Pepe Coin Price Prediction as it Jumps 7%, Wall Street Memes is Also Pumping
$PEPE made national headlines in early May when the token exploded more than 6,000%. At its peak, $PEPE saw nearly $3 billion in trading volume - more than Dogecoin and Shiba Inu combined.
However, the excitement around $PEPE wore off after a few weeks, and the coin has been sliding for more than a month. That’s all changing now, with a 5% gain in the last 24 hours and a 68% gain in the past week.
So, where will $PEPE go from here? Let's assess the token's outlook and look at how another meme coin - Wall Street Memes - is also making waves.
Technical Analysis Points to Another Move Higher for $PEPE
$PEPE’s recent surge is likely thanks to a broad uptick in the crypto market. In the past month, Bitcoin is up 14% and Ethereum is up 4%.
However, it’s impossible to ignore the technical patterns underlying $PEPE’s recent surge. The latest move started with a breakout about $PEPE’s month-long bearish trendline. The bullish move was accompanied by a nearly 10x increase in daily trading volume, an extremely strong sign of support.
The token broke through resistance at $0.0000015, which is now serving as an area of strong support for the price. In the past few days, $PEPE has traded sideways in what appears to be a consolidation pattern after its explosive move.
During this consolidation, the $0.0000015 price level has held strong. That suggests that $PEPE could be setting up for another move higher, potentially to its next resistance level at $0.0000019. A test of that level would represent a gain of 25% from today’s price.
The $0.0000019 level is well-established and it will take a very strong movement for $PEPE to break through this price. However, if it does, $PEPE could retest levels it hit on its way to its all-time high in early May. The next resistance area is around $0.0000024, a 60% gain from today’s price.
Long-term Forecast for $PEPE
The surge in $PEPE this week is a promising sign for the long-term health of this token.
This is a meme token that has found lasting support, similar to Dogecoin and Shiba Inu. Price action this week could determine a sustainable, long-term price level for $PEPE.
Given the recent price surge, it appears likely that $PEPE was oversold in the last few weeks. In fact, the $0.0000015 price level is likely to be a new long-term floor for the token.
As is common for meme coins, price action is likely to be dominated by periods of slow trading punctuated by short and sharp upward and downward movements. We don’t expect $PEPE to retest its all-time high of $0.0000038 in the next 12 months, but it could approach $0.0000030 during a particularly bullish movement.
Wall Street Memes Raises Over $10M, Looks Ahead to IEO
$PEPE isn’t the only meme coin surging this week. Interest in Wall Street Memes, a new meme coin currently in presale, has shot up in recent days.
The project has now sold more than $10 million worth of its $WSM token and is well on its way to selling out its presale.
Wall Street Memes has generated a lot of excitement ahead of its launch. The project has gotten the attention of Elon Musk, who played a huge role in sending Dogecoin to the moon. It also has the backing of many members of the r/WallStreetBets community.
The project was developed by a team that understands how to create great memes. The same developers were behind the Wall Street Bulls NFT collection, which sold out in just 30 minutes after launching in 2021.
With an ICO still a few weeks away, one crypto analyst has predicted that $WSM could 10X after launch.
Wall Street Memes plans to launch at a price of $0.0337, but presale investors can buy $WSM now at a price of $0.0304. That’s a discount of nearly 10% ahead of the launch.
Early investors can also enter the Wall Street Memes airdrop, which is giving away $10,000 worth of $WSM to each of 5 lucky investors.
