The Pepe price has dived by 5% in the past 24 hours, dropping to $0.000007364 as the crypto market gains by 1% today.
PEPE is now up by 1.5% in a week but down by 17% in a month, as well as by 31% in relation to its all-time high of $0.00001064, which it set on March 14.
While it has corrected in recent weeks, its trading volume remains encouraging, having risen from $240 million a couple of days ago to just over $600 million today.
It could therefore experience another significant rally in the coming days, as traders take the opportunity to buy it at a relative discount.
Pepe Price Prediction as $600 Million Trading Volume Floods In – Here are Key Levels to Watch
PEPE has begun correcting after a few days of decent gains, so it’s only a matter of time before it rebounds again.
In fact, its relative strength index (purple) has halted a dive towards 30 and has just pointed upwards again, a potential sign that the recovery may come later today.
Source: TradingView
However, its 30-day average (orange) has only just recently begun falling, so it may not be until it has dropped some way below the 200-day (blue) that the coin rallies.
Its support level (green) has held up well in recent days, so even if the Pepe price does lose a little more value in the near future, it shouldn’t lose too much.
This view receives some support from the coin’s trading volume, which at $600 million signals some sustained interest in the token.
Having said that, this is still some way from the levels – e.g. reaching $3 billion in volume – it enjoyed in March, when it broke its ATH.
As such, PEPE will probably need to wait for the wider market to get into gear again before it can post some decent returns.
This could happen sooner rather than later, given that the market is gearing up for the next Bitcoin halving, which will take place on April 20.
Historically, the #Bitcoin halving event leads to a massive rally — but not before a period of choppy price action, designed to shake people out.
Don’t fall for it. The best is yet to come. pic.twitter.com/DBTV3eyHX2
— Jelle (@CryptoJelleNL) April 5, 2024
The market could also gain additional support from the approval of spot-based Ethereum ETFs, with several major institutions having submitted applications in recent months.
Such factors, combined with potential interest rate cuts, could increase investor appetite for more speculative assets such as PEPE.
For this reason, the Pepe price could reach $0.000010 once again in the next few weeks.
New Meme Tokens Bring Big Potential
As promising as PEPE still looks, it won’t be the only meme token to rally strongly as and when the market goes through another surge.
There are also several newer meme coins that look very good at the moment, including a few that are holding their presales as they prepare to list.
One of the most promising of these is Dogeverse (DOGEVERSE), a multi-chain cryptocurrency that launched its sale a few days ago.
#DOGEVERSE is soaring through the multichain universe today!
Raising over $300,000! #Cosmo extends his gratitude to all the #Doge lovers for their support!
Onto the next one! pic.twitter.com/EXTY6AhAuN
— DogeVerse (@The_DogeVerse) April 9, 2024
It has already raised $335,000 in this sale, a sign that investors are already buying into its plans to become one of the first and biggest multi-chain meme tokens in the market.
In addition to launching on Ethereum, Polygon and BNB Chain, it will also run on Solana, Avalanche and Base.
This will make it accessible to a wider pool of investors and users, something which can only help its price in the long run.
As a token, it has a max supply of 200 million tokens, with 15% of this going to its presale and 10% going to staking.
It will initially launch on Ethereum, but the use of the Wormhole and Portal bridges will enable users to transfer it to the other aforementioned bridges.
That people can use it on multiple chains should provide the token with many potential applications within multiple ecosystems, thereby boosting its demand.
#Cosmo wants to unite the #Crypto meme community and stand as the #Vanguard of multi-chain utility.
Launching on 6 different #Blockchains, Cosmo aims to shine on every #DEX, #CEX, and meme degen hub.
With interstellar convergence, Cosmo redefines trending on @DEXToolsApp! pic.twitter.com/3OLoPkfcTC
— DogeVerse (@The_DogeVerse) April 8, 2024
Based on such factors, and based on its use of ever-popular Doge-related memes, it looks ready to become a big hit once it launches in the next few months.
Investors can join its sale by going to the official Dogeverse website, where 1 DOGEVERSE costs $0.00029.
Buy DOGEVERSE Today
The post Pepe Price Prediction as $600 Million Trading Volume Floods In – Here are Key Levels to Watch appeared first on Cryptonews.