Pepe Price Prediction: $800 Million Volume Pushes PEPE into the Red – Is More Trouble Ahead?

Joel Frank

Last updated:

June 21, 2024 08:52 EDT | 2 min read

Pepe Price Prediction: $800 Million Volume Pushes PEPE into the Red – Is More Trouble Ahead? / Source: CryptonewsDown 6.5% in the past 24 hours as per CoinMarketCap, the Pepe (PEPE) price is at risk of falling further in the days and weeks ahead, chart analysis suggests.

Trading volumes exceeded $800 million for a fifth successive session on Friday, as per Yahoo Finance data.

The Pepe price has been in a downward trend channel since reaching its local price peak above $0.000017 in May.

It also recently broke below its 50DMA and found resistance when retesting it. The 21DMA has also been acting as resistance.

Chart analysis points to downside risks for Pepe. And a broader market decline as Bitcoin (BTC) suffers from US ETF outflows adds to downside risks. More trouble may well lie ahead.

Yesterday’s ETF flows were negative for $139.9 million.

Fidelity had $51.1 million outflow, Bitwise $31.5 million and GBTC $53.1 million.

Price keeps grinding down.

News came out yesterday that Germany started selling the Bitcoin that they stole from a movie streaming website.… pic.twitter.com/B0DK3wOWt8

— WhalePanda (@WhalePanda) June 21, 2024

But many traders will be looking for an opportunity to buy the Pepe price dip.

Pepe Price Prediction – Where Next for PEPE?

Pepe price dips below $0.000010 may be short-lived. That’s because Ethereum ETFs are likely to launch in the USA this summer.

UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they’re pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next…

— Eric Balchunas (@EricBalchunas) June 14, 2024

That could spur a new influx of institutional liquidity into the Ethereum eco. And leading Ethereum meme coins like Pepe stand to be some of the biggest beneficiaries of this.

Meme coin investors are likely to look at Pepe as a meme coin that still has 5-10x potential.

That said, meme coin traders are often looking for gains of much greater than 5-10x.

Getting in on a new meme coin early, before it trends, is the best way to bag 50-100x gains.

But getting into a meme coin before the crowd is hard and risky. Most newly launched meme coins fail to gain traction. And the majority are scams or pump-and-dumps.

An alternative, often overlooked, investment strategy is investing in meme coin presales.

Analysts at Cryptonews.com spend a lot of time combing through the presale market.

One new project they are particularly big fans of is a fun new meme coin called Wiener AI (WAI).

We’ve just raised $6M 🌭🚀

Thank you to our incredible community! Get ready for more exciting adventures with this little Wiener 💥🐾 pic.twitter.com/O6AdG6xrhE

— WienerAI (@WienerDogAI) June 18, 2024

AI Meme Coin Alternative to Pepe (PEPE) – Wiener AI (WAI)

AI cryptos are in focus with Nvidia this week surging to become the largest publicly traded company in the world.

AI meme coins like Wiener AI could be a great high beta play against the broader crypto AI sector.

The crypto is already attracting huge demand, with its presale recently surging beyond $6 million.

Here’s why Cryptonews.com think Wiener AI has big potential, and rank it amongst their best meme coins to buy.

Follow Us on Google News Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.