Pepe Coin’s price nears support level – can it reach new highs?
Pepe Coin’s price has increased by 1% in the last 24 hours, reaching $0.00000127 while the overall cryptocurrency market has slightly decreased by 0.5%.
The current price of PEPE has dropped by 12% in the past week and 21% in the past two weeks, but it has increased by 9% in the last 30 days and more than 2,000% since CoinGecko began tracking it.
However, the recent decrease in PEPE’s price suggests that the coin may have lost its momentum, and there are few signs of any new major exchange listings on the horizon.
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Nevertheless, the fact that it has bounced up from its $0.0000012 support level is encouraging and raises hopes that it may be on the brink of a significant rebound.
Pepe Coin Price Prediction: PEPE Approaches Support Level – Can Bulls Push it to New Highs?
Encouragingly, PEPE’s little rebound today suggests that it could be close to rallying, with its indicators showing renewed signs of strength.
For one, PEPE’s 30-day moving average (yellow) has slowed its steep decline of the past few days and looks ready to begin climbing towards its 200-day average (blue), at which point a breakout could begin.
At the same time, the coin’s relative strength index (purple) has moved from a low of 20 yesterday to just over 50 today, another sign that PEPE may continue rising for the next few days.
Furthermore, PEPE’s support level (green) suggests that the recent selloff may have bottomed out, and that the only way now is up.
Although PEPE is a meme token with no real utility or use case, if a positive narrative can develop around the meme token, perhaps regarding the possibility of a listing on blockchain or another major exchange, then it could easily begin rising again.
PEPE has already received high-profile listings from Binance, OKX, and Kraken, so there aren’t many major trading platforms that don’t list it.
However, it’s hard to see where a bullish news story might come from, with the meme token’s 24-hour trading volume declining from more than $2 billion in early May to about $120 million today.
This indicates a massive decline of interest in the token, although some data, such as the quantity of the coin held in the top 100 PEPE-holding wallets, does suggest that whales may be slowly accumulating it.
This accumulation (however modest) could point to an incoming rally, something which is supported to some degree by today’s 1% rise.
If so, PEPE may jump from its current price of $0.00000127 to $0.0000015 or even 0.000002 in the next week or so, although this may require a big purchase or piece of news.
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A High-Potential Alternative
While some traders may be disappointed that they missed out on PEPE’s biggest rallies, there are still a number of new altcoins that present the possibility of big incoming gains.
These include presale tokens, with some of the biggest of these potentially heading towards big rallies once they list on exchanges.
For example, ecoterra is an Ethereum-based recycle-to-earn platform that has raised more than $4.6 million in the presale for its native ECOTERRA token.
With its app scheduled to go live later this year, Ecoterra’s platform will enable users to receive ECOTERRA and NFTs in return for recycling household waste at participating recycling points.
Its platform will also reward users for providing proof of their use of renewable energy, while it will also have a carbon offset marketplace, enabling users to trade carbon credits as NFTs.
This ambitious blueprint has brought a growing number of investors to ecoterra’s presale, which is currently in its seventh stage and is selling 1 ECOTERRA at $0.008500.
This means that the price of ECOTERRA will increase in the next few days, but the sale will end at $0.01. This represents a 17.6% increase from the current sale price of the token.
Despite this, due to ECOTERRA’s strong fundamentals, it could potentially increase even further once it is listed on exchanges in the coming months.
Click here to visit ECOTERRA.