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Simon Chandler
Author
Simon Chandler
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The Pepe price has dropped by 4% in the past 24 hours, declining to $0.000007143 as the cryptocurrency market loses 2.5% today.
The meme token is also down by 0.5% in a week and by 12.5% in the last 30 days, yet it retains a highly impressive 920% increase in the past year.
And while it has fallen more recently, its 24-hour trading volume remains relatively high at $1 billion today, which far exceeds the volumes for Shiba Inu (SHIB) and Dogecoin (DOGE), at $210 million and $500 million, respectively.
This difference highlights how PEPE remains the most popular major meme coin, and that it’s in a leading position to post big gains again once the market returns to growth.
Will Pepe Price Outshine SHIB for Good? – This Indicator Says Yes
PEPE may be down today, but its indicators are now moving into a position where the coin will be likely to bounce back up again.
This is particularly evident with its relative strength index (purple), which dropped almost to 30 this morning, a prelude to a rebound.
On the other hand, PEPE’s 30-period moving average (orange) is just about to fall below the 200-period average (blue), so it may be a day or two yet before we see a proper recovery.
Either way, it’s encouraging to note that PEPE’s trading volume is still fairly high today, at $1 billion.
As mentioned above, this is much higher than the volumes we see for DOGE and SHIB today, suggesting that PEPE continues to be more popular among retail traders and whales.
Indeed, PEPE has been enjoying recurring rallies for much of the past 12 months, with the coin having reached its current ATH of $0.00001717 on May 27 of this year.
This is more recently than with Bitcoin (new ATH in March), and much more recently than with SHIB and DOGE, which both set their record highs way back in 2021.
It would therefore seem that much more momentum is with PEPE, and if we were to suggest that a major meme coin has a better chance of good returns in the future, we would pick PEPE.
While September is historically a bad month for the cryptocurrency market, we can expect the Pepe price to pick up again from October.
It could find help in the form of rate cuts from the Federal Reserve, with three expected this year.
Its near-term target is $0.000010, while it may hit $0.000015 by the New Year.
New Pepe Coin with Fundamentals
PEPE is likely to see additional big gains in the not-too distant future, but there may come a point where it gets too big and too well-established for its own good.
Traders may want to preempt this possibility by diversifying into newer meme coins, and while many of the latter are highly risky, there are some that are showing some real promise.
One of these is layer-two project Pepe Unchained (PEPU), which has raised over $12.8 million in its highly popular presale.
Pepe Unchained is building a layer-two network for Ethereum, with its L2 offering speedier transactions and competitively low fees.
It’s looking to develop its own ecosystem for meme tokens, something that could see it capture market share from existing layer-two networks.
What’s also bullish that, because of the platform’s scalability and efficiencies, it will provide double the staking rewards it would have as a layer-one coin.
This will provide a greater incentive to hold PEPU for longer, and given that the coin is already useful insofar as users will need it to pay for transaction fees, it could witness massive demand.
It will come with a max supply of 8 billion PEPU, with 30% of this going to staking and 20% to the ongoing presale.
It’s also worth mentioning that the coin’s X account now has over 13,000 followers, a sign of its ballooning popularity.
Read More: Pepe Unchained Price Prediction
While there isn’t long left, you can still join PEPU’s sale at the coin’s official website, with the coin now selling at $0.0096126.
It will see a few more scheduled price increases before the sale ends, at which point it will list, and potentially make early investors a tidy profit.
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.
