In the last 24 hours, the price of PEPE has increased by 1%, edging closer to $0.000005576 on a day when the cryptocurrency market has gained 4%.
The meme currency has dropped by 25% in the last week and by 34% in the last thirty days, so this modest comeback is insufficient to undo PEPE's losses from the previous week.
While some would view these drops negatively, traders might take advantage of them to purchase the coin at a lower price than they have in the past.
Furthermore, the PEPE price may rise once more this week as the market is expected to get more optimistic.
Pepe Price Forecast: Is This a Dip-Buying Opportunity as PEPE Drops 30% Before Bouncing?
PEPE appears to be prepared to rise once more and stay high for some time after reaching a low point during the weekend.
Although it zigzagged its way back up to 60 today, its relative strength index (purple) dipped below 20 late on Friday and then again on Saturday.
In parallel, its orange 30-day average had leveled down in the wee hours of the morning before starting to rise once more in the last few of hours.
This could mean that the coin is starting to acquire traction again and draw purchasers, who might be drawn in by the current price reduction.
After hovering at (or around) $500 million for the most of previous week, its trading volume has also increased in the last day, reaching approximately $1 billion.
This implies that bigger traders might have come back to the meme currency, even if many of the well-known whales who had been accumulating PEPE in the previous few weeks and months haven't started buying again after offloading their holdings.
PEPE is still a well-liked vehicle for fast gains and surges, so when the market turns more positive, it's conceivable that the coin will see gains that might be excessive.
This has given the market a boost, and this week's anticipated Bitcoin halving, which will place on Saturday, may further increase interest.
In general, the Federal Reserve's decision to lower interest rates may also help in the upcoming year, increasing demand for riskier assets like cryptocurrencies.
The price of PEPE is expected to increase concurrently, with a potential resurgence to $0.000010 in the upcoming months.
Fresh Altcoins Based on Principles
Although PEPE occasionally has the potential to see significant rallies, some traders may find it to be a bit erratic and volatile.
They might therefore choose to focus on other alts that have better foundations and greater value.
An upcoming decentralized virtual reality game platform called 5th Scape (5SCAPE) is one of the most recent and promising examples of this.
A few weeks ago, 5th Scape launched its presale, and since then, it has raised more than $5 million.
Investors have been enthused by 5th Scape's intentions to create a VR gaming ecosystem powered by cryptocurrencies, and it runs on Ethereum.
It will go live in the coming weeks, and there are already a ton of intriguing games planned.
These include the racing game Thrust Hunter, the online fighter Cage Conquest, and the FIFA challenger Immersive Kickoff.
All of these games will be cooperative, with 5th Scape hoping to create a vibrant community around
As part of its launch, it will also offer a VR chair and headset of its own, which will further enhance immersion.
With a maximum supply of 5.21 billion, the native token 5SCAPE will be used as the payment token for the 5th Scape ecosystem and its games.
The goal of its presale is to raise $15 million, and 80% of its total supply will go into the sale (10% will go for development and 10% toward liquidity).
A 5SCAPE coin costs $0.00327 on the official 5th Scape website, where investors can purchase them early.
April 2024, Cryptoniteuae