Last updated:
Author
Simon Chandler
Author
Simon Chandler
Share
Why Trust Cryptonews
Ad Disclosure
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Pepe has risen by 7% in the past 24 hours, with its move to $0.0000207 coming as the wider crypto market enjoys a much-needed day of recovery.
PEPE had been struggling for much of the past week, yet a New Year’s Day bounce has seen it make up for lost time, with the meme token now up by 18% in seven days.
However, it remains up by only 1% in a month, raising questions as to whether it can return to the all-time high it reached in early December, in the midst of the post-election bull rally.
But with Elon Musk recently giving it a boost via his brief use of Pepe for his X profile image, the coin looks well positioned to rally strongly this year.
PEPE’s Rally Stalls as Musk Effect Fades – Is This the Start of a Bigger Decline?
PEPE had been in trouble in the days leading up to the New Year, with Christmas Day failing to give the token any festive cheer.
It has since recovered in the wake of Elon Musk changing his X profile picture to an image of Pepe.
Interestingly, PEPE declined again after its Musk-induced rally, but it has risen by 7.5% since hitting a 24-hour low of $0.00001915.
PEPE’s 24-hour trading volume reflects this new momentum, having risen from $2 billion to $2.3 billion in a matter of hours this morning.
Its chart is showing encouraging signs at the moment, with its relative strength index (purple) rising back up to 70, a sign of buying pressure.
We also see that, after climbing above the 200-period average (blue) on New Year’s Eve, the 30-period average (orange) is continuing to rise.
Together, this suggests that PEPE has reentered a growth phase, much like the rest of the market.
Aside from the recent overselling, there are fundamental reasons for this, with the most obvious being that the US is nearing Donald Trump’s inauguration.
While some have warned that this could be a sell-the-news event, it will mark the opening of a period of positivity for crypto.
Not only is the SEC likely to change its stance on crypto with the arrival of Paul Atkins as its Chairman, but Congress is likely to push through with pro-crypto legislation, while Trump himself may issue bullish executive orders within his first few days of office.
In such a context, PEPE is as likely to rally as any other meme coin, with its ownership numbers continuing to rise steadily.
It could reach $0.0000250 in the next few weeks, and $0.000035 by Q2.
New Pepe Coins Offer Market-Beating Gains
Assuming that PEPE is at risk of losing steam, many traders should look to newer alternatives for their above-average returns, with several presale coins looking very good right now.
Chief among them is Wall Street Pepe (WEPE), an ERC-20 token that has already raised a whopping $39.4 million in its presale.
Wall Street Pepe is shaping up to be successful because it will be more than just another meme coin, with the project also launching a trading intelligence platform.
Its platform will provide WEPE holders with exclusive buying signals, real-time analytics and insider trading strategies.
It will also come with its own community, who can not only share tips and analysis, but will also have the chance to compete in trading competitions.
Winners of such competitions will earn rewards in WEPE, while the token will also be open to staking, earning holders additional income.
This all makes Wall Street Pepe look highly promising, with investors able to join its sale by going to its official website.
WEPE is currently selling at a price of $0.0003663, although this will increase later today.
Traders should therefore act quickly, since the early signs suggest that Wall Street Pepe could surge 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.
