PEPE’s Rally Stalls as Musk Effect Fades – Is This the Start of a Bigger Decline?
Pepe’s value has increased by 7% within the last 24 hours, reaching $0.0000207, amidst a broader recovery in the cryptocurrency market.
Despite facing challenges in the past week, PEPE experienced a rebound on New Year’s Day, marking an 18% increase in a week for the meme token.
However, its overall growth in the past month stands at just 1%, prompting speculation on its potential to return to the record high achieved in early December during the post-election bullish trend.
Following Elon Musk’s recent endorsement through the brief use of Pepe as his X profile image, there is optimism for a robust rally for the coin in the coming year.
PEPE’s Rally Stalls as Musk Effect Fades – Is This the Start of a Bigger Decline?
In the period leading up to the New Year, PEPE faced challenges, with Christmas Day failing to boost its performance.
Subsequently, the token saw recovery after Elon Musk changed his X profile picture to an image of Pepe.
Interestingly, despite a decline post the Musk-induced rally, PEPE has rebounded by 7.5% after hitting a 24-hour low of $0.00001915.
The 24-hour trading volume for PEPE indicates this newfound momentum, surging from $2 billion to $2.3 billion within hours this morning.
Currently, its chart displays positive signals with the relative strength index (purple) climbing back to 70, indicating buying pressure.
Moreover, after surpassing the 200-period average (blue) on New Year’s Eve, the 30-period average (orange) continues to rise, suggesting a renewed growth phase for PEPE, aligning with the broader market trend.
Beyond recent market corrections, fundamental factors contribute to this, notably the upcoming inauguration of Donald Trump in the US.
Anticipated changes in the SEC’s stance under Chairman Paul Atkins and potential pro-crypto legislation by Congress, coupled with promising executive orders by Trump, herald a positive phase for the crypto market.
In this environment, PEPE, alongside other meme coins, is poised for a potential rally, as ownership numbers steadily climb.
Forecasts suggest a rise to $0.0000250 in the coming weeks and $0.000035 by Q2.
New Pepe Coins Offer Market-Beating Gains
Recognizing the potential slowdown in PEPE’s momentum, traders are advised to explore newer options for enhanced returns, with various presale coins showing promise.
Notably, Wall Street Pepe (WEPE), an ERC-20 token, stands out having raised an impressive $39.4 million in its presale phase.
WEPE’s success stems from its multifaceted approach beyond being a meme coin, including the launch of a trading intelligence platform.
This platform offers exclusive buying signals, real-time analytics, and insider trading strategies to WEPE holders.
Additionally, a dedicated community will facilitate information sharing, analysis, and participation in trading competitions, with rewards in WEPE for winners and staking opportunities for additional income.
With these features, Wall Street Pepe presents a compelling opportunity for investors, accessible through its official website.
Currently priced at $0.0003663, the token’s value is expected to increase later today, urging traders to act promptly as indications suggest a potential surge post-listing.
Disclaimer: Cryptocurrency investments carry high risk. This article serves informational purposes and does not constitute financial advice. Capital loss is possible.