Pepe’s recent drop in trading volume raises concerns, but recovery potential remains as the price stays close to the $0.0575 support level.
Some analysts believe Pepe could be poised for a significant 10x rally in the near future. From a technical analysis perspective, it’s worth examining the key levels and potential trades for the upcoming weeks and months.
This update offers insight into the recent price movements and market trends for Pepe, shedding light on what may lie ahead.
At the time of writing, Pepe shows a 4.63% price increase, bringing it to $0.057327. The market cap stands at $3.08 billion, reflecting the same percentage increase.
However, trading volume has significantly dropped by 17.67% to $406.8 million, highlighting a reduction in trading activity compared to the previous day. This marks a sharp decline for a coin that still ranks as the 15th most traded asset in the crypto market.
Despite the drop, Pepe remains a prominent asset, continuing to attract notable trading interest. Pepe’s weekly and daily charts reveal a bullish outlook from a macro perspective, with several key levels standing out, including the lower low, higher low, and the most recent macro higher low.
A new macro higher low has yet to be confirmed. Breaking above Pepe’s all-time high would solidify this higher low, potentially sparking more bullish momentum. The chart shows a falling wedge pattern, often indicating bullish potential. The upper resistance and lower support trendlines form the wedge.
While the asset continues testing its support, it’s important to note that frequent tests of support can weaken it. If Pepe breaks below this trendline, it could signal further downward movement, presenting an opportunity for accumulation at lower price levels.
Traders aiming to capitalize on the current market structure should consider dollar cost averaging (DCA), purchasing Pepe incrementally at lower levels as the price declines. This strategy allows traders to build a strong position for future gains.
Given Pepe’s bullish macro structure, accumulating at these levels could prove profitable during an anticipated altcoin season in the coming months. If bullish momentum returns, Pepe’s falling wedge could break upward, leading to significant gains.
Traders should watch the 3-day and 4-hour volume-weighted average price bands, as breaking these could indicate a strong upward move. A potential 133% gain exists if the wedge breaks, offering lucrative opportunities for futures traders.
If you’re looking for investment opportunities that could offer big returns and increase in value during the next bull run, check out our guide here for the best crypto presales of 2024.
Memebet (MEMEBET) has made a strong entrance, raising over $200,000 for its new Telegram-based betting platform, where users can wager with meme coins for the first time. The $MEMEBET token ICO started at $0.025, and early buyers can claim their tokens right away.
As the project moves into its second funding phase, the token price will increase within the next 17 hours. Those interested in the presale should act fast.
Along with the investment potential of $MEMEBET, contributors have a chance to win part of the 400 million $MEMEBET tokens set aside for airdrops. Season 1 of the airdrops runs during the presale, rewarding users who buy and wager with $MEMEBET.
In Season 2, users betting with meme coins will receive rewards. A large amount of Memebet’s token supply is reserved to ensure consistent rewards for players.
We were prepping for a weekend of absolute mayhem at the casino, the kind of wild ride where you don’t sleep, you just keep moving.
First stop: presale, no turning back now.
Buy now 👇 https://t.co/cY4p8PqXzg pic.twitter.com/FXExjVZbBW
— MemeBet (@Memebetcasino) September 12, 2024
Memebet Casino lets users bet with their favorite meme coins, mixing meme coins with casino games. It has many games like slots, table games, and sports betting. The platform is no-KYC, making gambling easy through Telegram.
The $MEMEBET token drives everything at Memebet. Using $MEMEBET tokens unlocks various benefits, including airdrop rewards, special bonuses, and access to exclusive features like Memebet Casino Lootboxes and the Degen VIP community.
To join, users can use MetaMask or Best Wallet to swap ETH or USDT. Purchases on Ethereum are instantly available in wallets, while tokens on BNB Chain and Polygon will be released later. Bank card purchases are accepted, but tokens are sent to Ethereum wallets, so users must ensure they have one.
To view tokens, users should add the $MEMEBET address to their wallet. Wagering with $MEMEBET in Memebet Casino will help earn airdrop points.
Coinsult completed a full audit of Memebet Casino, showing its strong focus on security and transparency. Memebet also keeps itself in the spotlight by creatively sponsoring Argentina’s national soccer team. To participate in the $MEMEBET token presale, go to memebettoken.com.
The post PEPE Price Prediction – Could This Frog Meme Coin Deliver a 10x Return by the End of 2024? appeared first on ReadWrite.
