Pepe Price Prediction: Following President Trump's urging for the cabinet to allow investors to add cryptocurrencies to their 401(k) plans, trading volume for PEPE has recovered.
Following President Donald Trump's signing of an executive order (EO), Pepe (PEPE) has risen 2% in the past 24 hours. This order may soon allow U.S. investors to add cryptocurrencies to their retirement accounts. This is favorable for bullish price predictions for Pepe, and higher trading volume further confirms this.
After dropping to a low of around $400 million on August 3, trading volume has rebounded to over $500 million as traders bought up crypto assets in large quantities following the news.
401(k) accounts hold over $8.7 trillion in assets, which American workers use to save for retirement. These accounts allow holders to defer taxes until they start withdrawing funds at retirement age.
Once exchange-traded funds (ETFs) linked to such tokens begin to gain approval from the U.S. Securities and Exchange Commission (SEC), meme coins like Pepe could benefit.
PEPE Price Prediction: White House statement may trigger short squeeze.
As the news triggered a rise in top altcoins like XRP (XRP), Solana (SOL), and Ethereum (ETH), nearly $300 million in short positions were liquidated across the entire cryptocurrency market yesterday.
Meanwhile, as Pepe rises from recent lows, the open interest in the futures market has been increasing over the past few days. Data from CoinGlass shows that open interest once reached $570 million and has since gradually risen to the current $678 million.
The 4-hour chart for PEPE shows that the price has been steadily climbing towards its 200-period exponential moving average (EMA) in this lower time frame and may soon reach the key resistance level of $0.00001180.
With potentially billions of dollars flowing into the cryptocurrency market in the short term, it is only a matter of time before PEPE rises to its recent volatility high of $0.00001400.
The Relative Strength Index (RSI) indicates that there is still room for further increases as it has not yet entered the overbought territory. If the price breaks through $0.00001200, a explosive surge is expected, with PEPE potentially delivering a 17% short-term gain.
