Pepe’s volumes in the past few days have exploded above $1 billion as Ethereum (ETH) nears $5,000. This favors a bullish PEPE price prediction that sees the token delivering huge gains in the short term.
After hitting a recent low of $479 million on August 6, trading volumes in the spot market for PEPE have been steadily surging and closed yesterday at $1.4 billion, accounting for as much as 28% of the token’s circulating market cap.
This shows how strong buying pressure is at a time when this meme coin is approaching the $0.00001200 area.
Despite these large volumes, PEPE has delivered a 30-day loss of 1.95%. At this point, the market may be in an accumulation phase, as whales could be positioning themselves for the next explosive move upwards.
As an ERC-20 token, PEPE benefits from the positive performance of Ethereum (ETH) as this drives higher volumes to the Ethereum ecosystem.
With ETH already nearing a new all-time high, Pepe could be about to experience a strong boost as altcoin season kicks off.
Pepe Price Prediction: PEPE Trend Line Supports Hold – 194% Gain In Sight?
The daily chart supports a bullish Pepe price prediction as a strong trend line support has held up again during the latest downturn.
PEPE has bounced cleanly off key support and now looks set to climb toward $0.00001500 as bullish momentum builds fast.
The Relative Strength Index (RSI) has pushed above the mid-line, just as trading volumes rise above the 14-day average. This is a strong signal of growing buyer interest.
With PEPE still sitting below its recent highs, this moment could be a golden entry point before the next leg up.
If the $0.00001500 resistance flips to support, PEPE could surge by 194% in the near term, with $0.000035 emerging as the next major target.
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The post Pepe Price Prediction: PEPE Explodes With Ethereum Rally – Is This the First Step Toward a 100x Run? appeared first on Cryptonews.
