CryptoSphere by AsCurrency

CryptoSphere: cryptocurrency news, market analysis, blockchain trends and investments. Your essential guide to the digital economy

Meme Coin PEPE Sets the Path to New All-Time Highs


Pepe’s price mirrors the broader market’s corrective phase, finding itself at a critical support threshold.

Yet, the narrative from this juncture could take a positive turn, buoyed by investor confidence that remains steadfast.

Pepe Investors Hold Steady

Despite a 26% drop recently, Pepe’s outlook appears geared towards recovery, driven by investor optimism. This sentiment is captured by the transition of tokens from short-term to mid-term holders, indicating a deeper commitment to holding onto their investments for potential future gains.

Currently, an impressive 36 trillion PEPE, valued at over $232 million, has transitioned from the hands of short-term investors—who typically hold for less than 30 days—to mid-term holders, who retain their assets for one month to a year.

This significant shift reflects a growing investor belief in the meme coin’s prospects.

Pepe Supply Distribution.
Pepe Supply Distribution. Source: IntoTheBlock

The confidence is not limited to retail investors alone. Crypto whales have also shown their bullish stance, amassing nearly 4 trillion PEPE, approximately worth $26 million, in the past day.

Pepe Whale Netflows.
Pepe Whale Netflows. Source: IntoTheBlock

PEPE Price Prediction: All-Time Highs

Currently trading at $0.00000644, Pepe is delicately poised just above the vital $0.00000633 support line. This is a boundary that has consistently held firm over the last month.

With investor bullishness and positive signals from the Ichimoku cloud, which hints at a bullish trend when positioned below the candlesticks, Pepe is positioned for a potential rebound.

This setup could propel Pepe’s price past $0.00000826 and even toward a new all-time high of $0.00001000.

Read More: Pepe (PEPE) Price Prediction 2024/2025/2030

PEPE/USDT 1-day chart.
PEPE Price Chart. Source: TradingView

Should Pepe break through its current support, however, it may trigger a corrective phase, challenging the bullish outlook and potentially pushing the price down to the next support level at $0.00000474.

Best crypto platforms in Europe | April 2024


YouHodler

YouHodler
Explore →

Wirex App

Wirex App
Explore →

M2 Exchange

M2 Exchange
Explore →

PrimeXBT

PrimeXBT
Explore →

SunContract

SunContract
Explore →

Trusted

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.


Conclusion

In conclusion, Pepe’s price is currently at a critical support level amidst a broader market corrective phase. However, investor confidence remains strong, with a significant number of tokens transitioning to mid-term holders, indicating a belief in Pepe’s future prospects. Additionally, crypto whales have been accumulating PEPE, further supporting a positive outlook. With bullish signals from the Ichimoku cloud and a potential rebound expected, Pepe could surpass its current resistance levels and reach a new all-time high. Despite the possibility of a corrective phase if the support is broken, the overall sentiment points towards a positive trajectory for Pepe’s price in the near future.

  • bitcoinBitcoin (BTC) $ 66,303.00
  • ethereumEthereum (ETH) $ 3,576.66
  • bnbBNB (BNB) $ 607.46
  • solanaSolana (SOL) $ 144.95
  • xrpXRP (XRP) $ 0.483619
  • cardanoCardano (ADA) $ 0.411981
  • shiba-inuShiba Inu (SHIB) $ 0.000021
  • polkadotPolkadot (DOT) $ 6.22