By CryptoNews - 3 months ago - Reading Time: 3 minutes
Pepe Price Prediction as PEPE Global Ranking Falls to 130 – Will PEPE Rise Again?
The Pepe price has slumped to $0.000001015 today, falling by 7% as the cryptocurrency market as a whole drops by 5% in the past 24 hours.
PEPE has now fallen by 16% in a week and by 27.5% in the last 30 days, with the meme coin also having lost 76.5% since reaching an all-time high of $0.000004307 in May 2023.
Such is PEPE’s decline in recent months that the coin now stands at 130th in terms of market cap, down from 58th last May.
This may signal a long-term, terminal decline on PEPE’s part, yet given its appeal to whales as an easy vehicle for quick gains, it may rise again sooner or later.
Pepe Price Prediction as PEPE Global Ranking Falls to 130 – Will PEPE Rise Again?
PEPE’s chart shows that the coin has lost a serious amount of momentum in the past couple of months, with more pain likely in the near future.
Its relative strength index (purple) has fallen below 40 in the past couple of days and looks like it’s on its way to 30, if not lower.
Source: TradingViewIf that weren’t bad enough, PEPE’s 30-day average (yellow) is on the brink of dropping below its 200-day average (blue), forming a ‘death cross’ that can often signal steep incoming losses.
It therefore doesn’t look good, with PEPE’s support level (green) falling hard since early December.
The coin’s volume also looks grim, standing at only $70 million, after periods in previous months where it rose as high as $1.5 billion.
This would imply a nearly complete loss of interest in PEPE on the part of traders and whales.
Indeed, the last recorded PEPE transfer of significant size happened on January 12, when a whale sent around 2 trillion PEPE to Binance.
A whale deposited 2T $PEPE ($2.74M) to #Binance 5 hours ago.
The whale spent 920 $stETH($1.55M) and 253 $WETH($480K) to buy 2.01T $PEPE between May 5, 2023, and Sept 10, 2023.
Selling now will make a profit of ~$705K.https://t.co/9zRGywTADp pic.twitter.com/eiACLHvrdD
— Lookonchain (@lookonchain) January 12, 2024
This was almost certainly a prelude to a sale on the part of the above whale, with few signs since of any big trader accumulating the coin.
As such, it would be misleading to suggest that the Pepe price is due to make a real comeback soon, with all available signs looking negative.
Having said that, the wider market is itself currently going through a rough patch, with traders taking profits in the wake of the SEC’s approval of 11 Bitcoin ETFs.
But if the market does become more bullish in the coming months, PEPE could certainly make a recovery, potentially returning to $0.0000020 by the summer.
Newer Meme Tokens for Bigger Rallies
In the event that PEPE may never get close to its current ATH again, many traders may prefer to look at newer meme coins, particularly those holding presales and getting ready to list.
One particularly popular coin doing this right now is Meme Kombat (MK), an ERC-20 token that has raised $7.3 million in its ongoing presale.
A few big buys came into the presale over the last day
Let's keep pushing to $8 million pic.twitter.com/4N6I2M6VCw
— Meme Kombat (@Meme_Kombat) January 21, 2024
More than just a meme coin, Meme Kombat is also a social gambling platform that lets you bet on the results of AI-generated battles between memes.
It will randomize battle outcomes using AI, with results processed transparently on the Ethereum blockchain.
Users can wager against each other, with bets placed using the native MK token, and with rewards paid out in the same token.
On top of this, MK holders can stake the token, which has a max supply of 120 million.
This all potentially makes Meme Kombat a very profitable platform, which perhaps explains why its presale has already done so well.
New investors can join by visiting the official Meme Kombat website, where they can buy MK at a final presale price of $0.279 per token.
And once the sale reaches its hard cap of $10 million, the token will list on exchanges, at which point it could rally very strongly.
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Original source: CryptoNews