The Pepe price has fallen by 4.5% in the past 24 hours, sinking to $0.00001365 after reaching a new all-time high of $0.00001526 yesterday.
Given its recent performance, the meme coin remains up by a very healthy 37% in a week and by 74% in a month, making it the best-performing top-100 token over these timeframes.
PEPE has also gained by a massive 820% in a month, indicating some very strong long-term momentum that should kick in again once today’s dip has played out.
And with the wider market likely to become increasingly bullish amid the approval of ETH ETFs yesterday, the Pepe price could reach a new ATH very soon.
Pepe Price Prediction as PEPE Dips From Recent High – Next Leg Up Starting Soon?
After pushing hard at the beginning of the week, it does seem that PEPE is currently running out of momentum, with its indicators pointing to an ongoing correction.
Its relative strength index (purple) has fallen from 70 earlier this morning to nearly 40 as of writing, and it could continue to decline over the next day or so.
Source: TradingView
Perhaps more worryingly, the coin’s 30-day average (orange) has begun dropping downwards after spending several days rising aggressively beyond the 200-day (blue), which it may now be on course to fall below.
It’s certainly possible that, after reaching several new record highs over the past few days, PEPE could suffer a sustained correction lasting a week or so.
Having said that, its volumes remain close to record highs at around $2.4 billion, with some whales still accumulating the token in the past 24 hours.
The whale withdrew 390.56B $PEPE($5.54M) from #Binance again 3 hours ago.
In less than 2 days, this whale bought 982.56B $PEPE($13.6M)!https://t.co/8NNLKRdIKW pic.twitter.com/zc0Jvx9hIT
— Lookonchain (@lookonchain) May 23, 2024
It’s therefore entirely possible that, with demand and interest still pretty high, the PEPE price will recover soon and potentially break its record high yet again.
What’s particularly bullish for the meme token and the market as a whole is that yesterday saw the SEC approve eight Ethereum ETFs.
Such ETFs are likely to launch next month, at which point they’ll bring new demand and volume to Ethereum and, by extension, the wider market.
This will help to increase bullishness across the board, including for PEPE, which is not only an Ethereum-based token, but has remained a vehicle of choice for whales for well over a year now.
If you’re holding any memecoin other than pepe, eth etf being approved next week is your worst nightmare
— Chiefing (@chiefingza) May 16, 2024
As such, we could see the Pepe price rise to $0.0000150 in the next few weeks, before reaching $0.000020 by Q4.
Diversification into New Altcoins for Big Returns
There’s a risk that, because it has already hit new highs several times this week, PEPE may correct and then not do much over the next few weeks.
Fortunately, there’s a range of new meme coins entering the market right now, with several holding their presales and generating considerable momentum.
One of these is WienerAI (WAI), a new Ethereum-based cryptocurrency that has raised more than $2.7 million in its hugely popular sale.
WienerAI is more than a trading bot
It’s your AI trading companion!
More details coming SOON! pic.twitter.com/HG5C0tE6Rk
— WienerAI (@WienerDogAI) May 14, 2024
WienerAI may have a cutesy sausage dog as its meme, yet it has been attracting attention because it will launch an eponymous AI-based trading bot.
As such a both, WienerAI will answer queries from traders, recommending high-potential coins before they rally big and therefore helping investors to stay ahead of the market.
Helping in this respect will be its atomic swap feature, which means that traders who receive recommendations for a particular coin from WienerAI can use the app to quickly buy it.
Another strong feature is its MEV protection, which helps users to complete trades ahead of front-running bots.
Taken together, this gives WAI lots of utility as a native token, with demand for the coin likely to increase in parallel with the growth of WienerAI as an app.
It will have a max supply 69 billion tokens, potentially making it deflationary over time.
Holders will also be able to stake token, earning themselves a passive income while they wait for WAI to make gains.
Interested investors can join the coin’s sale by going to the official WienerAI website, where 1 WAI currently costs $0.00071.
The sale will end in the next few weeks, at which point WAI may surge when it lists on exchanges.
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