of $0.00000525 by the conclusion of 2024. Nevertheless, the value might decrease to around $0.00000375 due to increasing unfavorable funding rates.

Considering the forces of buying and selling, the specialist envisions that PEPE's average trading price could stabilize at approximately $0.00000450 by the same year. By 2025, if the community's trading habits persist, PEPE's value might peak at $0.00000606, resulting in an average of $0.000005527.

However, there's a risk of decreased value due to low exchange liquidity and FUD, potentially leading to $0.00000498. Coincodex's 2025 forecast for Pepe Coin spans $0.000002151 to $0.000008652. This scenario implies a possible gain of 673.47% if PEPE reaches the upper target compared to its current value.

What Will Push The Coin Upward?

Amid significant price increases in the last few days, a deep-pocketed investor bought a huge PEPE share. Data from OnchainDatanerd suggests that.

1/

3 of our Smart Money seem to play the long game when they still hold $PEPE from the beginning:

0xAf2 holds 2.51T with $3.45M (53000x) unrealized gain.

0x720 holds 50B with $67.9K (178x) unrealized gain.

0x778 holds 279B with $380K (127x) unrealized gain. pic.twitter.com/eakF6lMlwN

- The Data Nerd (@OnchainDataNerd) August 15, 2023

According to OnchainDataNerd, PEPE is now among the coins held by the largest whales. On August 9, a new crypto whale bought 41 million PEPE with an unrealized gain of $8,700. Another whale accumulated 1.07 trillion PEPE with an unrealized gain of $162,000.

One among the large investors (whales) now holds a whopping 2.51 trillion PEPE with an unrealized gain of $3.45 million. Another whale holds 60 billion PEPE with an unrealized gain of $68 million, while the last one holds 279 billion PEPE with an unrealized gain of $380,000.

This investment by a large investor could have a notable impact on the price of PEPE.With a substantial injection of funds and the acquisition of a significant amount of PEPE coins, the increased demand from this purchase might drive up the price of PEPE.

The market's reaction to such a sizable investment can create a sense of confidence among other investors and traders, potentially attracting more interest and further contributing to price movement.

Moreover, the PEPE network was witnessing an increase in its adoption rate. IntoTheBlock reported that a new group of investors was being drawn to PEPE. According to data, PEPE has seen a 1.87% net network growth.

While these whale holdings suggest increased investor interest in PEPE, it bodes badly for the meme token. That's because its price could crash if these large investors decide to dump their holdings.

Nevertheless, it's crucial to recognize that the coin currently trading at a price 4077% higher than its all-time high of $0.000004354.While the PEPE coin shows positive gains today, investors should also consider SHIBIE, another coin poised to replicate the frog-themed coin's performance.

Wall Street Memes (WSM) Presale Surpasses $24M in Token Sales

>>>Visit Wall Street Memes Presale

The cryptocurrency market witnesses a surge as Bitcoin's remarkable rally triggers an upward trend in meme coins. This, in turn, leads to substantial gains for tokens like Shiba Inu and Bone.

Amidst this bullish environment, Wall Street Memes (WSM), a newly introduced token, makes a noteworthy debut during its presale by amassing a staggering $24 million in token sales.

The presale is scheduled to last for approximately 1 day, 11 hours, 45 minutes, and 55 seconds based on the official website's countdown timer. Currently, the presale price stands at $0.0337 with a total amount raised in USDT reaching $24,734,816.88 out of the targeted $25,928,599.67.

>>>Visit Wall Street Memes Presale

The project's roadmap is divided into three phases: Foundation, Launch, and Community Empowerment. These stages entail various tasks such as smart contract development, community building, marketing campaigns, partnerships, and token listings.

A substantial portion of tokenomics is allocated to marketing, community rewards, and liquidity, reinforcing the growth and sustainability of the Wall Street Memes ecosystem.

Furthermore, a generous airdrop of $50,000 worth of WSM tokens is set to reward fortunate recipients, cementing the project's commitment to its community. Nevertheless, the ongoing meme coin frenzy continues to create ripples as the WSM presale gains momentum.

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