Price Analysis

Pepe Price Prediction: Poised For New Peak As Futures Market Activity Explodes

Pepe price prediction shows it as one of the biggest gainers today, with indicators primed for a bullish rally following news of the preliminary approval of spot ETH ETFs.
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Pepe Price Prediction: Poised For New Peak As Futures Market Activity Explodes

Highlights

  • Pepe's price surged 29% on the news of a preliminary ETH ETF approval.
  • PEPE aggregated Futures Open Interest (OI) across exchanges surged 31.47% in the last 24 hours.
  • Pepe's price may extend gains by 41% to $0.00001730, breaking the previous all-time high price.

Pepe price surged 29.1% in the last 24 hours to trade at $0.00001223 during European business hours on Tuesday. The increase may have been triggered by the rise in the price of Ethereum following the preliminary approval of spot ETH ETFs. Subsequently, PEPE 24-hour trading volume increased by 98% to $2.27 billion, signaling an increase in investor interest. Given these trends, a pepe price prediction indicates potential further growth if the market sentiment remains positive.

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Pepe Price Prediction: Eyes 40% Gains After Breakout From Falling Channel

Pepe Price Chart

The PEPE price broke out of a falling wedge with an explosive 29% move. Despite this bullish action, the daily candle close yesterday did not establish an uptrend, as the high was still lower than the previous. All eyes are on today’s daily candle, if it closes above $0.00001350, an uptrend will be confirmed.

Leading indicators are bullish, hinting that the daily candle close has a high chance of hitting that $0.0000135 target.

The relative strength index (RSI 14) is at 61.14 and heading upwards. This shows Pepe’s bullish momentum is increasing and signals that the asset is on an uptrend. Similarly, the Chaikin money flow (CMF) is above zero at 0.12 and facing upward. This indicates that Pepe’s buying pressure is rising, as confirmed by the surge in daily trading volume. The moving average convergence divergence (MACD) crossed above the signal line on July 14, marking the start of a bullish reversal.

Lagging indicators also confirm Pepe’s bullish trend, with the 21-day, 50-day, and 200-day simple moving averages (SMA) trending below the price. 

Our Pepe price prediction suggests that it may surge 41% to $0.00001730, with some minor resistance around $0.000012 and $0.000013. Conversely, support exists around $0.000010 and $0.0000078.

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Why is Pepe Price Spiking?

The rise in PEPE price may be attributed to the news of the U.S. SEC’s “preliminary approval” of spot ETH ETFs. Pepe has always been one of the most reactive meme coins on the Ethereum blockchain. Previously, when spot Ethereum ETF 19-4b applications were approved, Pepe’s price jumped 56%. Pepe’s upward trajectory may not be over as ETF trading begins on July 23. 

Furthermore, data from Coinalyze shows the PEPE aggregated Futures Open Interest (OI) across exchanges surged 31.47% in the last 24 hours. This signals peak interest among investors as they rush to take positions in the meme coin as it prepares to extend gains.

Bottom Line

According to the Pepe price prediction the asset posses strong bullish signals as futures market activity surges, potentially setting the stage for an all-time high. This spike in derivatives trading suggests growing investor confidence and could trigger a 41% price run to new all-time highs. 

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Frequently Asked Questions

How can I buy PEPE?

You can buy PEPE across various centralized exchanges such as Binance, Kucoin, Coinbase e.t.c.

What are the recent price movements of PEPE?

Recently, PEPE broke out of a falling wedge pattern with a significant 29% price increase. However, the price has not yet established a sustained uptrend, as the daily candle close was lower than the previous high.

What is PEPE coin's aggregated Futures Open Interest?

PEPE registered a 31.47% surge in aggregated Futures Open Interest (OI) across exchanges in the last 24 hours.
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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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