Pepe coin, one of the staple meme coins in the crypto market, is currently experiencing a significant decline, dropping 21% over the past seven days. This weakness is happening amid a broader market downturn, with Bitcoin dropping below the $60,000 level.
Inspired by the iconic ‘Pepe the Frog’ character, $PEPE has quickly gained traction among a wide range of investors. This Ethereum-based meme coin has rapidly risen to become the third-largest in its category, with a market capitalization of approximately $3.3 billion.
Despite its early success, $PEPE has faced challenges as its price has come under considerable downward pressure. Although market sentiment remains cautious due to reduced retail interest, optimism persists for a potential rebound.
$PEPE Crypto Price Prediction
Pepe coin is now priced at $0.00000756, having fallen more than 55% from its peak. It has seen a 24-hour trading volume of $354.08 million and a slight increase of 0.58% in the past day. The 14-day relative strength index (RSI) for $PEPE is 43.34, suggesting a neutral position.
Despite a significant drop from its all-time high market cap of $7 billion, Pepe coin has room for growth, unlike other established meme coins like Doge and Shiba.
The possibility of a 2x to 3x return is realistic if market conditions improve, particularly with the historically bullish month of October approaching. However, if $PEPE fails to hold its current support levels, it could lead to further declines.
For a thorough forecast of Pepe coin’s price movements, watch the video above and follow his YouTube channel . Additionally, join the Jacob Crypto Bury Discord server for trading tips and the latest news on upcoming crypto presales.
Whale Activity Surges as Major Investors Accumulate $PEPE Amid Market Challenges
Despite recent declines in profitability and a tough market environment, significant whale activity has been noted, indicating large investors are buying Pepe coins at lower prices.
Lookonchain reported that an address linked to Ceffu acquired 1.48 trillion $PEPE worth over $11.6 million from Binance. Additionally, another whale, who previously earned $1.77 million from $PEPE, spent $1.34 million in $USDC to purchase more Pepe coins.
This activity underscores rising interest in $PEPE from institutional investors preparing for a potential altcoin season and reflects ongoing enthusiasm among experienced traders despite the cautious broader market.
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