The Pepe Coin price has dropped by 1% in the past 24 hours, slipping to $0.00000128 as the cryptocurrency market as a whole enjoys a 2% increase today.
Despite this fall, PEPE is now up by 25% in a week and by close to 115% in the last month, with the meme token making a strong comeback as the market enters a more bullish phase.
And even though it has risen strongly in the past couple of weeks, it could still continue to rise as 2023 ends, with the coin remaining 69% down from its all-time high of $0.00000431.
Pepe Coin Price Prediction as 115% Three-Week Surge Signals Bullish Momentum – Time to Buy?
PEPE’s indicators continue to signal further gains, even if they’ve been in an elevated position for several weeks now.
Its relative strength index (purple) remains close to 70, a sign of good momentum and buying pressure that’s likely to carry the coin higher.
Source: TradingView
Similarly, PEPE’s price has surged well beyond its 30-day average (yellow), often a sign of a breakout rally, which PEPE had been due for a while now.
Also positive is the coin’s support level (green), which has risen very decisively in the past couple of weeks, protecting PEPE from falling back down to older levels during dips.
Perhaps the most telling sign of all, however, is PEPE’s 24-hour trading volume, which has shot from under $20 million to around $400 million in a matter of weeks.
As with other coins, this indicates that whales are getting back into PEPE, with data showing that some larger traders have begun accumulating again.
A whale spent 617 $ETH($1.11M) in the past 2 days to buy 996B $PEPE.
This whale has also traded 2 tokens this year.
Lost 456 $ETH ($1.3M) on $ARB and made 269 $ETH ($423K) on $MKR.https://t.co/H1UddPZlGe pic.twitter.com/oZgDZYScSH
— Lookonchain (@lookonchain) November 3, 2023
Such accumulation implies that bigger traders are expecting PEPE to rise even further, meaning that even now potentially remains a good time to buy the coin.
Of course, the fact PEPE is one of the favored profit vehicles of whales reminds us that is price can fall when whales decide to take profits and dump their holdings.
That said, this may not happen for a while yet, with the wider market rising strongly at the moment and carrying PEPE with it.
Positive ETF news – related to both Bitcoin and Ethereum – is the main reason for reason market-wide gains, and for as long as such news keeps coming, PEPE is likely to continue its ascent.
It may reach $0.0000020 by the end of the year, before hitting $0.0000040 again in the first few months of 2024.
Newer Meme Tokens With Fundamentals
The main issue with PEPE is that it lacks any real fundamentals or utility, with whales likely to dump it at a moment’s notice.
As such, some traders may prefer to look for meme tokens that offer something a little more meaningful, with several newer meme coins currently fitting this bill.
One of the best examples of this is Meme Kombat (MK), an ERC-20 crypto that began its presale a month ago and has already raised more than $1.4 million.
With staking just launched and our community growing day by day, we just want to celebrate yet another milestone that we smashed.
We hit $1.4 million raised in presale!
Thanks kombatants pic.twitter.com/t2mrYrXnvC
— Meme Kombat (@Meme_Kombat) November 10, 2023
Meme Kombat has been able to attract enthusiastic investors because of the uniqueness of its platform, which will enable users to bet on AI-generated meme battles.
By using AI, Meme Kombat generates randomized battles and also visualizes them in real-time, turning bets into an entertaining online spectator sport.
And in a year when memes have proven resiliently popular, Meme Kombat’s use of familiar characters is likely to help it grow a sizeable community.
Major Update
The Meme Kombat Staking Dashboard is officially live and ready to be used by you!
Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G
— Meme Kombat (@Meme_Kombat) November 9, 2023
The platform will pay out winnings in the form of native token MK, which will have a hard cap of 120 million, with 50% of this going to the presale and another 30% to staking and battle rewards.
This is likely to make it decentralized, on the one hand, and highly profitable on the other, with new investors able to join by going to Meme Kombat’s official website.
1 MK is selling at $0.189, although its early popularity suggests it could grow much higher once it lists.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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