Pepe Coin Price Prediction as PEPE Still 7000% Above Its Initial Value

Pathik Bhattacharya
Pathik Bhattacharya
Published on May 17, 2023 03:23 PM

Given the huge trading volume, PEPE is likely to witness similar rises in the future, especially if it wins any other major exchange listings.

Pepe Coin Price Prediction as PEPE Still 7000% Above Its Initial Value
Source: Unsplash

Pepe coin price prediction reveals that PEPE is still in its memecoin supremacy and investors are still putting funds into it. PepeCoin, named after a frog named 'Pepe' who frequently appears in online memes, soared about 7,000 percent in the 17 days following its April 16 introduction, reaching a market value of $1.8 billion by May 5.

Pepe coin, named after a frog popular in internet memes, debuted last month, with overall trading volumes increasing to $2.6 billion in the first week of May from $408,000 the previous week, according to Dune Analytics data.

However, the price of a Pepe coin, which is worth fractions of a cent, was down 60% from its May 5 peak on Monday. It still has a market valuation of about $740 million, ranking it third after Dogecoin and Shiba Inu. Let's see how Pepe Coin price prediction will go from here.

Pepe Coin Price Prediction as PEPE Becomes the Third Most Traded Memecoin

Pepe coin soon became the voice of hundreds of meme tokens in crypto world as it was the first memecoin not representing a Shiba dog or related animal species. 

It may come as a surprise that PEPE has been dropping through a number of support levels in recent days, indicating that it has not yet bottomed out. Nonetheless, its potential to become the second-most traded meme token demonstrates how, having started from nothing around a month ago, it has now established itself as a prominent altcoin.

It keeps grabbing the interest of whales, with some stockpiling the cryptocurrency at a discount in the hope that it will rise again shortly.

The recent listing on Karaken Pro may have a huge impact on the Pepe coin's price as Kraken is one of the most used crypto exchange in the world with over 9 Million users. Minimum order size of 500,000 and a Minimum deposit of 2,000,000 Pepe, users can trade Pepe coin. However, due to high crypto regulations and scrutiny, the trading has been restricted on Canada and US exchanges.

Pepe Coin Price Prediction Price Analysis

At the press time, Pepe (PEPE) is trading at $0.00000154, with a 24-hour trading volume of $221,594,433. This indicates a -7.91% drop in the previous 24 hours and a -20.53% down in the last 7 days. Pepe has a market valuation of $647,064,590 and a circulation supply of 420 Trillion PEPE.

The PEPE price action is making a declining pattern which has been tested as a resistance to certain price peaks. According to Pepe coin price prediction, this trading pattern indicates a possible upturn after prices break from the inclined top and rages to make long green candles.

The 14-Day RSI is keep hitting the bottom pointing towards a bearish pressure dominating the market. Along with it, the flatness of MACD is subjected to neutrality which indicates that Bears and Bulls are equally participating at the moment.

pepe coin price chart

Source: TradingView

However, Market participants have warned that memecoins might cause serious problems for dealers and investors. They say that they have no practical utility other than speculation, which distinguishes them from more mainstream currencies like as bitcoin and ether.

Binance has cautioned its consumers about the unpredictability of dealing with Pepe coin, which has no utility.

About Pepe Coin

PEPE is a memecoin that was created on the Ethereum network. The token, which was inspired by the well-known Pepe the Frog mascot, swiftly gained popularity after its introduction in April 2023. Pepe touts itself as a people-focused digital asset with the goal of challenging the dominance of Inu-themed memecoins.

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