The Pepe price has fallen by 2% today, dropping to $0.000009361 as the cryptocurrency market sheds 1% in the past 24 hours.
This move loses PEPE 4% in a week and 15% in a month, although the meme token holds on to a 666% increase in the past year.
And while PEPE has suffered in the last few weeks, the past few days have seen its trading volume rise beyond $1 billion.
This suggests an increase in demand, of a kind that will help its price recover in the coming days.
Pepe Price Outlook: PEPE Holds Steady as $1 Billion Volume Comes In – Are Whales Accumulating?
PEPE’s chart suggests that it will need to take a hit over the next day or so, before recovering towards the weekend.
Its 30-period moving average (orange) has just dropped below the 200-period average (blue), after looking like it would climb over the longer term indicator.
Source: TradingViewPEPE’s relative strength index (purple) is doing something similar, in that it has dropped from 70 last night to under 40 today, and may decline further before things improve.
However, one encouraging sign in all this is that PEPE’s trading volume is $1.3 billion as of writing, which indicates rising demand.
In the past few days some whales have actually sent PEPE to exchanges, likely to take advantage of what were then rising prices.
Yet the fact that the Pepe price hasn’t plunged would suggest that demand and volume is high enough to support some significant selling.
And we should expect the Pepe price to recover quite soon, given that the market appears to be in a pre-election bull phase.
There’s a widespread expectation, at least among traders, that Trump will win next Thursday’s count, with a Reuters/Ipsos poll yesterday finding that Harris’ lead over the former president has declined to only 1%.
This might seem like bad news for Trump, but it should be remembered that he beat Hilary Clinton in 2016 despite the latter having a 2% lead in the popular vote.
This was based on Trump winning in the all-important swing states, something which he could do again next week.
If he does, the Pepe price will surge, along with the rest of the market.
It could hit $0.000015 within a few weeks of a Trump win, before ending the year at $0.000025.
New Pepe Coin with Bullish Fundamentals
As PEPE suffers a brief drawdown, traders may find themselves diversifying into alternatives.
This may include smaller cap meme coins such as Neiro and Frog, but it may also include certain presale tokens, which can often generate enough momentum to rally vigorously when they list.
A great example of this comes from the new layer-two project Pepe Unchained (PEPU), which has raised a hugely impressive $23.4 million in its ongoing sale.
Pepe Unchained is exciting investors because of its strong fundamentals, with its L2 platform offering instant transactions and extremely low fees.
Because it offers stronger scalability and efficiency, it will also be able to offer holders double the staking rewards it would have offered as a normal Ethereum-based token.
This provides investors with a greater incentive to hold the token over the longer term, with the coin having a capped supply of 8 billion PEPU.
It has reserved 30% of this for staking, with 20% allocated to the presale, 20% to marketing, 10% to liquidity, 10% for its team, and 10% for chain inventory.
Also encouraging is the coin’s gradually expanding community, with its X account now having 38,000 followers, which is now putting some more established meme tokens to shame.
This is a nice early sign of its potential popularity, with a strong community often essential in supporting a meme token and its price longer term.
Investors can join its presale by heading over to the coin’s official website, where 1 PEPU token currently costs $0.01189.
This price will rise a few more times before the sale ends, at which point its early popularity suggests it could rally on exchanges.
Buy PEPU Now
The post Pepe Price Outlook: PEPE Holds Steady as $1 Billion Volume Comes In – Are Whales Accumulating? appeared first on Cryptonews.
