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Simon Chandler
Author
Simon Chandler
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The Pepe price has dipped by 5% today, falling to $0.000009986 as the wider cryptocurrency market drops by 2.5% in the past 24 hours.
Most major cryptocurrencies are correcting after a strong start to the week, although Pepe remains up by 7.5% in a week and by 35% in the last 30 days, with the meme coin also boasting a 1,300% increase in the past year.
Not only do such percentages find Pepe outperforming most other top-100 tokens, but the coin’s technicals today suggest that it’s on the brink of rebounding strongly, and perhaps even breaking out.
Pepe Price Forecast as Technical Analysis Points to Massive Breakout – 50% Surge Incoming?
After a significant rally at the start of the week, Pepe has returned to an oversold position from which it should rebound yet again, as we saw last week.
Its relative strength index (purple), for example, has just bottomed out at around 30 and looks like it’s about to begin rising again.
Having said that, we may need to wait for PEPE’s 30-period moving average (orange) to drop below the 200-period average (blue), which is the conventional sign of a bottom.
What’s also encouraging in this respect is that Pepe’s trading volume is at around $1.7 billion today, a sign of strong demand.
Indeed, we have witnessed a few significant PEPE buys in the past week or so, with one whale withdrawing 101 billion PEPE from Binance at the end of last week.
This follows other similar buys from the end of September, indicating that PEPE is in the middle of an accumulation phase.
Based on this activity, and based on the coin’s current position, we should see the Pepe price return to $0.000010 within a day or two, before it climbs higher.
The medium-term also looks very good for PEPE, with the coin likely to be one of the biggest beneficiaries of an increasingly bullish market.
The latter’s positivity has gained strength from the Fed’s September rate cut, while additional cuts before the end of the year could ramp things up even further.
It’s also possible that the market is taking strength from improved polling data for presidential candidate Donald Trump, who is perceived as being more pro-crypto than his rival, Vice President Kamala Harris.
So assuming a Trump victory and one or two more rate cuts, the Pepe price could reach $0.000020 by the end of November.
New Pepe Token with Strong Fundamentals
Pepe is likely to remain the strongest top-100 meme token for the foreseeable future, yet there are other, newer meme coins that could also have a big end to the year.
This includes certain presale tokens, with some generating plenty of momentum right now and preparing to list on exchanges.
One of these is layer-two project Pepe Unchained (PEPU), which has now raised a whopping $20.2 million in its popular sale.
Pepe Unchained is a few weeks away from launching its L2 network for Ethereum, with the project aiming to become a major hub for meme tokens.
It will provide super fast transactions (and instant bridging between Ethereum and its own chain), with its throughput likely to be 100x faster than Ethereum’s.
Other benefits include competitively low fees and double the normal staking rewards, which it can provide by virtue of its enhanced scalability.
And because it will be necessary to pay for Pepe Unchained’s transaction fees, it could experience considerable demand, pushing up its price over time.
It has a max supply of 8 billion PEPU, with its protocol allocating 30% to staking and 20% to its presale.
Perhaps most importantly of all, it already has a thriving community, with its official X account reaching over 47,000 followers.
Read More: Pepe Unchained Price Prediction
Investors can join PEPU’s sale at the coin’s official website, where it’s now selling at $0.0103 per token.
This price will rise in just under a day and will rise a few more times before the sale ends.
It will then list on trading platforms, where its early popularity suggests it could moon.
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.
