Pepe Price Declines Amid Low Activity, Analysts Predict Future Rally
Pepe [PEPE] is trading at approximately $0.000000900, facing challenges in the market. The Relative Strength Index (RSI) is at 43.80, indicating a slight advantage for sellers.
Memecoin Price On The Downtrend
The price of PEPE is on a downward trend, raising concerns among investors. Although it has seen significant increases previously, current metrics indicate diminishing momentum. However, the number of holders is increasing, now approaching 296,000, suggesting ongoing community support despite challenges. Although participation has decreased, many investors remain committed to the meme coin, although declining trade activity raises questions.
Active Addresses On The Retreat
Active addresses on the PEPE network have significantly declined to roughly 13.5k, down from peak levels earlier this year, according to data from Santiment. This decline suggests reduced trading volumes and liquidity, possibly reflecting fading enthusiasm in the memecoin market.
Traders appear cautious, contributing to subdued price movements. Continued pressure on the price may lead to further declines before establishing stability.
Glimmer Of Hope For PEPE
Despite engagement challenges and price weakness, analysts forecast a potential increase of over 200% for PEPE in the next three months. CoinCheckup predicts that in one month, PEPE could be trading 220% lower than its current price, presenting a possible investment opportunity. Experts suggest potential profits of 165% in upcoming months, with expectations for PEPE to reach $0.00044 by 2026, potentially rekindling interest in the sector.
Featured image from Vanity Fair, chart from TradingView