bitcoin
Bitcoin (BITCOIN)
$118,885 -0.84%
ethereum
Ethereum (ETHEREUM)
$3,634 -2.94%
binancecoin
BNB (BINANCECOIN)
$775.95 -2.48%
solana
Solana (SOLANA)
$189.45 -7.49%
ripple
XRP (RIPPLE)
$3.21 -9.32%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000014 -9.62%
pepe
Pepe (PEPE)
$0.000013 -9.52%
bonk
Bonk (BONK)
$0.000035 -5.44%
bitcoin
Bitcoin (BITCOIN)
$118,885 -0.84%
ethereum
Ethereum (ETHEREUM)
$3,634 -2.94%
binancecoin
BNB (BINANCECOIN)
$775.95 -2.48%
solana
Solana (SOLANA)
$189.45 -7.49%
ripple
XRP (RIPPLE)
$3.21 -9.32%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000014 -9.62%
pepe
Pepe (PEPE)
$0.000013 -9.52%
bonk
Bonk (BONK)
$0.000035 -5.44%
bitcoin
Bitcoin (BITCOIN)
$118,885 -0.84%
ethereum
Ethereum (ETHEREUM)
$3,634 -2.94%
binancecoin
BNB (BINANCECOIN)
$775.95 -2.48%
solana
Solana (SOLANA)
$189.45 -7.49%
ripple
XRP (RIPPLE)
$3.21 -9.32%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000014 -9.62%
pepe
Pepe (PEPE)
$0.000013 -9.52%
bonk
Bonk (BONK)
$0.000035 -5.44%
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PEPE Price Prediction – PEPE Likely Headed for Breakout to $0.000015

Highlights:

  • PEPE is consolidating between the $0.00001450 resistance and $0.00001356 support
  • Bullish breakout more likely due to rising demand for PEPE 
  • A breakout could push PEPE to $0.000015 in the short term 

PEPE (PEPE) is in a slight correction today, reflecting the overall lack of action across the market in the day. When writing, PEPE was trading at $0.00001368, down by 1.42% in the day. Interestingly, PEPE’s trading volumes have also dropped sharply during the day. In the last 24 hours, PEPE volumes are down by 40.33% to $1.19 billion. Such a sharp decline in trading volume indicates that holders are not selling despite the correction of the intraday price. It is a sign of strong investor confidence in PEPE going into the future. The strong expectations around PEPE are not without basis. A lot is happening in the market that supports such a rally. 

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Bullish Sentiment Around Ethereum Is A Positive Signal for PEPE Price

One of them is that Ethereum is turning bullish after a long time of sluggish performance. Ethereum has recently gained by over 60% and is now edging closer to $4000. Expectations are high that once the $4000 mark is broken, Ethereum could be headed to new all-time highs. Some analysts speculate that prices as high as $10k could be hit in the short term.

This is a big deal for PEPE because it uplifts its entire ecosystem whenever Ethereum does well. PEPE is particularly well-positioned because it is one of the better-known Ethereum meme coins. This may explain why PEPE holders are not trading their tokens despite the intraday price weakness. Instead, they are taking them off exchanges with a long-term view of the market.

Whales Are Aggressively Accumulating PEPE

PEPE is also getting a boost because whales continually accumulate regardless of its short-term price action. Data indicates that whale activity on PEPE has been so aggressive that the top 10 wallets now control around 38% of the total supply.

Despite such a concentration of tokens in a few wallets, the market is not wary of a centralization risk. This can be explained by the fact that one of the top 10 largest PEPE wallets is a burn wallet and currently holds more than 6.9 trillion PEPE tokens. This means that over time, more PEPE is permanently being taken out of circulation and could positively impact demand and supply dynamics going into the future. Besides, most of the big wallets holding PEPE are not actively trading, which means the more they buy, the better the supply and demand dynamics.

Analysts Setting the Pace for PEPE FOMO with Bullish Projections

PEPE’s perception amongst analysts is also increasingly positive, which is a big deal in building FOMO. One analyst who is giving out bullish projections for PEPE is Jack Gagain. He believes that in the event that Ethereum is able to recapture its last all-time high, the momentum it could create in the market could see PEPE make new all-time highs as well. Such projections at a time when Ethereum is showing strength could play a significant role in drawing in retail money to PEPE and help push its price to new highs in the foreseeable future.

Technical Analysis – PEPE Price Is Consolidating with Supporting Holding Strong

PEPE is currently in a multi-day consolidation between the $0.00001450 resistance and $0.00001356 support. If bulls are strong enough to push the price through the $0.00001450 resistance, PEPE could hit $0.000015 in the short term.

PEPE
Source: TradingView

On the other hand, if bears take control and push PEPE through the $0.00001356 support, then a correction to $0.00001274 could follow. With Ethereum increasingly showing strength, the odds favor a bullish breakout for PEPE in the short term.

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