The frog-themed joke token has become one of the 25 most valuable cryptocurrencies, but not without some recent struggles. Will it rebound in the coming months?
59% of investors are in favour of Pepe’s uptrend continuation
CoinMarketCap has released a new market sentiment aggregator, which shows a 59% bullish market outlook for Pepe.
And judging by predictions on social media, it seems the project’s lows might be in.
Pepe is currently trading at $0.00000771.
It is up 4.7% today but down 4.5% this week and 38% this month.
Nevertheless, it still remains in a solid position to this time one year ago, trading at a 584% premium.
Pepe peaked in late May, creating an all-time high (ATH) of $0.00001718, but has since tumbled and is down 55%.
Analyst Slick eyes Pepe’s 200-day exponential moving average (EMA) as a key indicator in its trajectory.
Right now, Pepe is trading under the EMA.
However, Slick anticipates a break above in the coming weeks, which will mark a shift into bullish momentum, sparking Pepe’s next rally.
The analyst did not specify how far he thinks Pepe could go, but he did show a pathway to beyond $0.00003 on the price chart.
From its current price, this would equate to a 322% gain.
According to the chart, the 200-day EMA is around the $0.000008 level. Pepe must cross this to begin its ascent.