$PEPE In this article on PEPE price forecasts, we will review its recent price movements to determine its potential direction, and here are the latest updates.
The price of Pepecoin (PEPE) rose by 5.4% compared to last week, and its performance managed to outperform that of its famous meme coin peers - such as Dogecoin (DOGE) and Shiba Inu (SHIB) - amid increasing trader interest, as its futures contract volumes - an indicator known as open interest - reached new all-time highs at $650 million.
Some meme coins - especially those based on the Solana blockchain - gained positive momentum, with PEPE capturing a significant share of it. Some of them - like Fartcoin (FARTCOIN) and SPXX6900 (SPX) - were among the best performers last month, providing gains exceeding 40%.
PEPE's recent surge has solidified its position as the third-ranked meme coin by market capitalization at $5.2 billion, distancing itself by about $3 billion from its closest competitor, Official Trump (TRUMP). After the strong price rally that pushed PEPE from about $0.0000080 to $0.00001600, is this prominent meme coin on the verge of a correction wave? Or is it preparing to re-test its recently recorded highs?
In this article about PEPE price forecasts, we will attempt to answer this question by reviewing its latest movements.
PEPE Price Forecast Amid Likely Re-Test of $0.00001100 Level
The price of PEPE broke through the support of the trend line extended since late May when it decisively retreated below the $0.00001300 level, accompanied by strong trading volumes. Despite initially receiving support around $0.00001100, it continued to decline until it approached $0.000010, which turned out to be the most important support level for PEPE during correction periods.
On its part, momentum indicators showed signs of improvement, as the relative strength index (RSI) reading recently increased to settle above its average value over the last 14 days, indicating that the recent upward wave has gained additional strength. However, the price of PEPE has recently failed - as it seems - to break through the 200-day exponential moving average (EMA-200), which increases the likelihood of a re-test of the support level of $0.00001100 again. If the price manages to bounce back upwards, the forecasts for PEPE's price to continue rising will become more likely. At that point, its target will be to touch $0.00001500 in the near term.
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The post PEPE Price Forecast After a 30% Rise, Is It on the Verge of a Healthy Correction or a Stronger Uptrend?
