Pepe Price Prediction 2023: Is PEPE Verge On Thrusting Upwards?

Pepe
  • Pepe (PEPE) price surged 2.79% on the past day and currently trading at $0.00000154
  • Pepe (PEPE) whale holding data states that whales hold 39.7% of the total supply with a significant rise of 5% in the past 1 month.

Pepe (PEPE) is a meme coin launched on Ethereum. Pepe coin aims to launch a decentralized network for meme enthusiasts to trade digital assets based on their favorite memes. Pepe (PEPE) derivatives data states that a total of $157.6K OI has been created on the long side against $175.06K OI on the short side. 

Pepe’s price is currently trading at $0.00000154 with an increment of 2.79% in the past 24 hours. According to coinmarketcap data, Pepe cryptocurrency holds a total Market cap of $602.9 Million and ranks at 69th position in the crypto market. It has received $78.26 Million in volume in the past 24 hours which is 26.05% less than the previous day. Also, It has over 391.7 Trillion circulating supply which is 93.1% of the total supply. The volume to market cap ratio of PEPE coin is 13% which indicates medium volatility in the market.

Pepe Price Prediction Using Price Action Strategy

  
        

As per the price prediction of Pepe cryptocurrency in a daily timeframe, It was observed to be in a long-term uptrend as the price surged by 80% in the past 20 days.

Moving over to the 4H chart, It is observed that the price is in a short-term correction phase by getting rejections from trendline resistance. However, volume analysis shows a continuous drop in the volume while correction indicates towards the end of the correction phase. 

Indicator Analysis
Source: PEPE/USD By TradingView

Currently, Pepe price has got support from 200 EMA and trying to make a shift in the short-term trend. Now, If the price is able to break and sustain above the trendline in 4H Timeframe, then the PEPE coin may soon give a breakout and the price may soon reach new heights.

Indicator Analysis

As Per the EMA analysis, PEPE’s price has taken support from 200 EMA and currently trading above all the EMA indicates a possible change in the short-term trend.

At the time of publishing, the RSI value of Pepe is 50.93 and that of the SMA line is 44.05. RSI is headed upwards by taking support from the SMA line indicating bullish sentiment.

MACD lines have made a bullish crossover. Also, histogram bars are forming above the mean line which shows positive sentiment in the market.

Conclusion

Pepe’s (PEPE) coin price prediction concludes that the price seemed to be in a short-term correction phase after a hike in the price by 80%. However, Current price action and indicators point toward the end of the correction phase. If the price is able to break and sustain above trendline resistance then the price may skyrocket soon to form a new high.

Technical levels

  • The support levels at $0.000001372 and $0.000001028
  • The resistance levels at $0.000001729 and $0.000001894

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

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