Category: Forex News

PEPE Price Prediction: After 320% rally, will it erase another Zero this Week?

For context, the highest value for March 2024 was 414.3 trillion Coin Age consumed, recorded on March 14., which is 90% lower than the February peak of 3,776 trillion.

When a crypto asset records a relatively low Age Consumed during a price pullback as observed on the PEPE network this week, it suggests that majority of long-term investors have opted to HODL rather book profits at the current prices.

Come to my page!

If the long-term investors maintain this stance, its only a matter of time before short-term swing traders run into fatigue. In essence, PEPE price is likely to hold relatively high support level, giving the bulls a chance to regroup for the next phase of the  rally.

PEPE Price Prediction: Will it erase another Zero this Week?

The curtailed selling pressure among long-term investors puts PEPE price in good stead to erase another zero and rebound toward $0.000015 in the coming week.

At the time of writing, PEPE is currently trading at $0.000008, just above the 20-day SMA price of $0.0000073. This suggests that the bulls are still largely in control of the short-term market momentum.

But, to kickstart the next wave of the rally, PEPE bulls must first scale the initial resistance roadblock at the $0.000009.

As seen below, 18,610 addresses aped in on the rally and acquired 16.5 trillion PEPE at an average price of $0.00009 last week. Many of them could look to exit once price approach their break-even mark again.

But, if PEPE can breach that sell-wall, a rally toward $0.000015 could be on the cards as predicted.

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Written by : Editorial team of BIPNs

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