Will Pepe Coin Price Rally 50% in October? Expert Weighs In

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As a seasoned crypto investor with a knack for spotting trends and a keen eye for meme coins, I find myself increasingly intrigued by the recent surge of PEPE Coin. Having witnessed the meteoric rise and fall of numerous digital assets, I’ve learned to read between the lines and follow the money – or in this case, the memes.

The price of Pepe Coin (PEPE), a meme token tied to Ethereum in the crypto world, has experienced a notable increase lately, aligning with a broader surge across the market. Over the past week, Pepe’s value fluctuated somewhat due to typical market corrections, but its recent recovery indicates a positive outlook for October, suggesting a bullish trend.

Similar to Pepe, popular meme tokens such as Dogecoin and Shiba Inu have seen positive returns too. Notably, Bitcoin has reached a new high above $62,000, indicating a strong phase of growth within the cryptocurrency market.

Expert Forecasts Pepe Coin Price is Ready to Rally

crypto expert ColdBloodShill recently posted an analysis about the PEPE cryptocurrency on platform X. The analyst noted the straightforward nature of the PEPE setup and referred to it as an “easygoing investment opportunity,” underscoring its allure for traders due to its potential profitability.

Something like $PEPE is a really chill bid as well.
Adjust the Daily Relative Strength Index (RSI) and Three-Day RSI daily, respectively. The Weekly Moving Average Oscillator (AO) has crossed over, hinting at a possible reversal in its trend.
Very simple one.
— Cold Blooded Shiller (@ColdBloodShill) October 4, 2024

Based on the article, it seems that both the daily and 3-day Relative Strength Index (RSI) have returned to their starting points, while the weekly chart has experienced an Awesome Oscillator (AO) crossover. This could indicate a potential change in direction for its price trend, possibly moving upward.

PEPE Coin Price Forecast: A 50% Rally in The Making?

At present, the meme coin PEPE is showing a positive upward trend. Right now, its value stands at about $0.059442, having risen by 4.81% over the past day. Given the current market momentum, it’s possible that the price of PEPE could exceed the resistance level of $0.00001.

If the current growth persists, it may climb as high as $0.000012. With this strong momentum, there’s a possibility that it could reach $0.000015, representing roughly a 50% increase during its upcoming bullish run.

As a crypto investor, I find that when the Moving Average Convergence Divergence (MACD) line, represented in blue, crosses above the signal line, depicted in orange, it could be a sign of an upcoming bullish trend. The fact that this crossover is reinforced by the growth of green volume bars, which represent increased buyer interest, adds credence to this optimistic outlook.

Will Pepe Coin Price Rally 50% in October? Expert Weighs In

PEPE token owners seem confident and optimistic about the current market trend, which appears to be heading upward, as the token’s price has settled at around $0.000009. A large portion of investors, owning approximately 75.49% of the total supply valued at $2.96 billion, have purchased their tokens at lower prices, between $0.000002 and $0.000007. This substantial group of “in-the-money” investors provides a solid base for potential price growth.

In a different perspective, approximately 9.32% of the assets, valued at $365.86 million, are considered “out of the money.” This implies that there is limited pressure for these holdings to decrease in value due to losses. Furthermore, holdings classified as “at the money” make up 15.19% of the total market cap, maintaining stability around the current price. These assets could potentially shift towards further growth, strengthening the optimistic outlook among PEPE token owners.

Will Pepe Coin Price Rally 50% in October? Expert Weighs In

There’s a good chance that the value of Pepe may surge substantially, supported by powerful technical signs and a solid community of owners. As long as market trends continue to be advantageous, PEPE might attain and surpass its goal, suggesting a bright outlook for investors.

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2024-10-05 16:44