The PEPE price has surged by 13.5% in the past 24 hours, rising to $0.00000131 as the wider market posts a 3.5% gain within the same timeframe.
PEPE has now risen by 16% in a week and by 100% in the last 30 days, marking a strong comeback for the meme coin, which had languished over the past few months after a strong May.
And with the cryptocurrency market likely to enjoy rising momentum over the next few weeks (particularly if and when Bitcoin ETFs gain approval), PEPE should make further gains soon enough, even if volatility could see it sinking again soon after.
PEPE Price Prediction as Market Recovery Pushes a 114.5% Surge – $1 PEPE Coin Incoming?
PEPE has shown considerable strength during the recent rally, with the coin outperforming many other top-100 coins.
Its indicators reflect its bullishness, with its RSI (purple) hitting 70 today and likely to rise further before coming down again.
Source: TradingView
At the same time, its price has decisively climbed beyond its 30-day average (yellow), offering a clear sign that PEPE is in the middle of a breakout out to a new level.
Its support level (green) reinforces this view, in that it has settled at increasingly higher points over the last few weeks.
This provides PEPE with a strong base from which to launch new rises, and with its volume still relatively elevated, more gains could be coming soon.
Indeed, whales have been accumulating the token in recent days, suggesting that the coin may have some more gains in store before it corrects downwards again.
What did the whale buy recently?
The whale with 10,080 $ETH($19.4M) spent 1,433 $ETH($2.6M) to buy 2.51M $ARB at $1.045 and 1,038 $ETH ($1.9M) to buy 1.65T $PEPE at $0.000001154.
The whale is currently making $177K(+7%) on $ARB and $159K(+8%) on $PEPE.https://t.co/9Btmdst56T pic.twitter.com/EwsXjIFGdz
— Lookonchain (@lookonchain) November 9, 2023
Of course, it needs to be remembered that PEPE is a ‘pure’ meme token, in that it has no fundamentals or no real adoption prospects to speak of.
As such, there’s nothing supporting its price over the longer term, so it may see above-average dips once whales feel the need to take profits.
Having said that, with the market likely to rally for at least several weeks, PEPE could reach to $0.000003 or $0.000004 before it peaks.
Newer Alts With Strong Fundamentals.
Because PEPE is likely to remain a highly volatile coin, some traders may prefer to turn to alts with more utility and fundamentals.
There are a number of new tokens in the market right now that fit this description, with one of the most interesting of these being Bitcoin ETF Token (BTCETF), an ERC-20 cryptocurrency that will reward holders whenever a Bitcoin exchange-traded fund receives real-world approval.
#BitcoinETF has reached its first major milestone!
Raising more than $100K! pic.twitter.com/od7N5lhaM2
— BTCETF_Token (@BTCETF_Token) November 9, 2023
Bitcoin ETF Token launched its presale only a few days ago, yet it has already raised more than $100,000, a sign of strong interest in the project.
This interest comes from the fact that Bitcoin ETF Token plans to burn 25% of its overall supply (of 2,100,000,000 tokens) over time, with a portion of tokens being destroyed each time a milestone related to Bitcoin ETFs or the BTC price is reached.
Its first move will be to burn 5% of its total supply when the SEC approves the first Bitcoin ETF, while it will reduce its transaction tax – starting at 5% – to 4%.
It plans to implement such changes in response to five related milestones, with the final change related to Bitcoin (BTC) reaching a price of $100,000.
Explaining the fifth and final Milestone for #BitcoinETF. 5⃣
This moment will show Bitcoin’s strength and stability.
When the price of one #Bitcoin closes a daily candle above $100,000, 5% of the total #Token supply will be burned and transaction tax will reduce from 1% to 0%. pic.twitter.com/8nYjTkDl83
— BTCETF_Token (@BTCETF_Token) November 7, 2023
Such moves should make BTCETF deflationary over time, which is the main reason investors have been flocking to the coin’s presale.
Traders can join this presale at the official Bitcoin ETF Token website, where 1 BTCETF token costs $0.005.
This presale price will rise gradually over time until the sale finishes, at which point BTCETF could rise massively once it lists on exchanges..
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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