Pepe’s price mirrors the broader market’s corrective phase, finding itself at a critical support threshold.
Yet, the narrative from this juncture could take a positive turn, buoyed by investor confidence that remains steadfast.
Pepe Investors Hold Steady
Despite a 26% drop recently, Pepe’s outlook appears geared towards recovery, driven by investor optimism. This sentiment is captured by the transition of tokens from short-term to mid-term holders, indicating a deeper commitment to holding onto their investments for potential future gains.
Currently, an impressive 36 trillion PEPE, valued at over $232 million, has transitioned from the hands of short-term investors—who typically hold for less than 30 days—to mid-term holders, who retain their assets for one month to a year.
This significant shift reflects a growing investor belief in the meme coin’s prospects.
The confidence is not limited to retail investors alone. Crypto whales have also shown their bullish stance, amassing nearly 4 trillion PEPE, approximately worth $26 million, in the past day.
This collective investor support forms a strong bulwark against further declines.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
PEPE Price Prediction: All-Time Highs
Currently trading at $0.00000644, Pepe is delicately poised just above the vital $0.00000633 support line. This is a boundary that has consistently held firm over the last month.
With investor bullishness and positive signals from the Ichimoku cloud, which hints at a bullish trend when positioned below the candlesticks, Pepe is positioned for a potential rebound.
This setup could propel Pepe’s price past $0.00000826 and even toward a new all-time high of $0.00001000.
Read More: Pepe (PEPE) Price Prediction 2024/2025/2030
Should Pepe break through its current support, however, it may trigger a corrective phase, challenging the bullish outlook and potentially pushing the price down to the next support level at $0.00000474.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
