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The PEPE price has dropped by as much as 17% overnight, falling to $0.000008854 as the broader market experiences a significant decline.
Despite this correction, PEPE remains up by 6% over the past week and by 690% over the last 30 days. The token is currently only 16% down from its all-time high of $0.00001064, which it set yesterday.
Given that today’s loss is largely the result of profit-taking by traders, PEPE has a strong chance of rebounding soon.
As the market continues to show bullish sentiment, the meme token could even break its new all-time high in the coming weeks.
Pepe Price Prediction: PEPE Drops 17% Overnight – What’s Driving the Move?
Although PEPE experienced a sharp overnight decline, its chart and technical indicators suggest that this may be a favorable time to buy.
Notably, its Relative Strength Index (shown in purple) has resumed rising after nearly hitting rock bottom (30) in the early hours of this morning.
Source: TradingView
In other words, the indicator suggests a recovery is underway, even though its 30-day average (shown in yellow) is still trending downward.
However, this downward trend in the average is arguably offset by PEPE’s support level (shown in green), which remains rising and prevented the coin from falling too far last night.
At the same time, PEPE’s 24-hour trading volume remains close to $2.5 billion, indicating substantial ongoing interest in the token.
This guy spent only $3,000 to buy 4.9T $PEPE ($35.5M currently) in the early stages!
He sold 760B $PEPE ($2M) and currently holds 4.15T $PEPE ($30.8M), making him the 13th largest holder of $PEPE!
His total profit on $PEPE is ~$32.8M, a gain of 11,077x! https://t.co/QTL7oxruTk pic.twitter.com/sw2FcPfgdd
— Lookonchain (@lookonchain) March 4, 2024
It is likely that whales who previously bought the coin have taken some profits in the past day or so. However, PEPE has not fallen harder than many other altcoins and meme coins.
As such, a rebound is likely soon, with the overall market sentiment remaining positive.
This optimism is largely driven by rising Bitcoin ETF volumes, with the possibility of Ethereum ETFs approval and the approaching Bitcoin halving also improving the broader market picture.
The PEPE price could easily set a new all-time high in the next few weeks, with potential to reach $0.000020 by the second half of the year.
24 hour market update – $PEPE
TL;DR – $BTC weakness has caused an asset class-wide dip. $PEPE made a new ATH with record high funding rates which have now reset to a level which is low in the context of its pump (bullish).
Points to be aware of;
– $PEPE price has been leading… pic.twitter.com/dFFhYx5mmg
— Exponential Research (@ExpoResearch) March 15, 2024
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As a meme token with weak fundamentals, it will always have a tendency to drop suddenly. However, the medium- and long-term trajectory of the market should help push it higher overall.
New Meme Tokens Bring Greater Potential
Given that PEPE is now a well-established coin, some traders may prefer to diversify into newer, smaller-cap meme tokens, especially those poised to rally as they list on new exchanges.
This includes coins that have recently launched their own presales, with one of the most interesting in this category being the new Ethereum-based meme token Dogecoin20 (DOGE20).
It launched its presale only yesterday, yet it has already raised over $280,000 as it attracts more investors.
#Dogecoin is a beloved token but has been limited in its potential future worth because it has an infinite supply that will always emit more #Tokens into the market.
#DOGE20 fixes this with a fixed supply, allowing for unhindered upward pressure on the token price.
pic.twitter.com/MvnjTeVdhp
— Dogecoin20 (@DOGE_COIN20) March 15, 2024
#Dogecoin is a beloved token but has been limited in its potential future worth because it has an infinite supply that will always emit more #Tokens into the market. 
The reason Dogecoin20 is so exciting is that it takes the basic appeal of meme coins such as DOGE and combines it with a bullish staking system, a hard-capped supply, and a commitment to supporting charitable causes.
As an Ethereum-based coin, it will enable staking, with its protocol providing greater rewards to holders who stake early and for longer periods.
Another interesting feature is that it will regularly distribute a portion of its supply to charitable causes, as well as to projects within its own community.
The aim of this is to encourage greater engagement and commitment to its development, which in the long run can only help it grow.
It is also worth noting that, unlike the infinitely inflationary Dogecoin, DOGE20 has limited itself to a maximum supply of 140 billion tokens.
How is #Dogecoin20 different from #Dogecoin?
$DOGE20 is part of the #DOGE family of #Memecoins but it adds more utility and value for holders by introducing staking on #Ethereum for passive rewards.
The ’20’ in Dogecoin20 stands for ‘ERC-20’.
pic.twitter.com/UV6WOXXTj3
— Dogecoin20 (@DOGE_COIN20) March 15, 2024
pic.twitter.com/UV6WOXXTj325% of this supply is allocated to its presale, with the rest distributed among marketing, treasury (for development and community/charity purposes), staking, and liquidity.
In combination, these features promise to give DOGE20 significant appeal, helping to push its price up over time.
Investors can join its presale now by visiting its official website, where they can buy 1 DOGE20 coin for $0.00014, using either ETH, USDT, or fiat currency.
Buy Dogecoin20 Now
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