Pepe Forecast Shows Upside

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Pepe Forecast Shows Upside

Pepe Coin Forecast Shows 70% Upside

Whales continue to accumulate the Pepe Coin, sending the coin on a bullish ride. Given the recent buying, some analysts believe that Pepe Coin has the potential to gain a 70% upside from its current levels.

As of now, Pepe Coin is the 2nd biggest meme coin in the ETH network and is now trading at multi-month highs. However, this upside in Pepe also coincides with a bigger rally in the overall crypto market.

Whales Continue To Buy Pepe

According to data from Nansen, the price jump in PEPE has come amid an increased accumulation by the whales. This is a sign that the large holders of the coin are expected to gain more.

Analysis of the top 100 addresses that hold PEPE shows they now control 302.8 trillion coins. When compared with the last month, that's an increase of almost 3.86%.

Some other data also shows that the available PEPE on exchanges has hit a new high. In fact, such low levels were only seen around 2 years ago.

Fewer tokens mean a more stable price, as there will be fewer traders who are actively engaging in buying and selling. This is also a sign that more people are now preferring long-term holding of the PEPE.

The technical analysis of PEPE shows that it is trading in a falling wedge pattern. In addition, a bullish continuation setup is also a sign, which is a good sign for the PEPE.

Looking ahead, the 25 EMA and the 50 EMA on the D1 chart are the immediate hurdles for the PEPE holders. So, if the bulls can break the $0.00001625 handle, that would lead to a 70% upside in the PEPE coin.

On the other hand, breaking the support near the $0.0000080 would mean the forecast for a 70% upside is no longer valid. However, the chances of a bullish breakout in the PEPE coin are higher than a bearish trend.

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