The pepe price is down 5% today at $0.000009986 as the broader cryptocurrency market, driven by high volatility, also decreased by 2.5% over the past day.

Although most of the larger cryptocurrencies are correcting after a good start of the week, Pepe has been up around 7.5% in a week, 35% in the last 30 days, and a meme coin increased by 1300% in the last year.

Such percentages of Pepe also making this coin outperform most other top-100 tokens. And today, the coin’s technicals indicate that it is poised to strengthen in the near future and may commence a proper breakout even.

Pepe Price Forecast as Technical Analysis Signals a Strong Reversal – Up to 50% Increase Expected?

We expect Pepe to see yet another rally after recent overbought positions and strong upward movements during the week, suggesting healthy support levels should maintain Pepe in positive levels.

For instance, indicators such as its relative strength index (purple) have recently retraced to the 30 level and are expected to exhibit upward momentum.

Notably, however, we will have to wait until the 30-period moving average for PEPE indicated by the orange line crosses below the 200-period average line, represented in blue, which is a standard bottom indicator.

Pepe price chart.

Source: TradingView

Today, for instance, Pepe’s daily trading volume equals about $1.7 billion, which implies that there is a strong demand for Pepe.

Indeed, we have seen a few huge PEPE purchases in the past week or so, including a whale who last week pulled 101 billion PEPE from Binance.

This follows other such purchases that started towards the end of September suggesting that PEPE is in an accumulation stage.

In light of this activity and considering the position of the coin, Pepe price is expected to recover $0.000010 in a day or two before further appreciation in price takes place.

PEPE’s medium-term outlook also looks very rosy, in fact, the coin is poised to be one of the major beneficiaries in this rapidly changing positive market trend.

The much awaited rate cut of September by the Fed has also infused the sentiments in the latter. Subsequent cuts, before the years end can even propel it further.

It is also quite plausible that the market is gaining its momentum from the recent important approval ratings of presidential candidate Donald Trump who is viewed more favorably towards cryptocurrencies than his opponent Vice President Kamala Harris.

Taking such an assumption, that Donald Trump wins the election and one or two more cuts are inflected in the rates, the price of Pepe meme coin can rise to $0.000020 by the end of November.

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