Source: Dall•E 3
The PEPE price has dropped by 2.6% in the past 24 hours, with its fall to $0.00000137 coming as the market cools down a little after yesterday’s rally.
Despite the dip, PEPE remains up by 30% in a week and by 21% in the last 30 days, with its market cap surpassing $500 million for the first time since early November.
And with the meme token’s 24-hour trading volume remaining high at close to $400 million, it’s likely that PEPE will continue to attract enough interest to mount further rallies in the coming days.
Pepe Price Prediction as Market Cap Surpasses $500 Million – $1 PEPE Incoming?
PEPE’s chart currently looks pretty strong, in that its indicators are pointing towards additional gains.
Most notably, its 30-day moving average (yellow) is very close to crossing above its 200-day average (blue), meaning that it’s set to form a ‘golden cross’ that generally indicates a breakout.
Source: TradingView
At the same time, PEPE’s RSI (purple) remains close to 70, signalling strong buying pressure that’s likely to continue pushing the altcoin’s price up in the next few days.
Supporting such a conclusion is the coin’s trading volume, which suggests that whales continue to accumulate the token in expectation of more price rises.
Yet what traders should be wary of is that, with ‘pure’ meme tokens such as PEPE, whales buy them up only to dump them at a later date.
The price of $PEPE just soared more than 20%.
We noticed that a wallet deposited 794B $PEPE ($1.1M) to #Gateio when the price of $PEPE skyrocketed, making ~$230K.
Subsequently, the price of $PEPE began to fall from the peak.https://t.co/MBLnOSNlSE pic.twitter.com/cLTtCyMpGJ
— Lookonchain (@lookonchain) December 4, 2023
As such, while PEPE is likely to continue rising in general along with the market, investors should be mindful that relatively large dips are likely to be a regular occurrence.
This means that timing remains key, so anyone genuinely interested in PEPE should regularly monitor reliable sources of transfer data.
As for the longer term picture, it’s hard to say whether the PEPE price can reach as high as $1.
Such a target would necessitate a 73,000,000% rise from its current level, a gain that would make PEPE one of the most profitable coins in history.
And the thing with meme tokens is that, if they lack fundamentals and utility, they always run the risk of losing place to another, newer meme coin.
For this reason, the PEPE price may reach $0.0000020 in the next few weeks, but struggle to rise much higher.
New Meme Coins With High Potential
Because PEPE remains a somewhat risky vehicle for profits, some traders may prefer to look at other alts and meme coins that are tied to some kind of utility.
There are a number of coins in the market that fit this description, with Meme Kombat (MK) being one of the most notable.
Meme Kombat is an ERC-20 cryptocurrency that has raised over $2.4 million in its ongoing presale.
We did it fighters!
We reached $2.4 million raised in the $MK presale $100k to go for the Limited Edition Meme Kombat NFTs! pic.twitter.com/j6ItGkYabw
— Meme Kombat (@Meme_Kombat) December 4, 2023
Set to launch in the coming weeks, Meme Kombat is difference from run-of-the-mill meme coins in that it’s also a platform that enables users to bet on AI-generated meme battles.
It renders such battles in real-time using colorful graphics, providing users with an entertaining focus for their bets, which they can place against each other or against the game itself.
As a blockchain-based platform, battles will be processed on-chain, making them transparent and fair.
Users who win bets receive their rewards in the form of MK, which they can also stake in order to earn a passive income.
This makes Meme Kombat a potentially very profitable platform, which helps to explain why its sale is already doing so well.
We are super grateful to each and every one of you for helping us get to 5000 members in the Telegram group
Congrats memers! pic.twitter.com/ke0ZqaTODI
— Meme Kombat (@Meme_Kombat) December 4, 2023
New buyers can join the presale by going to the Meme Kombat official website, where 1 MK token now costs $0.0225.
This will rise to $0.0235 in three days, giving investors a limited amount of time if they want to acquire this exciting new coin at its lowest available price.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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