What’s Next for PEPE? A Price Increase of 20% or a Price Decrease of 25%?
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- PEPE has overtaken BTC and hit a new high.
- Bulls failed to stop a short-term decline.
You can also read more about: The word “meme” is a good example. This market cycle reveals more of the “supercycle narrative”. Memes’ performance on price charts is explosive.
In the first half of the month Pepe [PEPE] outperformed Bitcoin BTC is up 2%, but the underlying currency is up +65%. [BTC]PEPE’s May rally was more than halved in the last two days following GameStop’s (GME) wild ride.
The rally is a great way to get involved in the community. .Can the bulls go even further with this explosive rally?
PEPE Price Prediction: Bulls’ Game Plan Possible After New ATH
Pepe Price Prediction
On the daily chart, a Fibonacci retracement (yellow) between the lowest prices of 2024 and the previous high ($0.00001084).
As the ascending line (white) shows, the frog meme has been recovering steadily but slowly since mid-April.
The uptrend to a new ATH reversed the losses of Q1 and part of Q2. The majority of holders were able to book their profits as they had unrealized gains.
PEPE recorded two price rejections (white) at the top of the ascending channel. This suggests that some traders, including
whales have booked profits.PEPE had a bullish structure in the market, so another bounce from $0.000013 would bring an additional 21% gain.
If more PEPE holders decide to take advantage of current market prices, PEPE price could fall. In this scenario, the mid-range, range low, and 23.6% Fib placeholder could be crucial for late buyers.
Pepe Price Prediction: Why a 25% Price Drop Cannot Be Canceled
Pepe Price Prediction
An unforeseen bearish scenario could pull PEPE 25% based on liquidation levels.
According to Hyblock Capital’s 7-day liquidation heatmap, the $0.08 zone was a key magnetic zone (orange).
A massive price drop could send the price to the $0.08 area, which coincides with the 23.6% Fib placeholder on the price chart. This is a potential 25% drop from press time levels.
PEPE Price Prediction
Coinglass’s long/short ratio showed that the market sentiment for PEPE was still bullish. Since May 7, many traders have placed PEPE long.
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The percentage of traders placed long increased from 47% to 50.6% on May 15 (midday Asian trading), indicating a bullish sentiment in the short term.
PEPE could rise another 20% if the bullish sentiment continues. A 25% price drop is non-negotiable if the market turns pessimistic.
