Last updated:
Author
Simon Chandler
Author
Simon Chandler
Share
Why Trust Cryptonews
The Pepe price has risen by 2% in the past hour, reaching $0.000008195 as the cryptocurrency market actually falls by 4% in the past day.
PEPE is now up by 12% in a week, and while it remains down by 7% in a month, it sits on a highly enviable 1,100% increase in the last 12 months.
And its mini-surge today comes as its trading volume tops $1 billion, with whales having resumed accumulating the meme tokens in recent weeks.
This points to incoming price gains, particularly as the market is now heating up in its approach to the end of the year.
Pepe Price Rally Ahead? $1.1 Billion Volume Buys the Dip – Can PEPE Reach $1?
PEPE’s big spike today find the coin regaining some momentum, after a so-so start to the week.
Its relative strength index (purple) has jumped beyond 60 after falling to 40 this morning, signalling the influx of buyers.
Similarly, its 30-period moving average (orange) has begun rising further above its 200-day average (blue), a sign that PEPE remains firmly within a period of expansion.
Indeed, its volume has ballooned today, and what’s also encouraging is that its resistance (red) and support (green) levels are close to colliding with each other.
This suggests that the Pepe price may see a breakout later in the week after a possible (and small) correction today.
Looking at the bigger picture, the meme token has seen a return in accumulation over the past few weeks, after a relatively quiet August.
This offers an indication that whales expect PEPE to return to growth very soon, and given that it has been one of 2024’s best-performing tokens, it has enough medium- and long-term momentum to end the year strongly.
It will take strength in this respect from the market’s improving mood, with the Fed’s rate cut helping things last week.
And more generally, it does seem that PEPE is likely to remain the favored major meme coin among whales for some time to come, meaning that it will continue to outperform its top-100 rivals.
The Pepe price could therefore reach $0.000010 as soon as next week, before ending the year at around $0.000015.
The Pepe Coin with Fundamentals
There’s really only one issue with Pepe, which is that as a meme token, it lacks the fundamentals to support its price after whales lose interest in it as a profit vehicle.
For this reason, many traders may also opt to invest in alts with decent fundamentals, with several new coins and presale tokens combining meme-appeal with actual utility.
One of these is new layer-two project Pepe Unchained (PEPU), which has raised an impressive $14.9 million in its ongoing sale.
Pepe Unchained’s layer-two network will provide all-but instant transactions and competitively low fees, with its platform focusing on becoming an ecosystem for meme coins.
Because of its speed and scalability, Pepe Unchained will also be able to offer double the usual staking rewards.
This will incentivize greater ownership of PEPU and greater involvement in its network, with the coin having a max supply of 8 billion PEPU.
And as a Pepe-themed meme token, it’s very encouraging to note that the coin’s X account now has more than 18,000 followers.
Combined with its impressive raise, this signals considerable early interest in the project.
Read More: Pepe Unchained Price Prediction
Investors can get involved in PEPU’s sale at the coin’s official website, where they can buy PEPU using either ETH, BNB, USDT or fiat currency.
It’s currently available at a price of $0.00984, with this price rising again tomorrow.
Of course, it could rise much higher once it lists on exchanges, given its current momentum.
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.
