Pepe Price Forecast: Should You Buy the Dip as PEPE Falls 12% from Recent Highs?
The Pepe (PEPE) price has been on a downward trend after reaching new record levels earlier this week. Traders are now considering whether it’s a good time to buy the dip, as PEPE has dropped 12% from its peak.
Pepe experienced a surge in value, surpassing $0.000011 earlier this week, thanks to the sudden return of GameStop icon Roaring Kitty. The renowned retail investor played a significant role in the 2021 meme stock rally and injected momentum into meme stocks and meme coins upon his return to the scene for the first time since 2021.
However, the Pepe price has since retreated to just above $0.00010. Chart analysis indicates that it may be premature to jump into PEPE’s recent pullback. Here’s why.
Despite the recent decline, the Pepe bulls still hold control in the market. The meme coin continues to trade well above its major short-term moving averages, which have served as support levels. Additionally, Pepe broke out of an ascending triangle pattern earlier this week. Traders who wish to go long may want to wait for the Pepe price to retest the upper boundaries of this ascending triangle before making their move. Notably, the price is likely to find strong support around $0.00000920.
With a market capitalization of just under $4.3 billion, Pepe still has plenty of room to grow in this bull market as it gains popularity. Pepe enthusiasts are hopeful that the meme coin can eventually compete with Dogecoin (DOGE) and Shiba Inu (SHIB), which currently have market caps of $21.9 billion and $14.6 billion, respectively. Dogecoin’s official Twitter account boasts 3.9 million followers, while Shiba Inu has 3.8 million. In comparison, Pepe has 650,000 followers, indicating that it still has some catching up to do in terms of popularity.
As an alternative to Pepe, investors may want to consider Mega Dice (DICE), a cryptocurrency investment option. While Pepe has potential for growth, it’s unlikely to see a 10x or higher increase. Those seeking higher profits in the 20-50x range should explore the often overlooked strategy of presale investing. Up-and-coming Web3 projects often offer their tokens at a discounted price to early investors. By identifying high-potential projects, presale investors can make significant profits.
One such project that analysts at Cryptonews endorse is the GambleFi ICO for Mega Dice Casino. Mega Dice is a crypto casino that recently launched a presale of its utility token, DICE. The casino already boasts over 10,000 active monthly players and sees over $50 million wagered each month, indicating strong demand for DICE. The success of the presale, which has exceeded $1 million, further confirms this. With a current market cap of $30 million at $0.075 per token, DICE presents a relatively low valuation considering the real-world adoption of Mega Dice’s platform.
Mega Dice is already a market leader in the GambleFi sector, and as the industry expands, its coin could potentially be valued in the billions of dollars. Therefore, DICE has the potential to be a 50-100x coin.
For those interested, the presale for Mega Dice Casino is worth exploring.
Stay up to date with the latest crypto news by following us on Google News.
Disclaimer: Crypto investments are high-risk endeavors. This article is for informational purposes only and should not be considered investment advice. There is a possibility of losing all invested capital.
