The Pepe price has dropped by 5% in the past 24 hours, declining to $0.000007554 as the wider crypto market suffers a 4% loss today.
Despite this fall, PEPE remains up by an impressive 55% in the past week, and while it’s down by 10% in a month, it’s also up by 3,000% in the past year.
Today’s correction has provided traders with an opportunity to buy the dip, with one whale actually snapping up $1.5 million in PEPE yesterday.
This suggests an expectation of incoming rallies, and with the coin bottoming out in the past 24 hours, it could be about to rise again.
Pepe Price Prediction as Unknown Whale Starts Accumulating $1.5 Million Worth of PEPE – Big News Coming?
After showing a dip in the past few days, PEPE’s indicators are beginning to regain momentum, suggesting that we may see a rally very soon.
Its relative strength index (purple) has risen from just under 40 yesterday to around 55 today, a sign of buying pressure.
Source: TradingView
At the same time, its 30-day average (orange) has halted yesterday’s decline and has just begun rising again, putting more distance between itself and the 200-day average (blue).
This signals that the coin remains in a growth phase, one also indicated by the fact that PEPE’s trading has risen to $1.5 billion in the past day.
This has something to do with the whale purchase mentioned above, with one larger trader accumulating around 211 billion PEPE over several purchases yesterday.
Whale 0x803 (linked to “rektdolphin.eth”) has been steadily accumulating 211.6B $PEPE (now $1.72M) in the past 24 hours, as the price surged back by 17%!
Notably, the whale:
• accumulated PEPE from #Binance, #Gateio, and #Uniswap at ~$0.000007291 (est. cost: $1.54M), now making… pic.twitter.com/1mcZAIi8F2
— Spot On Chain (@spotonchain) April 24, 2024
This suggests that smart money expects PEPE to return to growth over the coming weeks, particularly as the wider market weathers its current troubles (e.g. under-pressure miners, Changpeng Zhao’s potential three-year prison sentence) and becomes more bullish.
The market is currently waiting for monetary policy to soften, and while this may take several more months, the combination of rate cuts and the deflationary narrative surrounding the halving may help increase bullishness.
In such a context, PEPE could be one of the biggest beneficiaries among established meme coins, given that it remains one of the vehicles of choice for whales.
It could potentially reach $0.00001 by the summer, before closing the year at around $0.00002.
Newer High-Potential Altcoins May Outperform
PEPE is always one to watch for big rallies (often followed by big falls), yet traders looking for quicker turnarounds may prefer to look at newer coins.
There are various promising new presale tokens in the market right now, with the best of these often rallying big once they list.
One such token with the potential to do this is DICE, the native token of the popular crypto casino Mega Dice.
Mega Dice is one of the most reputable and popular online casinos in crypto, with its website offering over 4,500 games to play and bet on, from casino classics to sports betting.
Building on its current position, Mega Dice is now in the process of launching the Solana-based DICE, which has raised more than $500,000 in its presale.
$DICE has raised over $500,000 in presale so far!
Thank you to each and every one of you for being part of our journey!
Next up, $1 million! pic.twitter.com/N94CDeHBOh
— Mega Dice Casino (@megadice) April 25, 2024
Given that the sale hasn’t been running for long, this figure is impressive, showing that investors are attracted by the token’s strong utility.
For example, DICE will be usable as a payment token for games on Mega Dice’s platform, and it will provide exclusive access to certain games and promotions.
It bullishly has a fixed supply of 420 million tokens, a limit which is made more bullish by the fact that traders can also stake it.
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In theory, such a combination could make DICE a deflationary token, pushing up its price over time, particularly as Mega Dice continues to grow as an online casino.
New investors can join its presale by going to the Mega Dice website, where 1 DICE token costs $0.069.
This price could potentially rise much higher once the token lists in a few weeks, and there’s no telling how high it could rise within one or two years.
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