PEPE Price Prediction: Will the Frog-Themed Token Continue to Leap?

The Pepe price is up 3% in the past 24 hours and 35% in a week to trade for $0.00001449 as of 03:48 a.m. EST on trading volume that plunged 30%.

The price of Pepe (CRYPTO: PEPE) rose 3% in the past 24 hours and 35% in a week to trade at $0.00001449 as of 03:48 a.m. EST on Monday.

The price dropped 1% in the past 30 days and now trades 90% lower than its all-time high.

The meme coin hit a new all-time high of $0.00001470 in the past week with crypto markets buoyant amid rising expectations of the early approval of spot Ethereum ETFs (exchange-traded funds).

Ppl talking about derisking into the ETF launch after market massively mispriced approval

How will you explain to your children your pathetic conviction on one of the most pivotal events for ETH, esp after spending 8 hours a day on CT?

For fuck sakes, believe in something

— Mitchell (@WR_Crypto) May 23, 2024

Pepe price analysis

The price of Pepe is trading with a bullish bias on the one-day timeframe, after breaking out above an ascending parallel channel.

The upside potential remains alive as long as the Relative Strength Index (RSI) remains above the mean level of 50.

The Moving Average Convergence Divergence (MACD) is also above the orange band of the signal line. This is typically seen as a bullish sign in technical analysis. With the MACD line holding above the signal line, it suggests that the momentum is in favor of the upside and that the bullish momentum is strong.

Traders often see this as a buying signal and an indication that the price may continue to rise in the near term.

The histograms of the MACD are also flashing green in positive territory, reinforcing the bullish thesis for the Pepe price.

Increased buying pressure could see the Pepe price clear the $0.00001470 peak to create a new all-time high.

On the other hand, if traders start cashing in on the ground covered so far, the Pepe price could drop. Key levels to watch in a southbound directional bias would be the 23.6% and 38.2% Fibonacci retracement levels at $0.00001220 and $0.00001066 levels respectively.

This is based on the Fibonacci retracement indicator, which shows areas where the price is likely to retrace in case of a correction. If the price drops below the 50% Fibonacci placeholder of $0.00000941, the bullish thesis would be invalidated.

The volume profile has reduced in size, though green, while the RSI is majorly on a horizontal chop. This shows that while the bullish thesis remains intact, the next directional bias is on the balance. With this, it is important to note that the next move of the Pepe price is contingent on the ETH ETF decision.

Meanwhile, some experts say DOGEVERSE, a chain-travelling Dogecoin derivative, might be the best meme coin to buy now. Crypto analyst and YouTuber Jacob Bury says the token has up to 100X potential after listing.

Promising Alternative To PEPE

The DOGEVERSE token powers the Dogeverse ecosystem, a pioneering force in the crypto universe that is the first meme coin to launch on the six most used blockchains after Bitcoin. It calls itself “The World’s First Chain Traveling Doge.”

? Welcoming #Blockchain Inclusive Accessibility! ?#DOGEVERSE extends its arms to a broad spectrum of enthusiasts, ranging from #Ethereum devotees to those favoring the swift, economical advantages of #Solana or #Polygon, nurturing a varied and inclusive community. ?✨ pic.twitter.com/Oj5o7h2o3i

— DogeVerse (@The_DogeVerse) April 23, 2024

The project is built atop the Ethereum, BNB, Polygon, Solana, Avalanche, and Base chains, and while there are multi-chain cryptos already, none are as expansive and interconnected as Dogeverse. Its position on Ethereum positions it to benefit from a possible ETH ETF approval.

? Ethereum price surges to $3,657 as SEC's potential approval of ETH ETFs nears ? Analysts predict $10,000 ETH possible ? Dogeverse (DOGEVERSE) emerging as hot meme token with multi-chain utility and staking opportunities ? #Ethereum #CryptocurrencyNews

— Crypto Updater | MSU? (@pure_ai_chain_) May 21, 2024

The multichain operational dynamics offer users enhanced flexibility, allowing seamless token transfers across networks. It also minimizes transaction fees.

The multichain ecosystem also provides access to a broader user base and unlocks unique functionalities inherent to each blockchain.

Interoperability across major #Blockchains with $DOGEVERSE