After tumbling drastically, the $PEPE coin has regained some momentum to trade in green momentarily on Wednesday. The coin entered the chart of top gainers, according to data from CoinMarketCap, after multiple choppy trading sessions. The momentum raised questions if this week could finally see a rise in the prices of $PEPE.
$PEPE Coin Rises Over 12%
After trading in the negative territory during the early trading day, the $PEPE coin rose over 12% to trade at $0.00001378. The famous frog-based coin has seen a downfall of over 3.8% in the past seven days, according to recent data. However, Wednesday’s trading session has been some relief for the pressured trading of the coin.
The price of Pepe Coin ($PEPE) reached an all-time high in May 2024, attracting the attention of investors worldwide. The celebrations, however, were short-lived as the value of the coin saw sharp declines, falling by roughly 20% following the first weekend in June. While some analysts are cautiously hopeful about these coins’ future, eager investors are shifting their focus to new cryptocurrency projects that are ready to launch.
Will $PEPE Rise In the Future?
The technical analysis of Pepe coin’s price prediction for 2024 indicates that $0.0000432 is anticipated to be the average trading price for the coin. The Fear & Greed Index is currently reading 72 (Greed), according to technical indicators, and the sentiment is Neutral. Over the previous 30 days, Pepe Coin had 13/30 (43%) green days and 16.78% price volatility.
However, a year-end rise for the coin is still on the cards for many analysts, if the coin breaks the current spell of dampened market trading. As of right now, the price projection for Pepe Coin in 2025 is from $0.00001298 on the low end to $0.00006229 on the high end. If PEPE hits the higher price objective, Pepe Coin’s value relative to its current price by 2025 might increase by 360.80%.
$PEPE was one of the top-performing cryptocurrencies from the previous year. Almost a thousand percent has been added to the asset’s valuation since its inception in April 2023. With a frog motif, the memecoin shot to the top of the charts and is currently ranked 21st in terms of market capitalization.
The PEPE market’s wealthiest investors’ continued accumulation and holding behavior provide optimistic signs for the price rise hypothesis. For example, during the June price adjustment, the Pepe supply held by entities with at least 1 billion $PEPE coins (yellow) stayed largely unchanged. Entities who have held 100 million–1 billion PEPE coins (red) throughout June exhibit similar holding behavior, suggesting that the largest investors or institutions have adopted a long-term holding strategy.
