Pepe Coin’s value has risen by 15% in the past day, hitting $0.00000124. This places it as the leading meme token with the highest growth.
Yet, even with this recent increase, PEPE has gone down by 1.5% over the last week and 15% in the last month. Since its peak at $0.00000431 in May, the altcoin has lost 71% of its value.
The increase in PEPE’s value today might be seen as a late improvement for the coin. It continues to be influenced by major investors and whales, leading to potential additional gains before facing another decrease.
PEPE has lately shown a rally following a consistent decline in the past few weeks. This could imply that its technical indicators are picking up momentum. The relative strength index (RSI) for PEPE has gone up from about 30 yesterday to just above 60 today. This rising momentum suggests there’s space for more upward movement before RSI hits the overbought mark of 70, indicating the coin isn’t excessively bought.
PEPE Coin’s Future Ahead!
Similarly, PEPE Coin’s 30-day moving average recently hit a low compared to its 200-day average. But now, it’s starting to rise and seems likely to continue that trend over the long term. Many suggest that PEPE might have been undervalued and oversold for a while, and it could be on the brink of a substantial upward movement.
However, experts caution that PEPE might experience a sharp drop even before its technical indicators show it’s becoming ‘overbought’. One key reason behind PEPE’s turbulent price changes lately is that it’s been used for short-term profits by bigger investors, causing them to sell it soon after buying.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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