Pepe Coin Price Prediction – Will October Be the Start of a Bullish Rally for $PEPE?

Pepe, one of the major cryptocurrency coins, is currently experiencing a major decline, having fallen by 21% over the past seven days. This weakness comes amid a broader market downturn, with Bitcoin Drop below $60k.

Inspired by the popular Pepe the Frog character, $PEPE has gained massive popularity among a wide range of investors. The Ethereum-based meme coin has quickly risen to become the third-largest coin in its category, with a market cap of around $3.3 billion.

Despite its early success, PEPE has faced challenges as its price has come under significant downward pressure. Although market sentiment remains cautious due to low retail interest, optimism remains for a potential recovery.

$PEPE cryptocurrency price prediction

Pepe is now priced at $0.00000756, having dropped more than 55% from its peak. It has seen a 24-hour trading volume of $354.08 million and a slight increase of 0.58% in the past day. The 14-day Relative Strength Index (RSI) for $PEPE is at 43.34, indicating a neutral stance.

Despite the significant drop from its all-time high market cap of $7 billion, Pepe has room to grow, unlike other established meme coins like Doge and Shiba.

The potential for a 2x to 3x return is realistic if market conditions improve, especially with October approaching which has been historically bullish. However, if $PEPE fails to hold current support levels, it could lead to further declines.

For a comprehensive Pepe price movement forecast, watch the video above and follow its instructions. YouTube channelAdditionally, join Jacob Crypto Bury Discord server For trading tips and latest news about Upcoming cryptocurrency sales.

Whale activity surges as major investors pile into PEPE funds amid market challenges

Despite recent declines in profitability and a challenging market environment, significant whale activity has been observed, indicating that large investors are buying Pepe coins at lower prices.

Wallet related to #Seifo 1.48T pulled baby($11.6 million) from #Binance now.https://t.co/H9anq20RUY pic.twitter.com/TTq3BVtVoo

— Luke Chain (@lookonchain) August 29, 2024

Lookonchain reported that an address linked to Ceffu held $1.48 trillion worth of PEPE worth over $11.6 million from Binance. Additionally, another whale, who previously received $1.77 million in $PEPE, spent $1.34 million in $USDC to buy more Pepe coins.

This activity underscores the growing interest in $PEPE from institutional investors preparing for the potential Alternative currency The current season reflects continued enthusiasm among experienced traders despite a cautious broader market.

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